Domain vs. Premium Domain
In 2011, an inventor named Jamie Siminoff brought together a team of 5 engineers to work out of his garage to create a product that would become DoorBot; a doorbell system that allows you to see and speak to visitors from your smartphone. DoorBot.com was a decent name but not a name one could build a long lasting meaningful business around. They were interested only in the best dot com domain available. The group eventually decided on Ring.com, a name that gives the company a foundation to build something unique and special from. Negotiations for the domain name were lengthy and difficult. It is believed the eventual price was around $1 million. Patzer believes their domain name made a big difference in their ultimate success. Shortly after the name change the company saw a massive increase in web traffic and sales. Ring.com is now a billion-dollar company.
SO WHAT CAN A PREMIUM DOMAIN NAME DO FOR YOUR BUSINESS?
The Impact of the Instant Online Brand: First and foremost, a simple domain name gives your online business an instant brand. Premium domain names are generally easy to remember, easy to type and instantly associated with a product or service. A business owner need not invest much to help potential visitors understand what they might expect to find on sites like these. The domain itself creates an instant online brand that continues to define your online business for as long as you have it.
What does brandable mean, and why is it important? Also known as an “empty vessel” name, a brandable name can be either an invented/made-up word (like Google) or a dictionary word or word pair used in a unique way to describe a trait of a business rather than the business itself.