Data is the lifeblood of any business today. It empowers businesses to make informed decisions that drive growth, profitability, and accountability.
Here are a few examples of how a TLD registry can leverage the power of data insights:
- Increase domain name renewals:
- Identify customer churn risk factors and develop strategies to reduce churn. For example, Registries can use data to identify end users who do not have a website attached to their domain name, which usually have a higher probability of not renewing. Registries can empower their channel partners with these data insights to mitigate churn risks.
- Empower your channel partners to execute on data insights. Through guided data driven strategies, it can deepen the engagement you have with channel partners as well. The data can help close revenue gaps for the channel partner, making you a sought after partner.
- Become increasingly strategic in how you engage with your channel. With the ability to segment the channel accordingly, tailor growth programs for the different groups of channel partners. For example, exploring suggested bundled solutions that complement the use of your TLD.
- Gain Market Insights/Trends/Opportunities:
- Grow market share by extracting data insights on customer needs in local markets, where localized marketing strategies can help drive growth and renewals at the same time. The Registry can share these trend insights with the channel to develop new products and features that meet their needs.
- Target marketing campaigns to the right customers, measure the effectiveness of marketing campaigns and optimize the customer journey. Data can help understand customer behavior and predict future needs. By using this information to your advantage, you can develop targeted and effective marketing campaigns.
- Identify customer segments that are most likely to churn or purchase additional products and services. Registries can empower their channel partners to target the customer segments with relevant marketing campaigns and offers.
- Explore channel development opportunities and expand the reach of your TLD. This can be accomplished by vertical, geography and more. There are increased efficiencies with a data driven targeted approach, as well as improved conversions with a longer-term growth.
It is imperative to create a data-driven internal culture, data should be ingrained in your registry’s DNA. Everyone in your registry organization should be empowered and educated to understand the importance of data, how it can be used to drive growth, create positive change, and how to open their curiosity to dive into data.
If you would like to discuss how Domainsbot can further help empower you and your registry team, please let us know. Submit this form or email us at ciao@domainsbot.com.
