There's a insightful article on The Wall Street Journal about the continued closings of retail stores. The Business Insider had an article earlier about the same topic. It's all the more reason to get your business online or tune it up and expand your marketplaces, no matter what type of products you sell.
The article focuses on retail outlets declining and how more people are finding the convenience of online shopping. What the article doesn't say is that the shopping habits of retail are being carried over into all business classes. B2B (business to business) decisions are being made the same manor. If your business isn't found or engaging enough, customers are going elsewhere at light speed. To further that statement, the experience they find while using your site, is exactly how they perceive working with your organization to be. It's your corporate image. It's your credibility and it tells how well run your organization is, be it corporate, a government agency or a charitable organization.
Not many people will ever see your place of work, but chances are they will visit your website at all hours of the day. Just ask your analytics guy. People follow up in the evening, weekends and at all hours of the day outside of normal business hours. It's how research is done. The more advanced will employ secondary research groups to dig deeper, but generally what they see in the search results or after trying a few URL's (domain names) is it.
Two key points for making more money. Get a great domain name for your business and keeping acquiring them while they are inexpensive. Some businesses own hundreds of thousands of names. Disney has about 20k names, some pharmaceutical companies own even more. The internet isn't going anywhere and isn't going to be replaced anytime in the next 30 years. Names you could have bought 10 years ago for a few thousand will never be available for sale again for less. Buy words in English and .com extensions. These will always be the best most memorable search friendly names that bring affluent customers to your door.
Build a scalable and dynamic website. Keep adding relevant content and you'll keep driving targeted traffic. If you sell widgets, you want to attract people buying widgets. Your website needs to the best you can present for your market and dynamic. Dynamic is fresh, evolving content and interactive. Interactivity is how you listen to your customer's needs. This is how to communicate, make it easy and make it fun, gamify it.
Read more on web development and building your user engagement here.
I graduated high school a year early on the condition set by my parents that I attend a junior college. So I enrolled for a couple of night classes at what was locally referred to as UCLA or University Closest to Lambert Avenue, better known as College of DuPage in Lombard Illinois. I signed up for a couple of classes. One class was Intro to Business and after a couple of days into the class I was really enjoying it. Our instructor was like no teacher I had in high school he had an unorthodox method of getting his points across and when he began the course he started by telling us that he wasn't going to teach us the way business was done by the book, he was going explain business in the real world and how to be successful in it. This got my attention and when he told us that he caught Mitsubishi's initial listing on the American stock exchange making millions and was only teaching there for 1 dollar a year, he had my full attention. At the age of 17 I didn't know what I wanted to do, I only knew what I didn't want to do, and that was working in a 9 to 5 grind for the rest of my life.
Without getting on a rant here, one of the main points he kept emphasizing was to spot trends in business and consumer behavior. I look for trends daily and one source I keep going back to is BusinessInsider.com. If there's any indication of what the future holds it will be a change in currency. Follow the money trail here, there are several start ups in the financial sector where investment is in internet financial vehicles, financial tools, cryto-coins, lending platforms and investment can be viewed more of a diversification of the current financial institutions. The finance industry knows which way the wind is blowing, they're closer to the ground floor of business in general, they know what the numbers are. Here's a link to some of the top Nordic startups.
The obvious investment is clicks and bricks, solid online business models. And, whatever you're doing, it will be online.
There's a revolution in technology going on and for as many businesses that get it, many intelligent organizations still just do not. I get a few offers, most of them low, on different domain names every month and one of the questions I was asked by a potential purchaser was, how do I arrive at a price?
It's a fair question and to put an answer to it, here's the rationale behind the numbers. First, like real estate domain names are virtual property, but with several valuable added dimensions. Domains are the way customers find your business, remember your location and spread the news about your products. It's your business address for all practical purposes. Ninety percent of the people you do business with will never visit your business at it's physical location, but they'll all check your website, which is by way of your domain name.
Names that have more traffic or are capable of generating more traffic with short memorable names are worth more and their market demand is more. Like having a shop on main street vs. opening up a business on a rural road. A good memorable name that suits your business or product lines brings customers and helps them find their way back to you. Most company names are picked without the customer in mind or without any marketing considerations, just a name that means something to the organization on a somewhat emotional level. You can spend millions branding a odd name or bring the brand to your door with a descriptive name. And with domain names, you can have several or hundreds of names to drive traffic to your business.
