In this guest post Andrey Insarov, CEO of it.com, shares his take on the importance of choosing the right domain name, and how it can impact your business.

The concept of domain names emerged in the early days of the internet as a human-friendly alternative to the complex numerical IP addresses that computers use to locate each other. Introduced in the 1980s, the Domain Name System (DNS) was designed to translate these numeric addresses into memorable names. The first domain, symbolics.com, was registered on March 15th1985, marking the beginning of a new era in digital identity and branding.

Today, domain names are not just technical necessities but valuable business assets, often commanding high prices due to their strategic importance. The most expensive domain name ever sold, Cars.com, was acquired by Gannett Co. in 2014 for a staggering $872 million, illustrating how significant a domain can be to corporate strategy. But then this did include a good share of the whole company too! Other high-value domain names include Voice.com, sold for $30 million in 2019, and Sex.com, which changed hands for $14 million in 2010, showcasing the premium placed on catchy, relevant names.

There are approximately 350 million registered domain names globally, growing by about 13.2 million annually, highlighting the vast digital real estate organizations can claim.

Selecting the right domain name – or several – is crucial for organizations of all types and you’ll know yourselves that the first place most go to when deciding the name of any new venture are domain name companies to see whether a particular name has already been taken!

I put together here the key reasons why I think great domain names should be on your radar:

1. First Impressions Matter

The domain name is often the first interaction potential customers or partners have with your organization online. It sets the tone for what your brand represents. A domain name that is easy to remember, spells correctly, and conveys the essence of what the organization does or stands for can make a lasting positive impression.

2. SEO and Online Visibility

Search Engine Optimization (SEO) is crucial for online visibility. A domain name incorporating keywords relevant to your business can significantly boost your SEO rankings. This doesn’t mean stuffing the domain with multiple keywords but rather choosing one that aligns with popular search terms related to your services or products. For instance, ‘BestChocolate.com’ could fare better in searches for chocolate than a more generic or unrelated name.

3. Brand Protection and Trust

Securing a domain name that matches your brand name or key products helps in preventing competitors or bad actors from using similar names to mislead consumers or dilute your brand. This is particularly important in preventing cybersquatting, where individuals register domain names of well-known brands to sell them back at a premium or to exploit them for fraudulent activities. By owning variations of your domain name (like .com, .net, .org), you protect your brand’s integrity and consumer trust.

4. Expansion and Diversification

For organizations with future growth plans, having a series of domain names can be strategic. For example, a company might start with a domain focused on its primary product but later acquire additional domains related to new product lines or services. This not only helps in marketing these new ventures but also in maintaining brand consistency across different sectors or product/solution categories.

5. Geographical Targeting

If an organization operates in multiple countries or regions, geographical domain names (like .uk, .de, .it) can be highly beneficial. They not only help in local SEO but also resonate better with regional audiences, suggesting a localized presence or understanding of local markets. This can enhance customer trust and engagement in those areas.

6. Flexibility and Future-Proofing

The internet landscape evolves, as do trends in domain naming. Having a portfolio of domain names allows an organization to pivot or adapt without losing its digital identity. For instance, if a company expands its mission or rebrands, it might need a new domain that reflects this change. Owning multiple domains provides the flexibility to redirect traffic to new initiatives or campaigns seamlessly. It’s not uncommon for major brands you know and love to own domain name portfolios extending into the hundreds – or even thousands!

7. Marketing Advantage