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This is Why Premium Domains are The LifeBlood of Every eCommerce Startup

In today’s society, the internet is now strongly linked to the business sector. And every business person who wants to build a successful company must invest in a premium domain name.

Why? Because your business’s website not only serves as its digital address but can improve your online performance and make it easier for customers to find your site.

Premium domain names are not like other types of domain names; they are equivalent to valuable assets. These premium domains, like any trophy asset, are often extraordinarily costly in terms of money and the time it takes to find one due to their limited quantity and strong demand.

Some premium domain names, such as Apple and Microsoft, are good choices for companies seeking to gain a competitive advantage as they swiftly enhance their company’s brand and reputation.

Yet, that is only the tip of the iceberg when it comes to what a premium domain name can achieve for your company. So, without further ado, let’s look deeply into premium-quality domain names and how they could help your startup flourish.

Here’s what you’d find out.

What are Premium-Quality Domain Names, and How Do You Find Them?

A premium domain name is a high-quality web address that stands out from the typical domain names available because it carries all the desirable qualities a domain name should have. It is concise, memorable, and typically ends with .com. 

Many popular domain names nowadays are all premium domain names. They have a way of standing out and sticking in the minds of customers that use them, and they also provide fantastic branding options for startups that own them.

Premium domains usually contain one word or at most two recognizable keywords, which could be the name of the host company or the product or service they offer.

Some common examples of premium domains are the earlier mentioned apple.com and microsoft.com, amongst others, including carinsurance.com and literally every domain name you know that reflects a company name.

And one reliable way to get a premium domain name for your startup is to work with a reputed brand name generator.

Why Get a Premium Domain Name?

To properly comprehend what a premium domain name contributes to your firm, it is important to understand that company owners purchase domains to represent their brand, act as a resource for raising brand awareness, or simply because they do not want other people to have them.

Companies are ready to pay a premium for domain names that help them achieve their financial and branding objectives, and this is because they offer the following benefits:

  • They’re Short: When it comes to domains, less is more. Customers can locate these brands with shorter domain names more easily online.
  • They’re Brandable: A premium domain name is just right for the company’s image and makes it much easier for businesses to build their brand around them.
  • They Make Use of Reliable Extensions: There are dozens of website extensions, but the most well-known and default in the minds of customers when they interact with domains are .com, .org, .net, and .io. These extensions are always included with premium domains.
  • They Send a Clear Message: Customers can gain a comprehensive understanding of your company’s products and services by checking your premium domain names.
  • Premium domains are tailored for search engines: Premium names are SEO friendly as they generally match the particular words clients are looking for.

These different names stand out from the crowd while still serving the primary objective of all domains: assisting visitors in locating the website they’re searching for.

So, Why Should Your Company Consider Purchasing a Premium Domain Name?

1. It is the Best Website Address for Your Business

One distinguishing feature of high-quality domains is that they provide the finest channel for communicating the essence of your company’s brand.

We weren’t surprised that after ten hard years and $11 million, Elon Musk finally purchased his beloved Tesla.com domain from Stuart Grossman. One of the reasons Elon Musk spent so much was that he realized that the greatest approach to representing his company in this digital era is with a premium domain name that is specially customized to his brand. 

Over the years, many consumers searching for Tesla online were going to Tesla.com rather than Teslamotors.com, and this simple element was hurting the company’s online presence and had to be fixed.

Take a moment to imagine how damaging it’d have been for TeslaMotors if  tesla.com had fallen into the wrong hands.

Purchasing a premium domain name that is the same as your company’s name and social media handles will boost your online presence and make you more visible to your intended audience.

Furthermore, choosing a domain name that is slightly different from the name of your company will negatively impact how well your brand performs.

And speaking of domain names that don’t match the brands they represent, let’s take a look at abc.xyz. Alphabet Inc, Google’s parent company, took the domain name abc.xyz rather than alphabet.com—which is a perfect match for their company name—because it was and still is being held by BMW.

Many clients ended up visiting BMW’s Alphabet.com since Alphabet Inc. did not utilize a premium domain name. Alphabet Inc. had to spend tons of cash to drive traffic to their site. The moral of the story is that you must consider your domain name when establishing a name for your business so as not to face the same peril as Google’s Alphabet.

2. They are Brief and Simple to Say

The significance of domain name simplicity cannot be overly emphasized. Like we earlier said, domain names function like how everyday addresses do, and it’s common knowledge that the easier your address is, the easier your brand would be to locate.

Short and simple premium domain names are easy to say and remember, and they also allow for more accurate results when people look for your business online.

But it doesn’t stop there. Because your domain name provides a short and clear message, shoppers can instantly understand and remember the domain name without much strain or dependence on their mental capacity.

Though, given the difficulty of finding a high-quality domain name, you may be tempted to acquire a longer domain name. However, keep in mind that long-tail domains can have a negative impact on your website and, by extension, your brand, as they are difficult to remember and do not appear authentic or trustworthy to prospective customers.

