If your business used to have a different name, it can be a good idea to have domains for both the old name and the new one to get customers to the right homepage. The same goes for if you want to change the name of your brand. Buy a new domain and — once the new website is built and ready — redirect the old domain to the new one.
Depending on what goods and/or services your business provides, it might be a good idea to register an additional domain name that appropriately describes what vertical your business is in — think JoeShmoeCupcakes.com versus simply JoeShmoe.com.
And remember: people might not always refer to your brand by the official name. Here’s a real-world example. Coca-Cola is an official company name and the brand’s official website is Coca-Cola.com. But many people all over the world commonly refer to the soda giant as “Coke.” That’s why if you type Coke.com in your browser’s search bar, it redirects appropriately.
Using specifically descriptive domain names makes it easier for your customers to find you.