When you think of setting up your own business, registering the right domain name should be one of your top priorities. While it may not seem obvious at first, your domain name plays a vital part in your business’ branding.
Branding starts from user perception, and in the online world, your domain name is the first step towards building the right user perception. Just like you want a business name that reflects your intent and personality, you want a domain name that does justice to everything you offer and stand for.
The importance of domain names makes them a hot commodity in the market, akin to online real estate. Just like real estate in the brick-and-mortar world, all domain names are not created equal. Some are more valuable than others. The meaning and perception domain names carry is the same reason why some are more expensive. Such names are often bought because of their perceived value, often as an asset to be sold at a premium price. They are known as Premium domain names. These meaningful domain names help establish any business’s online presence.
What Are Premium Domains?
1. Premium domain names are typically short
If you come across a 2- or 3-letter long domain name, it’s possibly a Premium domain name. Short domain names have a high buyer competition as they can serve as abbreviations for companies. However, a Premium domain name may not necessarily be this short. Certain domain names with generic keywords are more authoritative and have greater universal appeal, which makes them Premium domains. Any single word from the English dictionary has the potential to be a Premium domain name, for example, Digital.space.
2. Premium domain names are an investment
The biggest differentiation between Premium and regular domain names is that Premium domain names cost more than the latter. The higher cost speaks directly of its value, as Premium domain names are memorable. This means that while the Premium domain name comes at a price, it helps you quickly get off the ground and get seen. For instance, Casino.online, a domain in a highly competitive industry, sold for nearly a quarter of a million dollars but definitely packs a memorable punch.
4 Benefits of Premium Domain Names for Your Business
Premium domain names create an excellent first impression.
With so many competitors wanting customers’ attention, making a good first impression is vital for any business. And it all starts with your domain name. It is, in many cases, the first point of contact between you and your customer.
At first glance, a high-quality domain name comes across as legitimate, meaningful, and even authoritative. In other words, it has a “premium” look and feels. This establishes you as a credible business that has taken the trouble to acquire a Premium domain name, high price tag, and everything. This is in stark contrast to long, clunky, and complex domain names that may be more affordable but come across as clickbait, unprofessional, and even spammy.
For instance, if you are searching online for a real estate company to help you buy your first home, which of the two domain names are you more likely to click on: Realty.space or homez4every1.com?
Premium domain names are excellent for branding.
You need a domain name that breaks through the clutter and stands out in people’s minds. A domain name that is consistent with your brand name and puts the purpose and interest of your business front and center. Premium domain names are premium because they check all these boxes. Take Freedom.press for example. It is brandable, meaningful, and keyword-rich, making it more than just a web address.
The right domain name is a powerful marketing tool for any business. An exact-match domain name to your brand name adds credibility, saving you significant marketing dollars. Thus, despite the upfront cost, it will save you money in the long run. Think of it as an investment rather than an expense.
Premium domain names are highly memorable and searchable.
Your website’s SEO depends on various factors, such as content quality, user-friendliness, speed, and design responsiveness. Your domain name does not have a direct impact on SEO. But a Premium domain name that uses relevant keywords to demonstrate your business’ interests and authority boosts your website’s SEO. For instance, a domain name like Dog.fun directly tells you what the site is about. Choosing the right keywords and domain extension does the job of getting anyone’s interest.
READ MORE: The Beginner’s Guide to SEO Keywords
Premium domain names can help generate more revenue and profit.
Your online sales are inseparably linked to the traffic your website garners. Just like the look and feel of your storefront attracts more potential buyers. In the same way, a Premium domain name attracts more website visitors.
The choice of domain name directly impacts your business revenue. A Premium domain name, like Katana.store, not only attracts relevant traffic that is interested in purchasing what you have to offer, but it will also bring people back to you – if not encourage them to spread the word using the short, simple, and memorable website name.
Secure a Premium domain name for your business
Acquiring a Premium domain is a tough competition and an expensive marketing step. Before you make anything official, you must do your due diligence. For starters, be absolutely sure that this is the domain name you need. Secondly, ensure that the domain name is available and free of copyright protections. You don’t want to spend big on buying a domain name only to change it later because it doesn’t fit your business, or because you infringe upon someone’s legal right.
To find a premium domain name that suits your business and is easy to acquire, consider new domain extensions such as .Store, .Online, and .Tech. They are often more meaningful and relevant than traditional extensions while being more readily available.
Spending a lot on a domain name may seem unreasonable at first, but it will serve your business interests better. In the long run, you’ll reap its branding, SEO, and revenue benefits, among others.
Rebecca Scott is a Sr. Content Marketing Specialist at Radix Web Services. A marketing enthusiast, she describes her role as one part creative explorer and one part strategic alchemist. Her contributions feature in publications related to social media and online marketing.