Reasons to Upgrade Your Domain Name
Buying the best possible domain name for a business can be a daunting task. Meaningful domain names have had significant value for more than 20 years, and with that value usually comes a hefty price tag. While some companies balk at paying for the best domain name, it is likely that they will pay a far greater price by having a second rate domain name. Buying the best domain name for a business can drive revenue and lower ongoing marketing costs.
Many businesses start out using an imperfect domain name. Startups, for example, may opt to register an off-brand .com or a country code domain name in an effort to save money. This short term cost savings may help increase runway, but it may impede the business as it grows. A mature business should operate on a domain name that matches its brand name. In this article, we share some important reasons for why a business should upgrade its domain name.
Credibility and Trust – Having a brand match .com domain name gives a business credibility and conveys trust to customers and prospects. Think about your bank’s website. Does it operate on a non .com domain name? Does it use additional keywords? Unlikely. Chase Bank, for instance, uses Chase.com. Wells Fargo not only uses WellsFargo.com, but it also owns the WF.com domain name as well. Ally Bank uses Ally.com. Customers know when they visit Chase.com or Ally.com they are on their bank’s website rather than another company’s website. Having a domain name that matches a brand gives a business more credibility.
Marketability – With a brand match .com domain name, a business looks more serious. There’s no silly alternative domain ending. Customers won’t be confused by seeing an additional word appended to the brand name in the url. A serious business can show-off its url in marketing materials. Instead of spending any time or effort explaining how customers can find its website, a business can promote its products and services.
Customer Recall – Using a domain name that matches a brand name helps consumers easily recall the company’s website. They know they can simply type-in the name of the company in .com and they will visit the correct website. In addition to visiting the right website, customers can easily share a business website with friends and family. “Where did you get your great domain name,” a business colleague might ask. “I bought it from Embrace.com,” would be a much better answer than “I bought it from EmbraceSomethingOrOther dot something.” If your customers and prospects can remember your website name, it will be much easier for them to find your business and refer friends there.
Email Deliverability – One of the most underrated reasons for having a brand match .com domain name is email deliverability. A company that is in the process of fundraising wants to ensure inbound emails are sent to the right person at the right company. People tend to assume that businesses operate on their brand match .com domain name, and even if your email address is printed on a business card, people may conflate it with something else. You certainly don’t want misdirected confidential emails to go unanswered – or worse – sent to someone outside the organization.
Buying the right .com domain name can be the best decision a CEO or Founder can make for their business. In fact, here are some comments from CEOs, founders, and entrepreneurs who acquired their best .com domain name.