Learn How to Unleash the Power of Domain Data via a Whitepaper from DomainsBot and Open-i Advisors

In our work promoting our Name Suggestion and the Pandalytics service, we often come across Registry Operators, Registrars and Webhosters that say they want to be more data-driven to optimize their business.

However, the next thing we hear is that beyond a general wish to use data more effectively, many still don’t really know what to do, or how to get started.

A common misconception is that you need a big team of data analysts and a large budget to do Business Intelligence, which is why the wish to be more data-driven ends up remaining just a wish, buried among many other tasks that seem more urgent and important (and that paradoxically could be massively improved by better leveraging data).

The reality is that the key to be successful with BI, is not how big your budget is, but rather to know what questions to ask, and to have a clear idea of how to use that information for a specific goal.

To prove this point, we teamed up with our friends at Open-i Advisors, to share our best tips and highlight a few simple things anyone can do to use domain data more effectively.

The result is a whitepaper that you can download from here right now. We have tried to keep it simple and accessible, suggesting a few “low hanging fruit” steps that we believe would give positive results quickly, and be the starting point for a broader adoption of BI and stronger, data-driven growth.

2018: a great year to sell more domains!

Every domain and hosting provider knows one thing: it all starts with a domain name.

We tell our customers over and over again that a good domain name is a great way for any business to present itself.

The importance of domain names is also reflected in the vital role they play in your sales flow, as every customer journey begins with a domain search.

For many customers, however, searching for the right domain is often a dreadful experience, particularly if their original choice is already taken by someone else.

This is actually a very common occurrence: when we took a closer look at the over 1 billion domain searches that pass through our system each year, we discovered that there is a 57% chance that the string your customer is searching for is not available in .com.

Even if domains are not your main product, neglecting to optimize your domain search is bound to turn many of your potential customers away, causing a loss of earnings that goes well beyond the margin you would have made on the domain sale itself.

Over the years, DomainsBot has helped many of the world’s most successful Registrars drive more domain sales. As a new year full of opportunities begins, we decided to share a few tips on how to optimize your domain sales flow and turn this 2018 into the best year ever.

1. There is such a thing as “too much choice”

The advent of hundreds of new TLDs over the past few years has certainly broadened the pool of great options available, easing the pressure on customers to find “a good .com” at all costs.

All this TLD bonanza seems to have shifted that “performance anxiety” over to the Registrars though. Caught between an exploding catalog of options, Registry Operators bidding over each other for shelf space and some good old “fear of missing out”, for many Registrars the easy solution was to let the size of their search result pages swell significantly.

Some have put their faith in bottomless lists with infinite scroll, others have  taken a more scientific approach and ended up in “category tabs” hell.

Predictably, usability (and the customer who “just wanted to get online”) is often left holding the short straw.

Looking at our Partner network, we were not that surprised to notice that those Registrars that have kept their head cool and their results pages clean and simple and only show a limited set of results tend to have much better conversion rates (and probably happier customers).

2. There is no “one size fits all”

The way the domain and hosting sales flow is built today puts us all in a tricky position. Domain search is typically the first meaningful interaction a Registrar has with a prospective customer, which means that at this point we still know very little about the user and his/her intentions. Yet, it is also the moment where we are expected to shine, delivering the perfect results and displaying the domains and extensions that are the best match to the user’s query (and that are most likely to sell).

For a single domain provider, building and maintaining a system that can handle this task efficiently is a daunting – and expensive – task. DomainsBot, on the other end, has spent over 10 years focusing all its efforts into building a system dedicated specifically to analyzing each query, mixing a varied source of data, advanced statistics and semantics to return in just a few milliseconds a list of relevant results and suggestions. When our Partner passes on to us the first part of the customer’s IP address, we are even able to include results that take the user’s geolocation into consideration. This enables us for instance to show a .london suggestion to a search originating from the London area, or a .ca to a Canadian customer.

The secret to keeping your results page short and clean is clearly not to pick one single set list of TLDs to show to all your users and axe everything else. Leaving the task to come up with the list that makes sense for each specific customer to our Semantic Engine takes away all the need to deal with the complexity of the modern domain market, so you can focus your energies on providing better service to your customers.

3. Analyze & optimize

Many Registrars spend significant amounts of money on SEO, SEM, Social Media and all sorts of marketing campaigns to drive traffic to their homepage. Sadly, many then fail to track how many of these hard-won leads convert into a paying customer, and most importantly what causes some of them to drop off during the process.

Getting detailed analytics on your sales flow can be a complicated affair, particularly if your store runs on an off-the-shelf solution.

Partners that pipe their domain searches through the DomainsBot Name Suggestion can add to the increased sales also the advantage of getting access to a Dashboard providing several useful pointers to better understand their market.

The average conversion rate per thousand queries is, for instance, a good indicator of how effective a sales funnel is. The weighted performance of each individual TLD provides useful data to fully evaluate the effect of a marketing campaign. Furthermore, our Partners can get a more accurate picture of what their competitive landscape really looks like based on the number of domains that were first searched on their site and then later registered somewhere else.

In conclusion…

Just like with everything else, there are no quick fixes that can replace hard work and some good old-fashioned “trials & errors”.

Registrars and Hosters that are willing to take a holistic approach to understanding and improving their sales flow are likely to fare better than those that plan to simply keep doing what they have always done.

If you are one of those looking to provide a better service to your customers, sell more domains and grow your business in 2018, DomainsBot Name Suggestion can be the smartest investment you will do this year.

Supercharging the DomainsBot Name Suggestion with Analytics

Every customer journey starts with a domain search. That’s why it is crucial for every domain and hosting provider to make sure their customers find a great domain quickly and easily. DomainsBot Name Suggestion with Analytics will help you make sure they do.

Our new and improved Name Suggestion service now supports 11 different languages and provides relevant results across all available gTLDs, nTLDs and ccTLDs. And because we provide accurate tracking and conversion statistics to all our Partners, we are also the only ones that can safely claim that our suggestions sell. Many of our Partners have seen their registrations grow by an average of 15%, with some of the best performers often reaching 25%.

The feedback we have received so far has been extremely positive. Many domain providers are starting to look for the best ways to take advantage of the wealth of data at their disposal to better serve their customers and drive growth, and we are convinced that our Dashboard represents the fastest and easiest way for Registries, Registrars and Hosting Providers of all sizes to start exploiting the power of analytics to grow their business.

Domainsbot: helping Domain and Hosting companies live up to their full potential with predictive analytics

More broadly, we are excited to see how the domain industry is also finally warming up to the strategic value of Business Intelligence and Predictive Analytics.

As the requirements and goals of our Partners evolve, our advanced analytics service Pandalytics is extremely well positioned to expand the reach of the Name Suggestion Dashboard and help them gain even more detailed insights on the domain market and stay ahead of their competitors.

open-i advisors logoIn this context, we are also extremely happy and proud to have been chosen as strategic partner by Open-i Advisors.

With their expertise, the data and tools provided by DomainsBot can become an even more effective instrument for Domain Professionals eager to better understand their market and drive more and better sales.

DomainsBot Name Suggestion with Analytics

Interested in becoming our partner? Please contact us to schedule a call.