Mind Share Equals Market Share

Alan Hack does a beautiful job explaining – in the most simple of terms – how a generic domain name directly affects market share. We have yet to find any other video or article that so superbly explains this powerful phenomenon:

Excerpts:

SINCE generic terms live in the minds of millions if not billions of people — because we think about them, we talk about them every day, whether it’s retirement, books, loans, cars, life insurance, etc. — these are things that we just know. And these topics – especially if they represent large categories – live in the minds of millions if not billions of people.

These words that make up these domain names have what we call MIND SHARE.

It just makes sense that if you are going to promote that domain name in marketing efforts, 1) people will more easily associate what that domain is with what products or services you are offering, and thus 2) it will require a lot less media impressions for them to make that association.

As a real-life example:

Back in 2011, Prudential Financial ran “Bring Your Challenges” video ads.

Let’s say you asked 100 people, “Do you know what retirement is?”  100 out of a 100, especially if they are adults, will say “Of course I know what retirement is.”

But what if you asked, “Do you know what “Bring Your Challenges” means?

They will probably have a wide variety of ideas or opinions about what it means – it could mean personal challenges, health challenges, and family challenges, your life challenges, business challenges, there’s so many things. Because there is NO association in that phrase, “Bring Your Challenges”, WITH the term or the theme or the industry of retirement.

Prudential finally purchased the domain name Retirement.com in 2016.

If you want to market your brand, your domain name, it will to take MANY more media impressions – the number of times a piece of content is viewed – and significantly MORE media dollars to associate “BringYourChallenges.com” with retirement than if you just used “Retirement.com“.

So it just makes sense that SINCE these domain names have mind share already, it will cost a lot LESS to turn that mind share into market share.

In addition, because generic domain names are memorable, intuitive, referable, and credible, they have the opportunity to go BEYOND the traditional marketing channels into viral marketing or word-of-mouth marketing.

If you asked me, “Hey I’m concerned about retirement, what are you doing?” I can just say to you, “Hey I just went to Retirement.com, it has great information, services, products. You should check it out.”

A couple of things will happen from that.  1) The odds of you remembering “Retirement.com” 30 minutes, an hour, maybe a day after our conversation, are going to be significantly higher than if I said, “Go to WhatsYourNumber.com”. You might not even remember that 5 minutes later.

And, you will probably associate, even if it’s unconsciously, expertise and credibility with the domain name “Retirement.com“.  These people are retirement.com, they must know a lot about retirement.

The ability for these domain names to go viral — to be heard in a conversation, remembered, and then navigating to — makes them INCREDIBLY powerful when it comes to turning that already existing mind share into market share.

That is why these domain names are so valuable, because these words already live in the minds of millions, and sometimes hundreds of millions, and sometimes billions of people.

Why Domain Names Matter

This, my friends, is the pièce de résistance.

For all that is written about why premium domain names are so valuable – in the hundreds if not thousands of articles on the web about this topic – what is often assumed but not emphasized nearly enough is that ultimately, premium domain names make you more money.

It’s just that simple.

Your domain name is, in effect, the storefront of your business. It needs to express who you are, what you do, and what products or services you offer. In so doing, more customers will come your way, which increases the likelihood that you will make more money.

Who doesn’t want to make more money?

And there’s more. Beyond making more money are many other indirect benefits that ultimately – brace yourself – make you more money.

For example – consciously or subconsciously, justified or not, people are inclined to view premium domain names as the authority in their respective industries.  More customers will buy from you, and funding and partnerships are more attainable, because premium domain names command instant trust and credibility. All of which (drum roll please!) makes you more money. Ka-ching!

Which would YOU be inclined to trust more – DoorBot.com or Ring.com?  What the heck is a door bot, you ask?  A robot that acts like a door?  A door that looks like a robot?  And therein lies the problem.

What else?  If your domain name is generic and descriptive, customers will already know what they will find on your website, which means you save on advertising and marketing dollars to explain your services.  And if you do not need to pay for marketing and ad campaigns, year after year after year, that means you are making more money.  Again, ka-ching!

Word-of-mouth referrals are more likely when people can remember your domain name, which means an increase in direct traffic to your website.  Organic traffic will be greater, which means you spend less money on PPC advertising.  And because your domain name matches what customers use in searches, you further benefit from SEO, increased page ranking, and quality traffic.   All of which makes you more money.

The list goes on and on.

Why a premium domain name makes sense

Premium domain name: Their value and why they cost so much

Why premium domain names are worth the investment

Lesser known benefits of owning a premium domain

One final point about how important it is to choose a really good domain name, and that is:

Your reputation matters.

What people think of your domain name matters. So if you choose a domain name that has no meaning, or it is a word that is spelled incorrectly or is intentionally missing letters, there will be people who will think that it is ridiculous, and that you must be ridiculous, too.

Let’s be clear. You do not want this.

Characteristics 域名的优势

English Version

它以 “.com”为后缀。 .com 后缀是世界上最受认可和信赖的域名后缀。大多数人认为所有的商务网站均以.com结尾并会首先对其进行确认。

你有即时的可信度。这个品牌能够立即给你可信度和国际的知名度。

它是易记的。能让人很容易记住你的品牌是非常重要的特色。如果人们不记得您的网站的域名,a)您将浪费您用于推广品牌的所有时间、金钱和资源,和 b)您最强大的营销工具 – 口碑营销 – 将变得毫无用处。

  • 它是短域名。一个简短的英文网域 (网域名称) 不但容易记,容易分享也减少了被拼错的机会。 它直接影响了企业的成功机会。
  • 它是单字域名。由一个单字组成的网域名称,本身就是项强有力的品牌资产。它既好记又好行销。
  • 它具有吸引力且易引起情感共鸣。人们更容易记住一个可以马上建立直接情感联系的词或短语。
  • 它是通用域名。通用域名因这些原因而富有价值。世界上每个通用域名都是独一无二的。
  • 它是描述性域名。描述性域名描述访问者将会看到的内容,例如,如果ORIENTED.COM关于旅游业,搜索行业, 或于亚洲有关的,那么与域名和网站内容毫无关联性的情况相比。准确想起该域名的可能性更高。

它让你马上产生共鸣。当你听到这个网站能够帮你 “get oriented to the Orient”,你会会心的一笑,太绝了,所以每一次遇到 oriented 的字,你自然会想到它。这个文字上的绝妙巧合,因为 望文生义,自然会把两者连在一块儿。

它用于日常对话。一个被大众熟知的词做为品牌是无价的,因为它是一种不断提醒。您不需要花费任何钱得到这个不断增强品牌推广。

它有多层意思。所有英文单字中,包涵这么多种意思的还真不多。这种特质极为罕见。

它本身就具有行销的能力。因为“oriented”有这么多种意思并且能被用于言语的不同部分, 所以独具强有力的行销功能。 例如 “进入状况!” (Get oriented!),“你进入状况了吗?” (Are you oriented?),“适应北京了” (Oriented in Beijing),“适应上海了” (Shanghai oriented),“面向家庭” (family oriented),等等。

它有文字印刷优势。如果公司英文名字很长,各式各样的广告 (印刷,网络,广告牌,电视广告,小册子上,名片,等等)和营销都会产生问题。每多一个字都会减少吸引力而显得不专业。

它拥有高投资回报率。在争取全球主导和品牌认知上,以下所有的优势都将为公司省下大笔的广告和行销费用 = 更高利润率。你有优势的竞争。

它拥有真正的商业潜能。ORIENTED.COM 域名适用于不同行业,其出现顺应和切合今天的市场。