Today’s business world relies on the internet more than ever before. So, entrepreneurs looking to create robust companies that succeed in the market must consider buying a premium domain for their websites.
Why buy a premium domain? Simple! Your website is the virtual shop of your brand, and the website is its virtual street address.
Premium domains are not like other common types of digital real estate; they’re more like opulent estates. And much like any other kind of luxury real estate, they can be costly because they’re in popular demand but limited in quantity.
In fact, premium domains are one of the smartest choices for internet-based and digital brands that want to help quickly solidify their reputation and trust in the brand.
But this is just a sample of how a premium domain can help your startup. Let’s take a look at the other benefits you gain from buying one of these domains.
What’s A Premium Domain?
A premium domain is a web address that’s high quality because it has attributes that include being catchy, short, and ending with the term .com. These unique characteristics help premium domains stand out and accomplish the goal of any domain: help consumers find your website.
One reliable way to shop for premium domains is through the help of a naming agency. However, other people get creative and use name generators or even host a naming contest.
How Do You Know A Domain is “Premium?”
To understand what makes a domain “premium,” you should first know that entrepreneurs and startups buy them to represent their brand better, to use them in their marketing plan, and to keep competitors from buying the premium domain.
Founders will happily pay top dollar for the best domain name if it helps achieve their branding and marketing goals.
These are the crucial elements contained in every premium domain name:
- Short Names: Domain names need to be as short as possible to help your customers find the website.
- Brandable: Building a brand is much easier with the help of a premium domain.
Popular Extensions: There are many website extensions available, but the most popular remain .com, .io, .net, and .org.
- SEO-Friendly: Premium domains generally match the phrase that customers use to search, making them very SEO-friendly.
- Convey Messages: Premium domains help to give consumers a clear image of what a brand represents.
Here’s Why Your Company Needs A Premium Domain Name
#1 Secures the Best Domain
Elon Musk purchased the Tesla.com domain from Stuart Grossman for $11 million after waiting ten years to secure it.
Elon waited so long because he knew the greatest approach for building a digital empire was with the help of a premium domain name. A name that makes it simple for customers to recall and find your company.
#2 Easiest Way for People to Find Your Business Online
And this brings us to our next point; premium domains make it easier for customers to find your business online. Read that again!
Let’s say you’re opening a children’s shoe store. To help people find it quickly, a premium domain such as kidskicks.com is a much better option than childrensshoes4everyone.com.
#3 Builds Trust & Signifies Credibility
Investing in a premium name enhances your company’s trustworthiness and credibility. And when customers trust your website, they are much more apt to browse and make a purchase.
#4 Keeps the Name out of Competitor Hands
Let’s take a moment and reconsider the shoe store Kids’ Kicks. What would happen if someone already owned kidskicks.com? Well, you’d probably have to pay their asking price for the domain if you really wanted it.
And if you don’t, a competitor could go behind your back and secure it. Not only would your site get less traffic, but you’d also have fewer sales.
Take the Leap – A Premium Domain is Worth it!
Sure, premium domains can be costly on the secondary market, but trust us when we say they are worth every penny! If you don’t recall anything else from today, just know that a premium domain is a vital element every startup needs to build a successful 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 from early-stage startups to Fortune 500 companies.