If you don’t buy the premium domain name for your given trademark term, you could lose would-be website visitors to another company.
Although there are over 1,000 top-level domains in existence, there is only one .com, which can be registered for a given term. Over the years, .com has earned the reputation as the Internet’s favorite domain name. So much so, that customers automatically associate website addresses with .com. It is so common it makes up over 50% of all domain name registrations.
That’s not to say that all premium domains are .com – they don’t have to be. With all of the new domain endings like the .BANK domain or a .APP domain available today, you can buy a premium domain name that is tailored to your industry or your “thing”. There’s only a certain amount of permutations available for key terms and phrases which is how you value premium domain names as worthwhile. When you buy a premium domain name specific to your market, you own that space in a way that none of your competitors can. This year has been a record year for new domain names being sold for 6 figures.
www.home.loans
Home.loans sold for $500,000 to entrepreneur Blake Janover. The domain name is for a site that covers residential home loans.
www.vacation.rentals
Vacation.rentals broke the record for the highest publicly reported sale of a new top-level domain when it was acquired for $530,000.
Benefits when you buy a premium domain name
1. Protect Your Trademark
Many domain name disputes arise from both parties seeking to buy the premium domain name for their trademark name. Simply owning a trademark does not mandate your rights to a domain when it could also apply to another legitimate business. The domain registration process is very much a first come-first served ecosystem. One may not be able to forcefully recover a domain name if the domain owner has a legitimate use for the name that does not compete with your trademark.
The United States Patent and Trademark Office (USPTO) will register a trademark to multiple parties as long as it passes the “no likelihood of confusion test”. If the USPTO determines there is enough differentiation between applicants, they will grant multiple trademarks for the same term.
If you don’t buy the premium domain name for your given trademark term, you could lose would-be website visitors to another company.
2. Rank For Your Key Term
Premium domain names help grow your SEO. If you buy a premium domain name for your key term, you automatically capture the traffic for those high value search terms. The last thing you want is for a new startup or another brand building brand equity with all of your hard work. The brand who owns the premium domain name for their term owns the messaging for that term.
3. Cohesive Branding
The backlash we hear most often is that companies aren’t willing to spend that kind of money on a domain name. Many people are hesitant to buy a premium domain name for the premium domain price. What they don’t know is that they are already paying for it – from not owning their premium domain name. They pay for it with the confusion created with inconsistent marketing and branding.
The Takeaway
One of the most important pieces of intellectual property a brand owns today is their premium domain name. Domain names are assets, crucially important to the very DNA of a brand. Today’s domain names have become de facto online trademarks of a business, which is why anyone who is serious about growing their company needs to buy a premium domain name for their brand.