Domain Renewals are a critical part of the Domain Business. Apart from giving you the opportunity to increase your revenue, Renewals also help retain Customers, in turn giving you more opportunities to cross-sell and up-sell other TLDs and Products.
Over the years, we’ve learned from our Resellers that the prime challenge lies in getting a Customer to Renew a Domain for the first time. Once a Domain has been renewed the odds of it being Renewed again improve significantly.
In fact, this is a trend that holds true for all regions. For example, in data published by VeriSign, the first-time renewal rate for .COM and .NET Domains in Central America and Latin America (CALA) is an average 35 percentage points lower than previous Renewals, and China and India have differentials of 34 and 30 percentage points, respectively.
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To help you overcome this challenge, we’ve put together a few steps you can follow to improve your Renewal Percentage.
Identifying the reasons:
There could be many reasons for a Customer not renewing their Domain. Insufficient reminders, a Customers inability to renew the Domain, want of better prices etc. The first step you need to take to improve your Renewal Rates is understanding the reason your Customers haven’t or don’t Renew their Domains. Diagnosing the issue will give you the information you require before you can launch a program to correct it. You can obtain this information from your Customers through surveys or direct contact.
Targeting Non Hosted Domains First:
The average renewal rate for all Domains is 77%, while the renewal rate for names that do not resolve is 22 percentage points lower – a mere 55%! By targeting Customers that have Non Hosted Domains and providing them with special offers on Hosting, Website Builder and Web Design Services, you can improve the chances of those Domain names being renewed.
Free Services with every Domain:
With $127 worth of Services free with every Domain Name including up to 15 Email Accounts and Privacy Protect, Domain Names registered through you are a value proposition for your Customers. By highlighting these services on your website and in your promotional mailers you can drive this point home.
Renewal Promotions and Special Price Discounts:
By aggressively pushing the various Renewal Promos we run, you can incentivize your Customers to renew their Domains.
With the Grand Renewal Rush, you can currently offer some great discounts to your Customers on renewals and get payouts of up to $0.50 per renewal. To help you in your efforts to improve renewals we’ve prepared an HTML mailer which you can brand and send out to your Customers. Also, please feel free to use any of the resources we’ve put up on our resource center.
We would also love to know what you’re doing to improve your Renewal Percentage. Hope the steps we’ve mentioned above help and do get in touch with us if there’s anything we can help you with.
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