Over the past month and a half I have witnessed many interesting and inspirational business evolutions as a result of the widespread stay at home orders which have caused economic gridlock for so many industries. In just weeks and in many cases only days, entrepreneurs and business owners have quickly pivoted from doing business as usual to adapting to distancing or gone completely remote with their services or products. Other entrepreneurs are launching something totally different that does not require a brick and mortar presence at all.
Commerce and how we buy or think about buying has quickly accelerated to an online order and pickup or delivery model. I am now also seeing more and more services and courses being offered via remote video conferencing. It is tough to predict, but we may not return to the ‘normal’ lifestyle we have been accustomed to as quickly as we are hoping. Having the ability to adapt and take advantage of the power of the internet may make or break many in this economic environment. If it hasn’t previously been a priority, right now is the most critical time for businesses of all sizes to take a look at their online presence and figure out the best way to enhance and/or pinpoint a strategy for how they can evolve given the circumstances.
One thing worth mentioning which I feel is very risky for new or small businesses is to rely solely on social media as a website. Having a Facebook or Instagram page is a great way to drive more awareness to your company and its services or products. However, if you only have a social media page and no domain or website, you do not own your web presence and are at the mercy of the social media platform. Many business owners have lost their entire online presence overnight because Facebook delisted their page or changed terms which disallowed promotion of certain types of content or products.
Being in the domain business, we are of course big advocates for folks to acquire the best possible .com domain name that matches their brand, company name and/or product. Even three and four letter acronym .coms for businesses with longer names signal authority and make emailing, branding and direct navigation so much easier. Simply stated, owning and utilizing the most intuitive domain name should be a first priority for business owners instead of just settling for what is available.
As we’ve expressed in previous blog posts, domain names are appreciating digital assets and should be considered essential investments for a business, startup or organization. That said, at this moment there are great deals to be had on many premium domains. We're always available to consult and help you best understand your options for acquiring or divesting your domain assets.