1. A name is the first chance to make an impression on potential customers
When Internet users are seeking out a product (or see an advertisement), your domain name is the first thing they will associate with whatever it is you’re selling. Depending on your branding goals, the name can make or break that first impression. First impressions have a lasting effect on a customer’s opinions of a brand because we usually remember the first thing we see in a sequence.
2. A name is how you will be remembered
3. A name is the most used brand element
4. Once in use, a name is very difficult to change
This is why it’s really important that you get it right the first time. A name that is short, engaging, familiar, catchy, and easy to remember and spell. That is a lot of boxes to check, and that’s why it’s difficult to come up with a good brand name. Another difficulty is that many of the short, catchy .com domain names are already taken. This may be why companies pay naming agencies a premium for this type of work!
5. Harder to find available names
As discussed, it’s getting harder and harder to find decent .com names that are available for purchase. Naming agencies and domain investors are constantly coming up with brandable names and buying them up to sell. If you want a one-word .com, the reality is that you will likely have to pay a premium because the name will already be registered by someone. Or the name may already be in use and will be totally unavailable. That said, creative trademarkable names tend to have more availability on the domain market than real words.
Domains are like digital real estate, and just like in real-estate, buyers will pay sellers what they think the names are worth. And time and time again, we have seen short, .com domains regularly hit the six-figure mark.
6. Provides the most return on investment
The bottom line is that a great, branded .com domain will provide a lifetime of return on investment, for all of the reasons listed above. A good name makes a great first impression on customers in a space where having a good name is getting harder and harder to come by.