By Thom Davies
As seen in
Key takeaways:
Objective: Our past research has revealed that founders think strong brand names and domains impact revenue in a wide range of ways, from customer recall to word-of-mouth recommendations. To explore this connection between name and revenue, we asked our audience of founders whether they think strong names and domains impact marketing spend, and, if so, how much more weakly-named brands must spend to compensate. This data should help entrepreneurs calculate further the potential return on investment of a strong domain, as it leads to greater revenues and more impactful marketing spend.
Question one: Do you believe a strong brand name/domain makes your marketing spend go further (i.e., a memorable name means more people recall and find you after seeing an ad)?
Question two: Roughly how much more could a brand have to spend on marketing to compensate for a weak brand name/domain?
Founders and C-Suite leaders (e.g., CEO, CFO, COO)
Do you believe a strong brand name/domain makes your marketing spend go further?
Roughly how much more could a brand have to spend on marketing to compensate for a weak brand name/domain?
A large majority of founders agree that strong names and domains feed back into marketing return on investment as a memorable name and a powerful first impression lead to easier recall and reinforced brand characteristics. This performance can be a leg up on weaker-named competition, and brands with less strong names and domains must compensate by boosting marketing budgets to achieve the same results.
The impact can be significant: with average marketing budgets sitting at between 8 and 15% of revenue, brands with weaker names may spend tens of thousands of dollars extra each year on marketing to see similar, or worse, performance.
If you’re interested in digging deeper into our findings, or asking your own questions on domain choice and branding topics, contact thom@atomradar.com to learn more.
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Thom Davies is a researcher at AtomRadar and content strategist for Atom.com. His background in quantitative and qualitative analysis is the foundation for data-led brand strategy.
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