Decline in domain registrations 

During the past recession, there was a decline in domain registrations as businesses faced financial constraints and reduced their spending on non-essential items, including domain names. This led to a slowdown in the growth of the domain industry [1] however, businesses that significantly cut services during the recession faced challenges in rebuilding customer trust and recovering market share after the economy improved. In-fact the significant investment and resources required to rebuild service levels post-recession led to further issues that competitors who maintained service levels did not have [2].

Increase in domain portfolio pruning

To mitigate costs, numerous domain owners opted to trim their portfolios during the recession. They let go of low-value or non-profitable domain names, believing it would alleviate financial pressure. However, this approach proved short-sighted and consequently, businesses limited their ability to expand, explore new markets, and protect their intellectual property online [3].

Rise in domain name disputes

As businesses faced financial difficulties, the number of domain name disputes and cybersquatting cases increased. Companies sought to protect their brands and trademarks aggressively, leading to an upsurge in costs and legal battles over domain names [4]. This illustrates the importance of being proactive in your online brand enforcement, investing in the protection of your intellectual property as early as possible.  

Negative impact on brand reputation

Reducing services during a recession can inadvertently tarnish a business's brand reputation. Customers may interpret these cutbacks as signs of financial instability or an inability to meet their needs. Such negative perceptions can be hard to shake off, damaging trust and long-term customer loyalty [5] Preserving a robust online presence, even in challenging times, helps protect your brand reputation and instils confidence in your target audience. 

Next Steps

As we stand on the precipice of the next great recession, it is vital for businesses to learn from the mistakes of the past. The 2008 Recession taught us valuable lessons about the dangers of reducing services during challenging times.  By recognising the long-term consequences of such actions and partnering with a reliable domain registrar committed to client success, you too can weather the storm, safeguard your brand reputation, and emerge stronger in the post-recession landscape.

At Lexsynergy, we understand the challenges brands are facing, and can be the compass to navigate you through the darkest of clouds. If you manage domains for your business and need guidance through economic uncertainty, then please get in contact for a cost comparison quote to measure up the potential savings.

[email protected] / +44 20 313 70459 

Sources:

DN Journal - 2009 Year-to-Date Top 100 Sales Chart

Sage- How to prepare your business for a recession

Sedo - Global Domain Market Study 2009

World Intellectual Property Organization - WIPO Domain Name Dispute Resolution Statistics

Forbes - How To Preserve Your Brand During A Recession

The Pitfalls of Cutting Corners 

We have all heard the phrase "cutting corners," but in the realm of domain management and brand protection, it can lead to serious consequences. Let us explore some practical examples to understand the risks associated with cutting corners: 

Inadequate Security Measures

By neglecting proper security measures, such as SSL certificates, Anycast DNS or robust firewall configurations, brands leave their domains vulnerable to cyber criminals. A security breach on mission critical domains can inflict financial losses, compromised customer data, and a damaged reputation. Cutting corners on domain security is simply not worth the risk. 

Poor Domain Portfolio Management  

Optimising a domain portfolio is crucial for maintaining a strong online presence. Neglecting to register, renew, or monitor domains regularly can result in losing valuable assets to domain squatters or competitors. Cutting corners in domain management can harm a brand's visibility, impact SEO efforts, and ultimately lead to missed opportunities and decreased revenue. 

Ineffective Monitoring and Enforcement

Proactive monitoring and enforcement of iIntellectual pProperty online is crucial for protecting brands against unauthorised use and infringement. Cutting corners in this area can lead to missed instances of trademark infringement, counterfeit sales and unauthorised use of Intellectual Property. Failing to enforce rights quickly and diligently can dilute a brand's value, confuse consumers, and result in lost revenue.  

