Domain name is more than just a technical shortcut. A short, memorable domain name can make the difference between creating a successful Web presence and getting lost in cyberspace. A domain name adds credibility to your small business. Having your own domain name makes your company look professional.
A domain name adds mobility to your Internet presence. Owning your own domain name lets you take that name with you if you transfer Web hosts or switch to your own in-house server. If you don’t own your domain name, you’ll have to take a new URL, which will destroy the branding that you built up with your first address. 
On a basic level, domain names are important because the Internet’s addressing scheme is not very effective without them. Each computer on the Internet has an Internet protocol (IP) address: a unique string of four numbers separated by periods, such as 165.166.0.2. Since remembering the IP addresses of all of your favorite Web sites would be nearly impossible, a group of computer scientists created the domain name system to assign a unique name to each numeric IP address.