Key component of any brand’s trustful online presence is domain name. It is the virtual storefront of the brand, customers expect it to be there all the time. If the homepage redirects to a domain parking page the brand can lose genuine customers. Thus, it is critical for organizations to keep a track of their brands expiry. If the domain expires due to non-renewal (non-payment), it can lead to serious complications. Somebody else can buy the domain within minutes and may not agree to sell it back to the brand owner. Even if they agree to sell it back, they may ask for an exorbitant amount making the domain acquisition a troublesome process.
Yatra.com recently faced a similar situation when their domain expired (on 9th august 2013). Their page was redirected to a domain parking page that said “the domain has expired”. Competitors tried to take advantage of that situation and came up with witty ads like “Book your Yatra tickets “. Domain expiry puts the domain owners in a bad place with their reputation being hampered in the marketplace and the competitors taking advantage of it.
Yatra.com was one of the biggest travel booking agents in 2013 with second largest market share after MakeMytrip.com, it averaged 6000 transactions per day. With the site down for a whole day, the company lost many bookings and subsequently a lot of money. This fiasco emphasizes the importance of domain renewal as it can disrupt the brands business as well as its standing in the market.