3. Your Target Audience Can Easily Locate You

To elaborate on the previous points, premium domain names’ overall characteristics make them so much easier to be located. It should therefore be the ultimate goal of anyone starting a business, whether online or offline.

Investing in a premium domain name makes it much easier for your target audience to identify, search for, and locate your business online.

Let’s take another look at Alphabet Inc. First off, the @Alphabet Twitter handle is owned by someone else, not Alphabet Inc. The same thing for Alphabet.com and the Alphabet page on Facebook. Instead, it employs many user identities across various social media networks. As a result, clients find it extremely difficult and time-consuming to keep up with the firm online.

Let’s say you’re running a shoe company; if you want people to be able to find you quickly, a premium domain name like bestshoes.com is significantly better than a domain like thebestshoestore4u.com.

4. It Would Boost Your Company’s Credibility

Obtaining a premium domain improves the legitimacy and credibility of your company’s website, not to mention that clients will be more motivated to come and buy from your website.

Let’s assume a client wants to buy a new car and needs a loan but is not sure who to contact, so he does a quick Google search and receives dozens of different options.

Even if he were to encounter sites like credit4carspurchase.tk, quickloanforfree.com, and carloans.com, there’s a good chance that they’d click on carloans.com because not only is it shorter, but it also looks more trustworthy.

Ultimately, when it comes to making unforgettable first impressions with consumers, premium domain names give you authority and credibility over the competition.

5. They’re Search Engine Friendly

Deltaprivatejets.com, Gmail.com, and Generalmotors.com all have words that clearly indicate the services that these companies provide.

Even when founders do not employ a keyword-rich premium domain name, as we see with Apple.com and Tesla.com, they choose appealing, brandable premium domain names that express their company’s individuality, creativity, and originality.

These sorts of domain names help firms develop a strong brand identity. Buyers are undeniably attracted to brandable domain names.

6. It Keeps Others From Using a Strong Domain Against You

The ideal brand name for your company is almost always already in use by another company or has been parked by another. 

Consider the following scenario: your firm is already known as Imperial Tech. If someone else buys Imperialtech.com, even if it is not a competitor, clients searching for you online will wind up at someone else’s doorstep, depriving your site of potential consumers and restricting growth.

The previous scenario may look absurd, yet it is precisely what happened with Nissan Motor Company and Nissan Electronics. Nissan Motors went to extraordinary measures to get the domain name nissan.com from Nissan Electronics.

And for over two decades, the automobile firm engaged in a legal battle with the owner of Nissan.com and founder of Nissan Electronics and owner of Nissan.com, Uzi Nissan. Nissan Motors eventually lost the case.

If you do not acquire a premium domain name, as Facebook did with fb.com, your competitors will most certainly buy it and use it against you. This might have a negative impact on your company’s traffic and conversion rates.

7. Promotes Brand Expansion

Premium domains, as opposed to conventional domain names, will grow with your business. And just as many organizations change their brand name because it cannot grow with their business, most firms that do not pick a premium domain name early on frequently replace their brand’s weak domain name with a premium one.

PayPal had to change its website’s name from X.com to PayPal.com, while Twitter changed its name from Twttr.com to Twitter.com.

So, while a great name like hotelsolutions.com may appear trendy and catchy, it will hinder your company’s growth both in its industry and in the eyes of your customers since they will link your brand solely with hotel-related services.

For the best outcomes, if you don’t want to choose a domain name that reflects your brand name, choose one that portrays your company’s current goods and services as well as its future aspirations.

How to Acquire Premium Domain

 1.Sedo

Sedo is one of the most reliable domain marketplaces. The platform provides a wide range of premium domain names at competitive costs. Sedo also enables purchasers to evaluate and compare statistical data from two or more domains.

Sedo also provides brokerage services to aid with the negotiation and transfer procedures. Buyers who aren’t familiar with buying domains can rest assured that their transaction is being handled by a competent broker.

2.Flippa

 Flippa is an auction-based marketplace that has established a reputation as a trustworthy platform for selling and acquiring domains, applications, and even entire internet-based enterprises.

 The software enables customers to do proper research and identify any questionable behavior as well as potential development prospects. Verification and validation performed by Flippa may evaluate domain        activity over a three-year period and offer critical information on industry developments.

3.Squad Help

Squadhelp is one of the greatest sites for selecting a premium domain name that aligns with your brand, whether you’re starting a tech, fashion, or healthcare firm.

Squadhelp is simple to use and helps users discover the top premium domains available on the internet. The site not only offers a one-of-a-kind selection of expert-curated domain names; customers can also hold a naming contest with thousands of creative professionals to assist them in choosing a name that is specifically matched to their business.

Premium Domains are a Great Investment

An excellent domain name is definitely worth the investment, even if it is too pricey on the secondary market. It is a necessary component for any startup since it symbolizes the brand’s digital 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.