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So for example, my domain is www.companyname.com. But our company name doesn't make it obvious what we actually do. Is it worth making the root of the site something like www.companyname.com/ancient-antiques/ , with a 301 redirect from the domain root? I'm thinking not just for SEO purposes (would we need to change anything in Webmaster Tools for this btw), but so that people who see us on the SERP immediately know what we do from behind our undescriptive domain name.

+1  A: 

It will have little to no difference on your placement in search engines. The only thing that really matters is how your website is linked to. Google will know what your site is about, and external anchor text will gauge what keywords your site will qualify for. Outside of that, the keywords in your URI is irrelevent, so just build the best website you can and people will link to it.

Natural link building is the way to go.

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