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The Importance of a Premium Domain Name

premium domain name

There are estimated to be 1.83 billion websites on the Internet in 2021.  A domain is the internet address of a website, and they are growing fast with a 4.2% average increase year over year.  In the first quarter of 2021, more than 365.5 million new domain names were registered.  However, as more websites are created, it gets harder to obtain a premium domain, which is a short or easy to remember website address that can provide businesses with many new leads, purchases, and growth opportunities. 

The Impact of Domain Names

Domain names can have a great impact on businesses. Businesses often fight to get access to their domain names.  For example, Elon Musk purchased Tesla.com for $11 million in 2016. In 2017, Cars.com sold for $872 million.  Premium domain names can attract more attention by capturing incoming keyword searches as 71% of buyers begin with unbranded searches and 75% of searchers never scroll past the first page of results.  Better domain names can get better traffic, which help businesses get more potential customers.  The better the domain name, the higher the possibility of the website getting the first position on any search, which has a 34% click-through rate.  Throughout the huge catalogue of websites present on the web, the .com sites have the highest traffic in the world while the top domains have 6.1 to 8 letters in the site’s name. 

Besides increasing traffic to business websites, premium domain names make it easy for people to scale their businesses.  They provide digital solutions for business owners and startups, source better leads and traffic, associate a business’s brand with stronger keywords, and add credibility to the brand.  Vanity numbers, or business phone numbers that have relevant words or phrases, can be paired with domain names as well for maximum effect.  Data even shows that 72% of customers are able to recall vanity numbers in advertisements while 58% of customers prefer a vanity number over a generic numerical one. 

 

Finding the Right Premium Domain Name

Although there are many premium domain names everywhere, picking the right one can take time.  The top provider of domain registration include GoDaddy, the world’s biggest website host with a 16% market share. The second largest is Tucows, with a 5.36% market share.  In order to pick the best name for your business, start by choosing a relevant name with originality. Make sure it is easy to type for mobile users as 48.2% of online traffic comes from phones.  You can buy one already taken by making an offer to the current domain owner.  No matter what domain you choose, it’s important to determine it’s value.  Domains that include popular keywords will rank higher in search results. Pick short, memorable names with simple spelling offer more marketing potential.  A business with a great domain name coupled with a strong brand vision has the potential to outperform competition.

 

Your businesses can reach more of your target audience to achieve success and growth with the right premium domain name. 

Brian Wallace is the Founder and President of NowSourcing, an industry leading content marketing agency that makes the world's ideas simple, visual, and influential. Brian has been named a Google Small Business Advisor for 2016-present and joined the SXSW Advisory Board in 2019-present.

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