(Continued from previous post)
“Because generic domains are memorable, intuitive, referable, and credible, they have the opportunity to go BEYOND the traditional marketing channels into … word-of-mouth marketing.” – Alan Hack
- Word-of-mouth marketing results in 5x more sales than paid media impressions (more)
- Word-of-mouth marketing is the most effective form of marketing, according to 64% of marketing executives (more)
- 88% of consumers place the highest level of trust in personal recommendations from people they know (more)
- 28% of consumers say word of mouth is the most important factor in strengthening or eroding brand affinity (more)
- Generic domains outperform non-generics in advertising by 42% (view)
These statistics further underscore why companies are willing to pay millions for generic, descriptive domain names.
Alan Hack provides a perfect example of a generic, descriptive domain name:
Partial Transcript (abbreviated):
If you asked, “Hey I’m concerned about retirement, what are you doing?” I can just say to you, “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.
The odds of you remembering “Retirement.com” 30 minutes, an hour, maybe a day after our conversation, will 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 expertise and credibility with “Retirement.com” because the assumption is that these people must know a lot about retirement.
The ability for these domain names to go viral — to be heard in a conversation, remembered, and then navigated to — makes them INCREDIBLY powerful when it comes to turning that already existing mind share into market share.
That is why generic domain names are so valuable, because these words already live in the minds of millions if not billions of people.