Profile Creation is a process of registering an account with an individual/business name on different websites including social media, Forums, Classified sites, Web 2.0, Video sites, and image sharing sites etc.
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Why it is important?

There are hundreds of high-authority websites having good traffic that offers profile creation to users along with a unique username (for e.g.: Twitter).

Being authoritive websites, these profiles gains higher visibility in major search engines like Google, Yahoo, Bing etc. It helps you dominate Google search results for your own/business name.

Also, it is important from the branding and leads point of view. Suppose, you own a business, “XYZ.com”. But, you have no presence on social network. In that case, your competitors can try to take advantage of this loop hole. They might can create profiles using your business name and drive leads. Also, a negative promotion from that profile can defame your brand name.

But unlike domain registration, there is no central administration service which controls the naming rights on all of these hundreds of social networks. If you already possess the trademark or legal right to a username but it’s taken, you’d have to contact each and every social networks’ owner, individually with a legal cease and desist or DMCA takedown notice to try and recover it.