The method, internet media. Consider the pro's and cons of different advertising media. There's print, TV, radio and internet. Print, I throw it out. It's garbage that comes with my printed mail. I haven't bought a newspaper in over 10 years at least and the last time I think I looked at a magazine, I was either in a doctors office or on a plane. Forget print, it's over. The postal service is nostalgic and I'd be willing to bet 100 percent privatized within 10 years. TV, I watch movies for the most part or change the channel during the commercials. Watching the Atlanta Falcons beat the Aint's in the season opener, I saw a couple of ads, but couldn't tell you what they were today. I'm moving in the direction of subscription TV like Netflix and Hulu. I'm not alone. Radio, okay you get ads in front of me while driving more often then I care to say. Occasionally, I am too lazy to load a playlist from my phone or all the stations that I have programmed in are in sync with their commercial's timed together. Traffic reports get me to tune in, but the rest of the noise I could do without. I get about half of percent of anything useful from radio news. The tone and rate of speech only ramps up tension. I'm working on weaseling out listening to main stream radio all together. Half the time I enjoy just listening to silence.
The internet has main access to get in-front of my eyes. I am on the net at home, at work, even while visiting a store in the mall I might be checking prices of a competitor on my phone. I have discretionary income and I move quickly. Like a lot of your customers, I have much to manage and like in the real world, I have to be street smart online and as nimble as a forest creature to find the best deals. I validate a business I am going to use based on the domain they have, how their website looks, works and if they have a phone number on their contact page. Usually I like a second opinion, options or it's just the way to complete due diligence by checking a few other sites. How I find that second, third or fourth site through search or by their domain name directly is potentially a company I'll be working with. CEO's of those companies are the CEO's that are likely to make their 17 percent growth targets and are the ones that get their bonuses. They're the one that get it. I price domain names comparable to other media even when that media is less effective.
30 seconds on Atlanta TV during prime time will cost you 30k and your money is gone just that fast. Most industry magazine ads will cost you upwards of 1200 per month for a four color, 1/2 to full page ad and you don't even know if anyone is reading it. Your domain name is yours perpetually. The internet is even more revolutionary as the phone system was when it came into being some 120 years ago and as fast as technology grows, the internet is not going to be replaced anytime soon. With a great domain name you look like the authority in your industry. Most clients will never see your office, I can't stress enough how important your online presence is. Technology is the only industry that has had double digit growth since the 70's and looks to be booming for the rest of man's existence. The slope of the curve is about to go vertical.
The short, memorable, brand-able, desirable names, and what other similar domains have sold for, makes for the price range listed. We encourage you to make offers on our domains and other available names. The cost, effectiveness and value is continually rising.
WDD (World Domain Day) is an international event for the promotion of domain names and to educating people with building successful online businesses. WDD is being held in India for the first time on 8/24/2014. Join them to network with hundreds of domain investors, web professionals, startups and venture capitalists to learn all about creating successful online businesses!
Register for the event to listen to international speakers, receive exclusive offers, gifts and much more. Learn about the importance of domain names and e-commerce in the largest developing and fastest growing market, India.
India's projected growth rate for technology is in the neighborhood of 35% annually for the foreseeable future.
Spoiler Alert - If you haven't seen the final episode of MadMen, read no more. MadMen was weekly TV series that ran on AMC and just came to a brilliant concluding episode. I found the show intriguing on multiple levels. First as a period piece into the advertising industry roots of the 50's to 70's. The characters were well formed and wisely engineered into an almost historic account of advertising growth as it was woven into American culture. The final episode tied it together with a twist I didn't see coming until the classic Coke ad brought it home.
Don Draper's smile while chanting as the new dawn arose could have been that he finally found peace, or was it that he just got the idea for one of the best ad campaigns in history. The next scene was the 1971 "I'd like to buy the world a Coke" commercial. Brilliantly written, directed and executed. (standing ovation). Through the course of the series the ad firm grows into a multi-million dollar empire. What's ironic now is that there is a new dawn in advertising again. The ad firms and TV stations that got rich during the MadMen period a now seeing a seismic shift in the platform, welcome the internet. The dawn is over but the sun hasn't full risen. The day hasn't even begun to warm yet. It'll be interesting to see how history and culture remember this segment of our development, who'll be the next Don Draper's and just how technology will evolve.
Opportunities are everywhere. Internet growth and online advertising are set to explode. Where will your business be?