Yes it is truly great to have a website with a hot domain name that brings traffic to you without much work. However many people have no idea that domain name forwarding can increase traffic to a site many times over, and is an excellent to for doing just that. It is a technique that is available to the masses, but usually is used only by webmasters. Maybe that is because too many people simply are not aware of it, and that makes for a good article with which to inform website owners. One thing good about domain name forwarding is that it helps people who have buyers remorse regarding their initial domain name choice. Once you buy a name, and build you website, you cannot just go an change your domain name. You would need to start from zero. Yet the way to deal with that is quite easy. Buy the second domain name that you wish you had bought, and direct it to your website.
Beware of a mistake many people make when they wish to change a domain name on a website. They just buy the new domain, make a new website, and transfer all the content to the new site. This is a problem because search engines may recognize that as content theft because they have already indexed the content for your original website. Be careful. Just buy the new domain name, go to your control panel on your hosting account, and forward that domain name to your existing website. Both your original domain name and the new one will send traffic to your site. Some people use the technique of buying multiple domain names for a niche, and then holding them for awhile. When ready they forward those domains to the site, and then advertise all the domains online.
Here is an idea of how domain name forwarding is done. The procedure at one hosting company is this: Log in to your account manager, then next to domains click on manage, then select which domain names you want to have forwarded, then you click forward, and select the forwarding domains, then click add forwarding, and then select the redirect type.
It would be great if all hosts had the exact same instructions, but it may differ from one host to the next. It is always fine to get yourself some customer service, even if it is just that you email customer service, and they email you back step by step instructions.
Another thing that you must pick up on is URL Redirection. This is not exactly the same as domain name forwarding, but the concept is similar in that you are forwarding a page from a domain name to a different page associated with the same domain. Read up on this, because whenever you transfer content, or decide to re distribute content on a website internally, being well versed in URL redirection, will help you immensely.
Good luck with forwarding, and redirecting, and as always, practice will make you perfect with these concepts.