How a Premium Domain Name Can Help Your Startup Grow
The internet is tightly interwoven with the corporate sector in today's world. And any entrepreneur who wants to build a strong business that will succeed in the marketplace must invest in a premium domain name.
Why? Because your company's website is its online showroom, and the URL of your website is the digital land it occupies.
Premium domain names aren't like any other type of digital real estate; they're like high-end luxury mansions. Due to a limited supply and high demand, these premium domains, like any trophy property, are costly.
Top-quality domain names like Apple and Microsoft are excellent options for tech brands looking to acquire a competitive edge by rapidly increasing their company's trust and reputation.
And that is just the surface of the iceberg regarding what a premium domain name can do for your business. So, with no further ado, let's look at how high-quality domain names can help you grow your tech company.
Here's what you'd be discovering
- What are top-quality domain names, and how can you find one?
- What does a premium domain name embody?
- Why should your business consider a premium domain name?
- How to get premium domains
- Premium domains are an excellent investment.
What is a Premium Domain Name, and How Can You Find One?
The word ‘premium domain name' refers to a top-quality website link that is brief, memorable, and usually ends with .com. Premium domains provide excellent branding opportunities for tech brands who hold them.
These unique names have distinct qualities that set them apart from the competition while still achieving the essential purpose of all domains: to assist visitors in finding the website they're looking for. And one of the best ways to find a premium domain name for your tech startup is to engage the help of reputable naming agencies.
What Does a ‘Premium' Domain Name Embody?
To fully understand what a premium domain name brings, you must first realise that business owners buy domains to reflect their brand, serve as a resource for marketing campaigns, or simply because they don't want their competitors to have them.
Companies are willing to pay more for domain names if it aids them in achieving their commercial and branding goals.
The following are some important examples of what a premium domain name brings to the table:
- They're Brief: Less is so much more regarding domains. Shorter domain names also make it easier for customers to find these brands online.
- They're Brandable: A premium domain name makes it much easier for businesses to develop their identity quickly.
- They Use Reliable Extensions: There are thousands of website extensions, but the most recognised and default in customers' minds when engaging with domains are .com, .org, .net, and .io. And premium domains always come with these extensions.
- They Send a Strong Message: Customers can get a complete idea of your firm's products and services by looking at your premium domain names.
- Premium Domains are Search Engine Friendly: Premium names are SEO-friendly since they typically match the specific words clients are looking for.
Why Should Your Business Consider a Premium Domain Name?
It Secures the Most Appropriate Domain Link for Your Business
One differentiating trait of top-quality domains is that they provide the best avenue for conveying the spirit of your company's identity.
Elon Musk bought his much-adored Tesla.com domain from Stuart Grossman after ten years and $11 million.
And one of his motives for waiting so long was that he understood that the best way to represent his firm in the digital age is with a premium domain name tailored to a brand.
Many people looking for Tesla online were browsing for Tesla.com rather than Teslamotors.com, and this simple factor negatively affected the company's online performance. As an entrepreneur, do your best to obtain a quality domain name that is an identical match to the name of your company.
Why? Because anybody, even your rivals, can use a .com domain similar to your brand's name for malicious purposes. And this will harm the online reputation of your brand.
Acquiring a premium domain name that's the same as your company's name and its social media handles will increase your online presence and make it more visible to your target audience.
Choosing a domain name that is slightly different from your business's name will have an impact on the effectiveness of your brand. That's precisely what happened when Alphabet Inc, Google's parent company, entered the market using the domain name Abc.xyz, instead of Alphabet.com, which BMW still owns.
Because Alphabet Inc. did not use a premium domain name, many customers visited Alphabet.com. And to drive traffic and visitors to their website, Alphabet.Inc spent billions of dollars.
They are Short and Easy to Say
The importance of simplicity in domain names cannot be overstated. Your company's website functions as its online store, its URL serves as the digital land it holds, and your domain name functions as the address of your online store.
Short and simple domain names, such as those provided by premium domain names, are simple to speak and remember, and they also enable more typo-free entries when clients search for your business online.
But it doesn't end there because your domain name conveys a clear message, so buyers can quickly grasp your company's products or services just by looking at the domain name. And the best approach for any entrepreneur to obtain a premium domain name is to work with a naming agency.
Given the scarcity of high-quality domain names, you may be swayed to grab a longer domain name. However, before you do, know that long-tail domains can be bad for your brand if they do not look legitimate or trustworthy to prospective customers.
Makes it Stress-Free for Customers to Find You
Getting a premium domain name should be the ultimate objective of everyone launching any business online. Purchasing a premium domain name makes it much easier for your primary audience to remember, search for, and find your company online.
