New TLDs offer brands the ability to innovate their online presence to build better relationships with current customers and attract new ones. Brands seek the following growth objectives.
Acquire customers organically through effective marketing and sales channels
- Increase loyalty, retention and customer referrals
- Increase average order value
- Define brand identity and drive awareness
- Imperative for Action and Risk of Inaction
Brands that effectively launch a closed registry will control their future web space. This is transformational stuff on how we will use and value web addresses and networks. Innovators will create online environments exclusive to their brand. They will capture a larger share of market in competitive search and reference. The fantastic news is that by owning the registry and nurturing a presence, brands will, over time, be largely released from the damaging menace of cyber squatters who divert market attention through bad faith practices. Innovative brands will seize the opportunity and make the registry addresses authoritative destinations and engines of growth. Brands who do not move, risk becoming less relevant as the approximate 1,200 new TLDs come to market. They risk losing competitive position and they will miss the opportunity to be a category leader. It is a whole new web space. Those who do not occupy and innovate will be left behind. “HELLO …. BRANDS – DO YOU SEE IT?” If not, you are in trouble.
Developing and Executing a Plan
How do you bring a TLD registry to market? The process is simple enough but it means articulating a winning vision and strategy, while defining and executing requires significant expertise and diligence.
- Create a new gTLD vision aligned with core business objectives.
- Research and iterate with teams the market factors that influence strategy.
- Articulate an aligned executable strategy.
- Create the execution plan, and
- Execute GoToMarket: Measure, Analyze and Adjust.
Here are just THREE strategic approaches for brand-based registries to consider.
- Marketing Promotion
Limit it marketing and communication destinations for specific programs that can be deployed quickly with address bar context such as; ‘promotion.brand’, ‘rewards.brand’, ‘csr.brand’, ‘event.brand’ … etc. The brand is able to publish clear and authentic destinations for promotional purposes with focused messaging and services that match the web address.
Why is this valuable? Authentic, Trust, Focused, Easy to Communicate and Memorable, High Converting, Spoof Proof…
- Customer Identity and Engagement
Offer selected customer profiles their own web addresses such as; ‘johndoe.brand”, where customers can engage with the brands through various means both public and password protected. You should include functions such as multimedia blogging, product and service support, enhanced knowledge based value adds, secure access to loyalty programs and benefits, participation in product focus groups, sharing of insights, stories, testimonials, etc.
Why is it valuable? One-one relationships, loyalty, referrals, community, user generated content, SEO and authenticity.
- Product Centered
Deploy product destinations such as; ‘widget.brand’ designed to enhance the value proposition. Product destinations deliver opportunities to improve online presence with SEO performance through multimedia blogging, product details and support, feedback, sharing of insights and WOW as well as sales conversion capabilities, etc.
Why is it valuable? Focused messaging & service specific to product, SEO, customer satisfaction and conversions.
Layer SOCIAL and MOBILE capabilities and experiences. Have brand, must travel with customers, wherever they are, whenever they are thinking of or using your product, needing help or communicating about your brand’s WOW through social networks. Create an environment for your customers to maximize the value they gain from your product and relationship, then motivate their actions to help you reach new markets and improve your position.
What is your view? How will innovative brands make the gTLD investment drive returns?
Thanks for checking in…Peter