A domain name is the virtual address of your business. Having a premium domain name can establish your brand instantly as they are memorable and easy to spell. This adds professional authenticity to your business and separates you from your competitors.
Premium domains give users a feeling of trust and authority. This trust is mostly because users generally knows that premium domains are expensive. This extra trust and authority can be valuable for your business and might bring more customers.
Potential customers will see your site earlier in the search results as relevant premium domain names tend to rank better in search engines. This may increase your traffic and revenue which is always beneficial for your company.