Is a Value Proposition Part of Your Marketing Strategy? To the Consumer, Premium Domains Say It All
Premium domain names are not exclusively valuable as online, digital assets for SEO. They increase shelf wins and brand expansion, even for Consumer Packaged Goods in the retail space. In addition, premium domains can also resonate with consumers on shared values.
As HBR aptly states, “Shared values build relationships.” It’s not what you sell, it’s what you stand for. These shared values, beliefs that both the brand and consumer embrace, unite a consumer with a brand’s higher purpose or broad philosophy. A brand can resonate with a consumer to such a degree that brand relevance achieves its pinnacle, making competitors irrelevant. Plus, purpose “almost always results in making more money than you ever thought possible,” Roy Spence writes in his bestseller, It’s Not What You Sell, It’s What You Stand For. 1. Look at how Pedigree Dog Food’s shared value is a belief that every dog deserves a loving home: built on premium domain name DogsRule.com. 2. Johnson & Johnson’s purpose is to alleviate pain & suffering. As part of this strategy, they acquired premium domain BabyCenter.com for parents concerned about their baby’s pain or suffering.
No products are sold; it doesn’t increase their SEO; it serves their strategy and builds relationships in moments of consumer suffering. 3. In another example, can you guess what combines kids’ toys, cutting workplace innovation methodology, and a quote from Plato? It’s Lego’s SeriousPlay.com domain name. Lego, one of the CSR RepTrack’s Top 10 companies for 2014, has been telling children for decades to “build their dreams.” Focus on this belief led them to create a business methodology that teach adults how to use Legos as a tool to unlock innovation. Is SeriousPlay.com essential to their business? No, but it proves their belief in Lego’s purpose of unlocking imagination to build dreams.
Purpose is the difference you make, your company’s strategic structure. This purpose serves creating a demand for your company. Does your strategy include a premium domain name?
1. A Reason to Believe: Advertising a premium domain (online or in the retail channel) can be a way of proving your brand “represents a greater, more valuable idea, the ‘reason to believe’ in your product.” (concepts recommended by Branding Strategy Insider)
Example: Harley Davidson owns and operates premium 3 letter domain name Hog.com. For them, it’s all about lifestyle.
2. Put your Money where your Mouth is: Premium domains provide credibility. They make a statement about the brand’s level of investment, level of commitment in this shared value. Example: Coca-Cola, all about being hip and cheerful, just launched an array of happy emoji domains at .ws instead of .com, referencing their “we smile” purpose.
3. Grow Brand Recognition: They can draw in consumers who are initially more committed to the value than the brand. Example: This is where Dakota Beef really stepped up its game by acquiring GrassFedBeef.com. The premium domain is incorporated onto retail packaging, standing out among competitors. The website itself just offers recipes, showing its consumers that its brand supports their lifestyle.
4. Tell Your Story, Make Your Difference: Make your premium domain your brand storytelling platform, like Patagonia’s VoteTheEnvironment.org does. How did Patagonia gain its undisputed leadership as top brand driving environmental responsibility? The domain name acquisition is an integral piece of that story.
Look at your brand’s story, and be a visionary in creating or building it. Incorporate premium domains into your strategy. Premium domains build relationships and grow consumer loyalty, customer retention, marketshare, and brand value.