Greater authority, market credibility and trust. An industry specific generic domain can demonstrate all these attributes, because leading businesses in a particular field tend to own the relevant generic domain.
Easy to remember. If your domain reflects the product or service a user was interested in, they'll find it much easier to remember. This is particularly true if the domain is an exact match to the searched keyphrase, with no additional words.
Additional traffic. Users will sometimes type a generic domain straight into their browser address bar rather than use a search engine. This is known as type-in traffic and is particularly significant for .com domains, but is also relevant for other domain extensions.
Helps with Search Engine Optimisation. The words contained in a domain are taken into account by the major search engines. Hence if your domain name is an exact match for a highly searched keyphrase, this will be taken into account by the ranking algorithms of the search engines and will help to place your website higher in the search engine results.
Save on Online Marketing Costs. As your generic domain is helping with search engine optimisation, you can spend less on costly online promotion techniques such as Pay Per Click advertising.
Ongoing competitive advantage. All the above factors mentioned so far add up to an ongoing competitive advantage for your business. If you use your generic domain to build an information rich website for your industry, it can help your business to become a "go to" resource and increase your market share. Equally, your competitors will suffer simply because they don't have such a good domain name.
Excellent Long Term Investment. So far, generic domain names have proved to be excellent investments which increase in value as market awareness and the importance of the internet increase. A generic domain is a business asset and can often be sold on for a healthy profit. A database of previous UK domain name sales is available at DomainPrices.co.uk.
Rare Opportunities to Buy. Opportunities to buy a generic domain directly related to a particular industry are rare. Once a generic domain is owned by a specialist business operating in the sector, it is unlikely to become available again. This in turn contributes to the value of the domain.
Want to learn more? Try these resources:
Open a Google AdWords account so that you can use their keyword tools. This will show you ad spend on a given keyword and give you an indication of value for the related domain.