Having a dedicated website for a business is not a novel idea, but some give too little thought to what they’re naming their sites – even in the C-suite. BusinessWire reports over 349 million domain name registrations were made under VeriSign in 2022 alone. That means tougher competition for online domination, especially for small to medium-sized enterprises. However, this is where your domain name comes into the picture – giving your business a higher success rate.
1. Choosing a domain name is a major business decision
In our ‘What Are the Key Qualities of an Entrepreneur?’ article, we emphasise the importance of decisiveness and taking advantage of opportunities. Deciding on a domain name is one of the first decisions to make and holds significant weight to the outcome of the business. Your brand or domain name affects business identity, marketing strategies, and customer’s perception of the company values, to an extent.
2. Domain names affect branding
You and your marketing team will have to develop a branding strategy that captures both the enterprise’s values, as well as the products or services that are being offered. This can be easier said than done, and creating an apt name can be a challenge. But by using a tool such as Namechk.com’s domain name generator, you can input keywords and get a list of relevant suggestions for your site. You can also check domain name availability.
3. Domain names indicate legitimacy
It’s also been proven that customers find top-level domains (TLDs) more trustworthy. An article by CircleID revealed that .com and .net TLDs retain their popularity despite recent price increases in 2022. Research also shows that people are 3.8 times more likely to assume businesses end with .com than other TLDs. This is something to remember when shooting for a domain name – of course, this varies from case to case.
4. Prioritising domain names for legality
Having similar ideas with competitors is not rare, but this can be grounds for serious issues like copyright strikes. In fact, The World Intellectual Property Organization disclosed statistics showing that the number of domain name dispute cases continues to increase year after year, especially in the US, China, and the United Kingdom. Besides ensuring the uniqueness of your brand, legal disputes are also something to pay attention to.
5. Your domain name will bring in revenue
The easier to find your website is, the more revenue you’ll be able to amass. Although your domain name won’t directly impact your search engine result rankings, it’s an avenue for your business to communicate your brand’s values in a straightforward way. Paired with a fast loading time, high-quality content, and organised backlinks, your website will attract more and more customers – and in time, generate more sales.
6. A domain name is an investment
According to CMI business-to-consumer marketers, their top three goals include creating brand awareness, building trust, and educating their target audience. This is why a lot of businesses have been focusing on refining their branding packages and ensuring consistency. We highly recommend bringing these values into choosing a domain name, because, at the end of the day, it’s an investment that will pay off in time.
Final Thoughts
In this article, we’ve listed six reasons why finding the right domain name is crucial. It’s a decision that is often made at the early stage of startups, but it isn’t one that is easily altered. Moreover, there’s no right or wrong way to choose one, as it also largely depends on your brand, the domain name availability, and other factors. Therefore it’s best to consider all your options and take your time to make the best possible choice.
Also Read: Amazon purchased three new cryptocurrency related domain names
