New Brand Registries: Leaders and Followers
As of September 2015, 517 brands have signed ICANN agreements to operate proprietary Brand Registries. That’s an increase of 180 signings compared to June, when 337 had signed their agreements.
If you are a reader of this blog you will know that we are great proponents of the Brand Registry for both defensive and innovation potential. The Brand Registry is a digital platform that is authentic, secure and trusted with new capabilities. As the Internet continues its explosive growth of content, it is increasingly complex. Brand Registries are proprietary spaces that are new, better and different than anything that has existed before. They are a platform for brand innovation.
Digital executives looking at Brand Registries may ask, “If the Brand Registry is such a great new platform, then why have organizations not deployed use cases and/or brand registry enabled services?”Here are 8 reasons that tell the tale.
- Many digital executives tuned it out. It has been coming for years. Other quarterly priorities have ruled.
- Internal executives and teams lack an understanding of its disruptive potential. It is not possible to be an internal Champion of an initiative that is not understood. Rather than admit lack of knowledge, they and advisors dismiss.
- To date, legal has been in charge. Legal should not be expected to educate the C-Suite on digital innovation.
- Big organizations move slowly and by committee. Status quo is comfortable and easy.
- Change is hard. Change is risky. Change is feared.
- Domain sentiment in general is negative, since domains are notoriously a pain to manage.
- It is safer to be a follower. It is easy to say “No” to something new. Hard to say “Yes” to uncertainty.
- ICANN process and rules are difficult to understand.
While the above reasons are true for Followers, the premise of the question is wrong. The fact is, there are digital leaders testing the waters. In some cases, making a full commitment to revolutionize how they market to, engage with and service customers on their Brand Registry. These Leaders are building their .BrandIQ and building a competitive advantage. To educate yourself and understand .BrandIQ, feel free to download our eBook. CLICK HERE FOR THE EBOOK.
Leadership companies like BARCLAYS, BNPPARIBAS, SKY, BLOOMBERG, AXA and many others are running test and learn initiatives. Several thousand Brand Registry properties are live today. In May 2015, Barclays Chief Information and Security Officer went so far as to send out a .Barclays Press Release stating security and brand messaging as the drivers for their planned transition to the BRAND REGISTRY. So, it is wrong to say brands have not deployed. It is correct to say they are slow and many obstacles exist. It is also correct to say those currently testing initiatives are leaders and will have an experience and intelligence competitive advantage.
Over the next months, we will see more market LEADERS emerge, deploying use cases that separate themselves from their competition. In our ever changing digital landscape, leaders particularly and fast followers secondly will be the winners. Those that sit and do nothing will, well do nothing and fall behind. Don’t be that brand.
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