Why Premium Domains are the Key to Any New Business
In today’s virtual world, the majority of companies operate websites for their business. And the best entrepreneurs realize that to grow their brand quickly, they need a website and a premium domain.
To understand why this is so crucial, you need to think of your website as your company’s virtual storefront. Now, consider your premium domain the virtual address where customers will find your ‘store.’
As you can see, premium domains aren’t your average piece of digital property; it’s more like an opulent home. And much like luxury houses, premium domains can be costly because they are in short supply and in high demand.
And having a premium domain is a requirement for companies that will only operate on the internet. Yet, it’s a smart option for any kind of business wanting to increase brand awareness and reputation.
The benefits don’t stop here, though. Keep reading to discover why premium domains are the key to a startup’s success.
What’s a Premium Domain?
Premium domains are those that fit a specific set of criteria. Typically, these names are catchy, short, and end with the .com extension. Regardless, a premium domain name is the key to opening up a world of branding strategies for the companies that buy them.
Since premium domain names embody specific characteristics, it makes them more accessible for customers to remember and find later, giving you an edge over the competition. Just beware that premium domains are for sale all over the internet, so it may be best to work with a naming agency during the process. These professionals will guide you through generating business name ideas.
Characteristics of a Premium Domain
Before we discuss what makes a domain ‘premium,’ let’s discuss why business owners invest money in them. The reasons are simple, premium domains are great for marketing, representing your brand, and because you don’t want the competition to have your great name.
For these reasons, companies will pay millions of dollars for the perfect domain name when necessary. So, let’s take a look at what makes it a premium domain name:
- Length: Any SEO expert will tell you that less is more with a domain, and these domains are short.
- Branding: Building a branding strategy is much easier with the help of a premium domain.
- Trusted Extension: There are tons of website extensions available, but these domains use the most trusted ones, including .com, .org, .io, and .net.
- SEO-Friendly: Since premium names tend to match exact search phrases, they are beneficial for SEO purposes.
- The Message: These domain names provide a clear image of what the company does to the customers.
Here’s Why Your Startup Needs a Premium Domain Name
Best Possible Domain Name Secured
Elon Musk waited ten years to buy his Tesla.com domain. And do you know how much he paid for it? $11 million.
This is a forward-thinking entrepreneur, so he understood the value of a premium domain in the digital era. And in Elon’s case, he was very patient and didn’t mind waiting for the perfect name.
Customers Will Find Your Website Easier
Premium domain names make it easier for your target audience to remember your address. When your domain is too long and contains many words, it’s harder to type, and people are more likely to end up in the wrong place.
For example, if you own a discount pet store, something like discountpets.com will be easier to find than thebestdiscountpetsupplies.online. Do you see how this can leave it open for people to rearrange words and misremember it?
It Builds Trust With Consumers
Investing in a premium domain shows customers that you are credible and trustworthy. In return, they will be more apt to browse and engage with your website.
Prevents the Competition From Buying It
Let’s say you’re launching a game store called Imperial Games. If you look to purchase a domain and find that someone else already owns Imperialgames.com, your growth may be affected by this.
So, when you find the perfect premium domain name, you should secure it, so no one else buys it and uses it against your brand. If this occurs, your site will get less traffic and conversions, which could be your company’s ultimate downfall.
Premium Domains are an Excellent Investment
Premium domains are a vital element in which every company should invest. Though they are costly in secondary markets, other entrepreneurs will tell you that they are worth every cent and crucial for building a brand identity.
Grant Polachek is the head of branding for Squadhelp.com, 3X Inc 5000 startup and disruptive naming agency. Squadhelp has reviewed more than 1 million names and curated a collection of the best available names on the web today. We are also the world’s leading crowdsource naming platform, supporting clients such as Nestle, Dell, Nuskin, and AutoNation.