In a previous article, we discussed how domains are Internet real estate. In this article we will discuss how domains are also brand equity.
Brand equity is anything that builds and advances your company, service, and/or product brand awareness. And in today’s digital world, domains probably play the greatest role in brand awareness as a singular asset than any other. Why? Because domains are the foundation to brand recall, lead generation, and conversion rate.
A domain name has two parts to it, the left and right sides of the dot. Both sides are critical to maximize brand equity. Let’s start with the right side of the dot.
The Right Side of the Dot
This is the TLD, Top Level Domain, also referred to commonly as the extension. There are many extension options to choose from today. From the original 3 (com, net, and org), country-code extensions or ccTLD (such as us, ca, co.uk, com.au, etc.), to the hundreds of new generic extensions, or ngTLD, such as club, xyz, media, tech, live, and the list seems endless.
In terms of brand equity, dot com is by far the most recognized and memorable extension. No other extension even comes close. So in order to stay competitive and not lose traffic to dot com, a company should own their name or the name of their product or service in this most popular extension. Even if the plan is to build a website on a ccTLD or ngTLD, not owning the dot com version means that any brand marketing will make many people to checkout the dot com site.
Additionally, owning the dot com domain means that, in the minds of visitors, your business was there first (even if it wasn’t). This is because dot com is the first extension ever and is deeply embedded in the psyche of billions of people that use the Internet. Signs are that this will always be the case. Why? Because the world’s biggest brands (Apple, Microsoft, Facebook, Google, Walmart, Amazon, etc.) all use dot com as their first and primary domain extension, even if they use ccTLD for targeting different languages and international markets.January 9, 2020