Today’s commercial world relies on the internet more than it ever did in previous years, as more and more firms are moving their operations online daily. As a result, company owners who want to establish powerful companies and become authorities in their market should invest in a premium domain name for their business to become relevant in the online market.
But why should you acquire a premium domain instead of any random domain? There is a reason for that. Your website is your online store and your domain name, your virtual address, is a crucial factor influencing its accessibility. It’s the online real estate of your firm.
However, because premium domain names are in great demand but have limited availability, acquiring one could be expensive. Yet, getting a premium domain is one of the most successful methods for startups to rapidly build their brand authority and online reputation.
But these are just a few straightforward illustrations of how a premium domain can help your business. To further understand the advantages of acquiring one, we first must know what a premium domain is.
What’s a Premium Domain Name?
A premium domain name is a high-quality website address that is recognizable, short, easy to pronounce or type, and ends with the ‘.com’ or an equivalent extension. These features make premium domains stand out while meeting the goal of any domain: aiding clients in locating your website.
Premium domains are also called Exact-Match Domains (EMDs) because they correlate perfectly with your business’s name. While your brand name works on the offline market, a premium domain name acts as the name for your business on the online market.
Entrepreneurs often buy domains or use reliable business name generators to create an EMD for two major reasons: First, to better enhance their marketing by reflecting their brand’s identity, and second, to prevent competitors from using them.
Here’s How to Identify a Premium Domain
To understand what makes a domain name “premium,” you must know that each premium domain comprises the following critical components that make it stand out. They are:
- Simplicity and Memorability: Premium domain names are short, memorable, and quick to recall. This allows clients to search, explore, and reference your website more quickly.
- Brandable: A premium domain makes it much easier to build a strong brand identity since it reflects the brand it represents.
- SEO-Friendly: Because they closely match the phrases that customers use and search for, premium domains are very SEO-friendly. Not to forget that they end in well-known domain extensions such as ‘.com,’ ‘.io,’ ‘.net,’ and ‘.org.’
Four Reasons Your Business Needs a Premium Domain
Now that we’ve addressed how to identify a premium domain let’s talk about why your firm requires one.
1. It Is the Perfect Web Address for Your Business as It Matches Your Brand Identity
Premium domain names stand out because they are excellent at portraying the core of your startup’s brand.
Acquiring a premium domain name that is identical to your startup’s name and social media handles can assist you in boosting the online exposure of your brand, therefore, making you more recognizable to your target audience.
We see corporate leaders like Elon Musk waiting ten years before acquiring Tesla.com for as much as $11 million.
This is because they understand that choosing a web address that is notably different from your company’s name will negatively affect your brand online, while a premium domain name is the best way to build a solid digital identity and reputation.
2. Provides the Most Accessible Online Address for Your Business
Premium domains make it easier for potential clients to find your organization online. But anything other than a premium domain would reduce your website’s accessibility considerably.
Let’s assume you’re starting a company, Imperial Clothing, that offers both feminine and masculine clothes. A premium domain name, such as imperialclothing.com, is a far better choice than theimperialclothing.biz since it allows your customers to find you quickly on the internet just by knowing your brand name.
3. Can Help You Quickly Create Credibility and Trust
Investing in a premium domain name improves your company’s image and credibility. For instance, which of imperialclothing.com and theimperialclothing.biz do you believe is more legitimate and trustworthy? The answer is clear, the former seems and sounds more reliable.
Customers are far more inclined to visit and buy from your website if they find it trustworthy. And premium domains simply provide you with this credibility.
4. Keeps the Domain From Falling Into the Hands of a Competitor
Let’s go back and reflect on our fictitious venture, Imperial Clothing, again. What do you imagine would happen if some other fashion business already owned imperialclothing.com? That would imply that you would lose the majority of your organic search traffic to that company. And that’ll be bad for your business.
If you don’t secure a premium domain for your website, a competitor will grab it first and either harm your prospects of online success or sell it to you for a higher fee.
Buy a Premium Domain!
We encourage you to purchase a premium domain name because, unlike the physical market, where potential clients may be hindered from accessing your firm due to its geographic location, on the internet, your business would be exposed to a large number of customers ready to buy from you and not impeded by location.
Grant Polachek is the head of branding of Squadhelp.com, a 3X Inc. 5000 company and pioneer in the naming industry. Squadhelp has evaluated over 1 million business names and assembled a list of the top domain names currently available on the internet. As the world’s greatest crowdsourcing platform, we’ve assisted customers ranging from rising startups to Fortune 500 corporations.