Organizations await June 20th
Organizations are anxiously awaiting the go ahead from ICANN, scheduled for June 20th, that will allow organizations to register their brands as internet domains. But, what does that mean for domain names? The ordinary extensions like .com or .net will be replaced by brand endings such as .bank, .beer, or .hotel. Registrations will be conducted based on keywords that are connected to the product. A unique example is a city could register its own domain such as .NewYorkCity. This is the biggest change in the internet business in over 25 years and should spur a creative marketing approach for companies. The possibilities to uniquely define ones product and company will emerge endless possibilities for a companies identity online. The advertising industry will have a new media platform with a whole set of possibilities and strategies.
It is predicted to bring a whole new sense of brand trust and security to customers. A customer will be ensured they are at the right companies website.
However, there are some drawbacks to the new domain system. The cost for an application is $185,000, which makes it nearly impossible for small companies. The behavior for people who are used to typing .com will be hard to break. Will the phenomenon spread through the internet or will there be confusion? Although, ICANN predicts that the confusion will be overcome. The benefit from more organized search engines will lead to better brand identification. The safety of a companies brand will alleviate the concern for other companies to steal domain names. .NewYorkCity will never be lost to another city for example. The competitiveness for brands will be difficult, for example who should own .apple the company or the farmer who grows apples? Depending on the decision on June 20th the brand names could come out as soon as 60 days after. The top-level domain names could take years to be released however. A whole new market for the internet industry is on the horizon. To read further click here.