As more businesses move their operations online every day, the commercial world now depends more on the internet than it has in past years. Because of this, business owners who want to build an all-around organization and position themselves as authorities in their fields spend money on premium domains, as they help firms stand out in the internet marketplace.
But why should you get a premium domain rather than a generic one? There’s an explanation for that. Your website is your online store, and your domain name, or a virtual address, plays a vital role in deciding how easily accessible it is, as it’s the entrance to your company’s website.
Although buying a premium domain name is an expensive ordeal, that’s because they’re in high demand and hard to come by. Acquiring one is among the best ways for companies to quickly increase their brand authority and online reputation.
These are just a few positive effects a premium domain will have on your company. But first, we must grasp what a premium domain is in order to fully comprehend the benefits of purchasing one.
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What are Premium Domains
A premium domain name is a high-quality internet address that is short, easy to write, say, or recognize, and ends in ‘.com’ or a similar extension. These characteristics set premium domains apart while still achieving any domain’s objective: directing customers to your website.
And because they completely match the name of your company, premium domains are also known as Exact-Match Domains (EMDs). A premium domain name serves as the name for your firm on the online market, while your brand name functions on the offline market.
This is important to remember when coming up with ideas for your business name via company name services because, invariably, you’ll also need a matching premium domain name for any name business name you come up with.
How to Tell if a Domain is a Premium One
Each premium domain name includes essential elements that set it apart from others. And if you want to grasp what makes a domain name ‘premium,’ note that they are:
Reliable and Simple:
Premium domain names are short, memorable, and easy to remember. Customers can use them to search, browse, and reference your website easily.
And when it comes to domain names, less is more. Short, premium domain names are great for branding compared to long, generic domain names.
Because it accurately reflects the brand it represents, creating a powerful brand identity is much simpler with a premium domain name. A premium domain is one of the most vital tools for helping company owners expand their business’s online identity.
And because they accurately reflect the brand they represent, a premium domain is a vital building block to establishing a memorable brand identity.
Premium domains are particularly SEO-friendly since they closely match the words that clients use and search for, not to mention that they have well-known domain extensions like ‘.com,’ ‘.io,’ ‘.net,’ and ‘.org.’
Easy to Understand:
Picking a premium domain name makes it easier for customers to quickly understand the goods or services your company is providing.
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Reasons Why Your Business Need a Premium Domains
After having discussed how to recognize a premium domain, let’s now look into how premium domains work and why your company needs one.
It Matches Your Company’s Business Name
Because they are so good at capturing the essence of your startup’s identity, premium domain names solidify their position as the best option for your business.
By purchasing an exact match domain, you’d increase your brand’s online visibility and recognition. It would also facilitate other online branding elements like your social media handles.
But picking a web address that is noticeably dissimilar from your company’s name would harm your brand’s online identity as opposed to a reliable premium domain name that promotes your brand’s reputation and recognition.
Gives Customers Easy Access to Your Website
Potential customers can locate your business online more quickly when you have a premium domain. Customers can reach a company’s website with a premium domain name by only hearing its brand name.
However, using a domain that isn’t premium will significantly reduce how accessible your website is.
Quickly Builds Trust and Credibility
The image and trustworthiness of your business are enhanced by purchasing a premium domain name. Customers will undoubtedly consider a website matching a company’s brand as legitimate.
And if your website appears trustworthy to customers, they’ll be far more likely to visit and purchase from it. But a non-premium domain name won’t give your website this legitimacy.
Protects the Domain From Being Acquired by a Rival
Now that you know the perks of having a premium domain name, you will also understand the implications of a competitor acquiring your domain name.
This is what happened to Nissan Motor Company and Nissan Electronics. Nissan Motors went to great lengths to get the domain name nissan.com from Nissan Electronics.
And for more than two decades, the vehicle company was buried in a legal dispute with Uzi Nissan, the owner of Nissan.com and the creator of Nissan Electronics. Nissan Motors ultimately lost the case.
That said, if you don’t reserve a premium domain for your website like Facebook did, a rival will do so first and either harm your chances of success online or sell it to you for a higher price.
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Purchase a Premium Domains!
Just as in your physical market, the rate of people visiting your business will depend on your address. By using a premium domain name, you will expose your business to a larger number of customers ready to visit and buy from you on the internet.
The best domain names aren’t picked at random; instead, they are carefully crafted to provide the best customer experience. And if you want to keep your domain name fresh in your customer’s mind, you must have a well-designed site and remain committed to building an exciting brand identity for your business. The focus of your brand must be on your customers.
In the end, even though premium domain names are pricey on the secondary market, it is worth it to get a premium domain name because their contributions to business success are priceless. Using a premium domain name will boost your brand’s online performance by exposing your company to a large number of customers who are in need of your products or services.
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 from early-stage startups to Fortune 500 companies.