Let's examine Alphabet Inc. more closely. First, the holding company does not own Alphabet.com, nor does it own the @Alphabet Twitter handle. It doesn't even control the Alphabet Facebook page. Instead, it uses different user names across various social media channels. And sure enough, customers found it complicated to keep up with the company online.
If you're an entrepreneur running an online shoe brand and want customers to locate you quickly, then know that a premium domain name like bestshoes.com is far preferable to a domain like thebestshoestore4u.com.
It'd Enhance Your Business's Credibility
The reliability and integrity of your tech company's website are enhanced by obtaining a premium name, not to mention that customers will be more inclined to visit and purchase from your website.
Let's say you want to purchase a new automobile and need a loan, but you're not sure whom to deal with, so you do a quick Google search and get a Plethora of results. And even though you'd see several sites like credit.com, loan.com, and carloans.com, there's a great chance you'd be setting for carloans.com.
Premium domain names provide you credibility and authority over the competition when establishing great first impressions with customers.
They're Keyword Friendly
Deltaprivatejets.com, Meatyourmaker.com, Gmail.com, and Generalmotors.com all carry keywords that provide visitors with a clear indication of the services these companies provide.
And even when founders don't use a premium domain name containing keywords, as we see with Apple.com and Tesla.com, they choose compelling, brandable domain names that exude uniqueness, creativity, and innovation.
These domain names make it easier for businesses to establish a strong brand identity. And without a doubt, buyers are drawn to brandable domain names.
Prevents Others from Using a Valuable Domain Against You
Most of the time, the perfect brand name for your firm is already used by another business or has been parked by someone else.
Consider this scenario: your company is already recognised as Imperial Tech. If Imperialtech.com is bought by someone else, although not a rival, it remains a massive problem for your business growth since clients searching for you online will end up at someone else's doorway, depriving your site of valuable customers.
Our example above may appear ludicrous, yet it is precisely what happened with Nissan Motor Company and Nissan Electronics. Nissan Motors went to great lengths to obtain the domain name.
For almost a decade, the automotive company engaged in a protracted legal struggle with Uzi Nissan, the founder of Nissan Electronics and owner of Nissan.com. In the end, Nissan Motors lost the case.
If you don't take a premium domain name off the market as Facebook did with fb.com, your competitors will most likely buy it and use it against you. And this could hurt your company's traffic and conversion rates.
Promotes Brand Growth
Premium domains, unlike common domain names, will grow with your company. And, just as several corporations change their brand name because it cannot scale with their business, most companies that do not choose a premium domain name early on often replace their brand's weak domain name with a premium one.
A solid example was how PayPal updated its website's name from X.com to PayPal.com, and Twitter moved from Twttr.com to Twitter.com.
So, while a beautiful name like hotelsolutions.com may seem hip and catchy, it will limit your company's advancement both in its sector and in the eyes of your clients because they will associate your brand primarily with hotel-related services.
Choose a domain name that reflects your company's existing goods and services and prospects for the most remarkable results.
How to Get Premium Domains
Sedo is one of the leading domain markets. The platform offers a diverse variety of premium domain names at great prices. Sedo also allows buyers to analyse and compare statistical information between two or more domains.
Sedo also offers brokerage services that help facilitate and secure the negotiating and transfer procedures. This way, buyers can rest assured that a professional broker handles their transactions.
Flippa is an auction-based marketplace that has built a name for itself as a reliable platform for selling and purchasing domains, apps, and even entire internet-based businesses.
The platform allows users to perform due diligence and spot suspicious activity and growth opportunities. Flippa's due diligence can analyse domain activity over three years and provide critical information on industry trends.
Whether you're planning on starting a tech, fashion, or healthcare business, Squadhelp is one of the best platforms for finding a premium domain name that aligns with your brand.
Squadhelp is easy to use and allows visitors to explore the best premium domains on the web. The platform doesn't only feature a unique collection of expert-curated domain names; users can also launch a naming contest with thousands of creative experts that'd help you find a name that's particularly tailored to your business.
Premium Domains are an Excellent Investment
A quality domain name is well worth the money, even if it is pricey on the secondary market. It's an essential component that any tech company should have because it represents the brand's digital identity.
Author Bio: Grant Polachek is the head of branding for Squadhelp.com, 3X Inc 5000 startup and disruptive naming agency. Squadhelp has reviewed over 1 million names and curated a collection of the best available names on the web today. We are the world's leading crowdsource naming platform, supporting clients such as Nestle, Dell, Nuskin, and AutoNation.