The Solution: Cutting Costs, Not Corners

At Lexsynergy, we recognise the need for businesses to adapt to the cost-of-living crisis without sacrificing the integrity of their online presence. Here's how we help brands cut costs without compromising on the quality of their domain portfolio: 

All-Inclusive Pricing

We are strong believers in transparency, in both our communications and our pricing and that ’is why brands are comfortable with Lexsynergy, there are no surprise charges. We have no additional management fees or commission, no additional costs for support, the quoted price for any of our services will be the final cost, no sneaky last-minute add-ons, making our fees the most competitive in the corporate domain space.  . This allows our client to effectively manage their budget and allocate spend to other areas of the business. Brands switching to Lexsynergy can expect an immediate cost saving from the removal of these fees which many legacy domain providers still charge.

Cost-Effective SSL Certificates

Ensuring secure communication between a website and its visitors is non-negotiable. However, SSL certificates can often come with a hefty price tag. At Lexsynergy, we offer affordable SSL certificate options that go beyond industry standards and provide the encryption a website needs. Do not compromise on security – choose a cost-effective solution. 

Intelligent Brand Protection

Protecting brands from trade mark infringement, domain hijacking, and counterfeit goods is essential in today's digital landscape. That is why we offer bundle pricing for our comprehensive brand protection services, benefiting the brands who are proactive in their online protection. We help businesses enforce Intellectual Property rights online effectively and efficiently, helping recover otherwise lost revenue.  

Next Steps

At Lexsynergy, we understand the challenges brands are facing, and we are here to help them cut costs intelligently, without sacrificing the quality of their service.  

If you manage the domains for your business and want to improve your bottom line, then please get in contact to discuss how we can optimise your domain management and protect your brand efficiently.  Remember, it is all about cutting costs, not corners. 

[email protected] / +44 20 313 70459

What key protocols can brands implement to protect their brand? 

• When considering various possibilities for a new brand, conduct a basic domain name search first and if available secure key extensions e.g. .com for those variations.
• Maintain an online artwork library for your brand. Keep it updated as iterations change. This can be invaluable for a service provider such as Lexsynergy when attempting online enforcement.
• I can not emphasise enough the benefits of a centralised domain portfolio with a single provider from an enforcement perspective.
• Come up with a domain policy document. For example, are commercial partners/affiliates allowed to register your brand in domain names? This may need to be addressed in contracts.
• Do seek to register your brand as a trade mark in key jurisdictions (not just where you intend to trade but also in key infringement territories.) Do register the brand as both a word mark and also as a figurative logo mark (if appropriate).

How important is it to trade mark your ideas?
It is a common misconception that you can trade mark an idea. A trade mark is essentially a badge of origin i.e. a way of identifying that your goods and services come from you as opposed to another party. It is crucial to seek some form of registered trade mark protection. If a brand owner does not, then it can become extremely expensive and time consuming to tackle an infringement without some form of registered protection.

What advice would you give to new people in the brand protection industry?

• Read a lot. The online world is ever changing!
• Focus on level of detail. An unfettered curiosity to solve problems is invaluable.
• Be prepared to work long hours!

What case have you enjoyed working on the most?
Working ultimately on behalf of a well-known Premier League footballer to recover a domain name. It was a high-profile case from a few years ago and it combined my love of sport with my interest in Intellectual Property.

What is your craziest story that has happened to you whilst working within Lexsynergy?
Usually, we work on behalf of brand owners to recover conflicting domain names. There was one case, where the brand protection team on behalf of the other side, i.e. on behalf of an individual to help defend them against a multi-national brand owner. I am pleased to say that the matter was settled.

What is your favourite tld and why?
.com remains king in my view!
For example, if you do not own the .com domain, what does that say about your brand? Brand owners still spend a fortune conducting trade mark clearance searches for their brand, but forget to conduct corresponding domain availability checks which could be “show stoppers”!

What are the 5 things you can’t live without?

1. Family/partner
2. Ballroom dancing
3. Cricket
4. Phone
5. Good health!!!!

What’s your favourite brand protection joke?
If a brand owner attempts to enforce their brand online without having sought to seek registered trade mark protection for their brand! It is not impossible, but makes it extremely difficult and potentially costly!

That's it for today's interview, if you'd like to know more about Robert or want to get in contact with him directly, then please connect with him via LinkedIn.