Achieve better branding

And establishing and maintaining a strong brand is key for any business, especially in today’s increasingly crowded marketplace. Benefits from strong branding include:

• Repeat purchasing: Only 12 – 15% of customers remain loyal to a single company but those same customers are responsible for 55-70% of that company’s sales. In other words, even a small group of brand enthusiasts can help boost a business’s bottom line.
• Improved word-of-mouth: Loyal customers are valuable because they are not only repeat customers but also because they build strong word of mouth. People are, on average, twice as likely to pay attention to friend, family, and colleague recommendations than any other source.
• Superior positioning: A brand’s position - what your brand stands for and what the customer can expect from you - will be the first thing a customer thinks about when he or she hears your name.

And one way to more effectively communicate your business’s brand message is with a branded domain name which, perhaps not coincidentally, account for 34% of all new TLD applications.

Branded domain name = branding gold

Although each TLD is priced differently, making some domain extensions simply too expensive for the average small business, there are still plenty more that are affordable.

And, regardless of cost, the value a branded domain name can bring shouldn’t be overlooked. Here are three points worth considering:

1. It establishes greater brand presence

Even though .COM domains are still most prevalent, the reality is that many are already taken, forcing some businesses to use a domain that isn’t really suitable for their brand. For many, adopting an alternative TLD is necessary as it enables them to secure a stronger online brand presence. A branded domain name is, after all, stickier as it not only reinforces the business’s name but also tells site visitors from the start who the brand is.

2. It provides greater brand protection

If you chose a domain that is your company name or a domain that reflects your brand, you will be able to block others from using variations of that domain as they become available. If your business only works with individuals or companies in North America, it’s probably not a huge problem if a foreign entity owns a .ASIA variation of your domain. But you’ll likely run into problems – namely, consumer confusion – if a competitor also doing business in North America adopts a domain too similar to your own.

3. It improves brand ownership

Because domain names are trademarked, a brand has absolute control of who can access and use the their domain. Any unauthorised business who attempts to use their branded domain name without permission can have their website immediately shut down.

Develop a competitive edge

Of course your brand encompasses every aspect of your business, from the way you answer your phone to how you follow up with customers after a transaction. But your name is what will initially peak their interest. Acquiring a branded domain name is one way to ensure that your name resonates and stands out from the competition.

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