Repairing & Leveraging Online Distribution Channels
VeriSign’s registry division, which managed the global DNS (domain name service) infrastructure for billions of .com and .net queries, wanted to grow by selling additional services through its “channel” of domain name registrars (online retailers).
Unfortunately, VeriSign had done little or no vetting of new products and services, either with the target market, nor with its channel partners. In fact these partners had highly negative attitudes toward VeriSign and showed little appetite for purchasing its’ products or services.
To address this situation, Bob London developed key initiatives to constructively engage with the registrars, gain their trust, elicit feedback and ultimately, leverage the relationships to build VeriSign’s business.
Key initiatives included:
- VeriSign’s first Global Registrar Summit, which was attended by more than 150 key representatives who shared feedback and ideas on how VeriSign could better serve them.
- VeriSign’s first Registrar Advisory Program, a rigorous process for presenting registrars with product concepts to help VeriSign prioritize new initiatives and development resources.
- VeriSign’s first Channel Marketing Program, including a breakthrough promotion designed to drive new growth in .com and .net registrations.
VeriSign’s credibility and positive ratings among registrars soared after these key initiatives were launched.
Additionally, VeriSign was able to get a more accurate read on market/channel opportunities; this in turn helped the company save $10M in operating expenses and $10M in CAPEX by cutting non-viable offerings.
The Channel Marketing Promotion increased new .com and .net registrations by 15%, reversing a 6-month downward trend. This promotion also resulted in generating over 30M impressions among VeriSign’s target audience by placing VeriSign’s marketing messages on registrar sites.