Your business name often helps create the first impression that potential clients or customers have of your business. That first impression generally makes or breaks their desire to use your services. Domain names have become crucial to shaping that first impression, even for predominantly offline businesses as they are often first searched online by potential clients or customers.
The Impact of a Poor Domain
Sometimes the effect of a poor domain is immediate; your name may not convey trust or high quality that your market is looking for, leading them to pass you over for a different company. There can also be subtle effects that don’t immediately turn away a customer but lose their business anyway. The domain might create a particular expectation that might later lead to lost business.
How Domains Set Price Expectations
A domain name can often set price expectations. If the pricing of your products and services are on the high end of your market, you should avoid having a domain/brand that conveys low cost or low quality or else you can lose customers the moment they find out your price.
An Entrepreneur article, “Could You Charge 70% More With a Better Business Name?”, provides some evidence of that relating to business names. Their specific example involved use of the word Motel instead of Hotel in a brand. Motel conveys small, basic, low-cost accommodations while hotel generally doesn’t.
Looking at an area like luxurious office furniture, a brand like The Premium Collection would convey higher quality than a brand like Office Furniture Shack. Different words can convey different qualities and it’s important to know the difference when choosing a business name.
How the Extension of a Domain Can Shape Impressions
When it comes to domains however, there’s more to consider than the brand itself. The domain’s extension for instance often shapes the first impression of a visitor. Using a non-.com domain for your high-end business will cause visitors to wonder why you don’t have the .com, possibly doubt the quality of your products or services and not be willing to pay premium prices as a result.
The Length of a Domain Should be Considered
Another example is the length of a domain. If Sotheby’s used the domain SothebysPremiumAuctionHouse.com, even though none of the words convey low quality, the length of the domain would compromise the quality of the brand. Settling for a longer, lower quality available domain can make your business appear to be on “Plan B” and that your business wasn’t serious enough to have gotten a better name to suit it.
A Quality Domain Can Add Instant Authority
Nearly all of the most successful online companies use high quality short domains. In fact, some companies like Salesforce.com haven’t stopped with just their primary brand name. They purchase top-tier domains like Data.com, Social.com and Work.com for millions of dollars to establish a feel of authority and dominance in those areas. The premium quality of their brands help justify premium pricing they attach to their corporate services over other companies.
When you buy your business domain, you ultimately need to take into account how potential customers will see it. What will your brand tell them about your company (whether you want it to or not)? With a better domain, you can not only safely charge more for your products and services, but your visitors will expect those higher prices and gladly pay them.