In today’s technological world, the internet is tied to virtually everything, including business. So, if you’re creating a new company, a website is non-negotiable. But many business owners are finding that just focusing on the website isn’t enough.
Today, founders wanting to create a robust company that excels in the market should consider getting a premium domain name.
Why place so much emphasis on a domain name? Well, you can look at it like your brand’s website is your virtual storefront, and the domain name is the virtual address where customers will find it.
Sure, common digital real estate is useful, but premium domain names are far from common. They are more like luxury condominiums, and like any other type of luxury real estate, premium domain names are exclusive and costly because they are in strong demand.
Yet still, if you are a digital or internet-based company looking to gain a competitive advantage over the competition, a premium domain name could help you do just that. Investing in a premium domain is one of the fastest ways to excel growth in a brand’s reputation and trust.
I’ve been using Cloudways since January 2016 for this blog. I happily recommend Cloudways to my readers because I am a proud customer.
But the advantages don’t stop there. Premium domain names offer so many benefits that it would be crazy not to consider the option. Take a look at the following guide we created to help you understand the benefits of a premium domain name.
What Is A “Premium Domain Name?”
Premium domain names are those that contain short, memorable, and catchy names that end with a .com extension. These high-quality web addresses are usually already registered to another person, organization, or entity, so they tend to be costly. The price of a premium domain can range from three figures up to seven, depending on how much demand there is for the name.
Nonetheless, premium domains offer the best opportunities for branding and growth. Since these names contain unique characteristics, they more easily stand out in search results and accomplish the fundamental goal of helping visitors locate your website. Though premium domains are sold in many places on the internet, it’s usually easiest to obtain help from a crowdsource naming agency.
What Domain Names Qualify As “Premium?”
Before we get into the specifics of what qualifies as a premium domain name, you should know the reasons why entrepreneurs and businesses put so much effort into purchasing domains. The truth is that owning a domain is a priceless resource that can be used to represent their brand, used in marketing strategies, and used to prevent other people from buying the name.
Businesses will happily pay for a premium domain name if it helps them better achieve their branding and marketing goals.
So, what makes a name ‘premium?’ Here are the top attributes of premium domain names:
Premium Domains Are Short
When it comes to choosing a domain, less is more. Shorter domain names are better for branding, and they are easier for consumers to remember and locate.
Premium Domains Are Brandable
A premium domain is one of the best tools to help entrepreneurs build their brands. And the best part is that thanks to their unique characteristics, these names are instantly brandable.
Premium Domains Use Trusted Extensions
At one time, business owners only had one extension choice for their domain – .com. But there are thousands of website extensions today. Premium domain names use the most popular extensions that people choose when looking through search results. These include .io, .org, .net, and of course, .com.
Premium Domains Convey A Clear Message
A premium domain name helps give customers a clear image of the services and products your company offers.
Premium Domains are Search Engine Friendly
It’s common for premium domains to match exact phrases that consumers search for, making them better for SEO.
What Can A Premium Domain Name Do For Your Business?
Now that you understand what makes a premium domain let’s discuss how investing in one can help your business.
1. Ensures Your Company Gets The Best Domain Name Possible
Did you know that some companies have spent millions of dollars just on their domain name? In fact, it took Elon Musk ten years and $11 million to finally buy Tesla. Com.
Elon waited so long because he understands that the greatest approach to display your company in the digital ecosystem is using a premium domain that perfectly fits your brand.
2. They Are Easier For People To Find
Purchasing a premium domain name makes it easier for your company to reach your target audience. These names are catchy and memorable, so your customer will be able to recall and find them later.
If you own an acting agency, you want people to find your services quickly. A premium name such as getscene.com is much better than a domain like applyforactingrolesnow.com.
3. Boosts Your Business’ Credibility
Displaying a premium domain name is a great way to look more trustworthy and credible to customers. When you evoke these feelings, it makes people want to browse and engage with your website.
4. Prevents Competitors From Buying It
As the old saying goes, ‘Great minds think alike.’ This means that if you thought of a great name for your business, there’s a high likelihood that someone else will also think of it eventually – if they haven’t already.
Let’s consider you own a business called Majestic Threads. If you settle on this name and later see that majesticthreads.com is already taken, this may be a problem that impedes the growth of your company. In this case, you have three options:
- Pay a costly price for the premium domain.
- Change the spelling.
- Come up with a new name altogether.
The bottom line is that if you don’t secure a premium domain name, the competition will, and they will use it against you. This will not only result in lower traffic for your site but also fewer sales conversions.
Premium Domains Are Always A Safe Bet
In the end, premium domains may be costly on the secondary market, but a great name is priceless. So, this should be considered a crucial component for every business because it’s what makes a brand’s digital identity.
