A personalized domain name can be a powerful asset for customers seeking to establish and build a robust online presence. As such, online platforms and SaaS providers are uniquely positioned to leverage domain name services to bolster their core offerings.
Product Strategies That Domain Reselling Supports
Domain reselling can strengthen several facets of your product strategy, from differentiating your product from competitors to enhancing the quality of your core services.
Notably, many customers need a domain name and would benefit from curated domain name offerings within a platform they already use. By taking the initiative to build custom domain services into your platform, you can achieve several key product strategy goals:
- Enhanced customer experience
- Expanded reach
- Industry authority
Just hear what Kaitlin Macholz, Beacons Product Marketing Lead, says: “We can position ourselves as a one-stop shop for our target market because we now can offer everything they need. That sets us apart from other providers in our industry.”
Keep reading to dive deeper into the details of each below.
Enhanced Customer Experience
The best digital platforms or digital services providers are those that offer customers a frictionless, all-in-one experience. Today, the modern customer expects the services they use to be designed with their needs in mind—and they aren’t afraid to switch providers when they’re not getting a comprehensive experience.1
To that end, providing domain services is a simple way to build a consumer-centric product strategy that:
- Keeps up with consumer expectations and market demand
- Drives customer satisfaction
- Boosts retention rates
By becoming a domain reseller, online platforms can cultivate a seamless experience for customers seeking unique domain names to establish and strengthen their digital identities. And the good news is that implementing domain reselling services is easier than you think.
Domain sales are also a vehicle product strategists can use to tap into new niches. With hundreds of subject-specific extensions available to customize domain names after the dot—and a limitless number of ways to customize the name before the dot—it’s easier than ever to target specific groups with curated domain name offerings.
For example, a photo hosting platform might start by catering to a general customer base with descriptive domain extensions like:
Its product strategists could then further hone in on specific communities of photographers by providing strategic lists of top-level domains (TLDs). Extensions such as .football or .team could connect with the passionate sports photography community while .kitchen or .recipes TLDs could entice food photographers.
By integrating domain services into your platform, you can demonstrate a high-level understanding of what services your customers need to establish online. This demonstrates an innovative, agile mindset regarding your product offerings, helping to craft a reputation as a forward-thinking, trend-setting player in the market. Platforms that become early adopters of a domain reselling strategy can instantly position themselves as authorities in their sector, establishing credibility with customers and potential collaborators.
Playing this integral part allows you to become a relevant domain provider name while legitimizing your core offerings.
How to Leverage Domain Reselling to Drive Revenue
When incorporating domain reselling into an existing platform, taking a strategic approach can maximize its impact. By offering the proper domain to customers and directly communicating their value, you can effectively use domain services to bring in consistent, recurring revenue.
Explore these essential techniques to make domain reselling a productive element of your product strategy:
Step 1: Optimize Domain Portfolios
Once you integrate domain reselling into your platform’s infrastructure, providing customers with a domain portfolio that aligns with your business needs is critical. It's essential to offer a variety of domain extensions that match your audience's interests. Provide high-value extensions and generic ones like .bio, .social, .world, .info, and .fyi. This approach ensures you cater to your customer's diverse needs, as many legacy extensions might be unavailable. By providing a wide selection, you can make it easy for your users to find the right domain name for their requirements.
Step 2: Implement Customer-Centric Strategies
Pay attention to how your customers use domain name services to tailor your offerings to their interests further. By researching the search behavior of your current customers and your target audiences, you can build a highly curated list of domain offerings and create a better customer experience.
This curation could include:
- Promoting domains in specific industries
- Showcasing localized domains for specific geographic markets to connect with your customers on a local level
Based on this research, highlight personalized domain names for your target customer segments to increase engagement with those groups.
Step 3: Use Domains to Incentivize Upgrades & Customer Retention
Bundling domain names into your platform’s paid plans is a strategic way to enhance your premium offerings and convert free customers into paying ones. Customers may explore a premium plan to secure a domain name, then decide to keep using the paid plan to retain their domain name as a core part of their branding.
The added perk of securing a unique domain name can also provide more value to your existing premium customers, encouraging them to continue using your paid features.
Discover Strategic Domain Tools With Identity Digital
Domain names are frontline tools brands and entrepreneurs can use to connect with customers and establish online credibility. Making those domain names available to your platform’s customers through reselling is an innovative way to link your brand to each customer’s digital identity.
By leveraging domain reselling, product strategists can harness the power of enhanced branding, improve their customer experiences, and diversify revenue streams to create a holistic product strategy that supports revenue generation.
Contact Identity Digital today to explore how you can optimize your product strategy to drive revenue through domain reselling.
1 Harvard Business Review. Why Customers Leave Platforms — and How to Retain Them. https://hbr.org/2023/08/why-customers-leave-platforms-and-how-to-retain-them