Brand Identity: But at what Cost?

The Internet has changed the way many of us conduct business. More importantly, an even greater number of people will be conducting business on the Internet in the future, whether it is through buying books, looking for a new home, or trying to reach clients. This recognition of a truly global economy conducting business in real-time has been the driving force behind the astounding price-to-earnings ratios of several Internet-based stocks. Yahoo?s valuation now exceeds many Fortune 500 companies, based largely on its name-recognition, which guarantees it an even larger user base when offline people finally log on to the Internet for the first time. Amazon.Com, which didn?t exist a decade ago, now exceeds the value of Barnes and Noble and Borders Books combined. The fact remains: If you are a business and aren't online, chances are you are being left behind or will soon be playing catch-up.

Domain Name as Identity

For many of us, myself included, we're being forced to play catch-up with the likes of companies and websites that are bigger, flashier, and more established than we are. One (not the only) of the biggest obstacles remains the domain name. Lets face it, short and intuitive domain names are appealing but how likely are we to steer our browser to Internic.net and secure a name like: books.com, family.com, doctors.com, and wallstreet.com? Not very likely. Six months ago I had never written a line of html code but decided (having finished a graduate degree in poetry) that I would launch a site dedicated to poetry reviews. Fortunately for me, poetry is not a hot commodity and I was able to choose a clever domain name. Today, I have a fairly active (and still growing) website on poetry reviews called PoetryPreviews.Com.
 

Domain Alternatives

However, what struck me during my web education was the level of importance placed on .com domains as opposed to the other options that exist online. Working in an international firm, I have discovered a large number of multi-billion dollar international companies abroad that ignore .com and launch/maintain their sites ending with the domain of their mother country: uk (United Kingdom); .jp (Japan); and .de (Germany), to name just a few. The fact for these companies is that .com is not necessary. Because many countries allow (and in the case of some non-industrial countries, encourage) foreigners to register domain names, you are much more likely to secure (or if already taken, afford) a memorable domain name. Granted, there are cons: users are more familiar with .com. However, I?ve noticed that many more surfers (especially those abroad) are paying closer attention to the last two or three digits of a domain (having learned their lesson when foolishly assuming all domains are .com

Sizing Up the Pros and Cons

I am the first to admit that if you can secure a short and memorable .com domain, you should grab it. However, I am also the first to admit that if you're faced with choosing an awkward name that doesn?t clue users into the nature of your business (such as www.mickiekennedyconsulting.com) or a non-.com domain that does provide some insight into the nature of your business (like www.stockbroker.vg), consider the latter. As the Internet becomes less U.S.-centric and more global in audience, the importance of .com will likely recede (if just a little), making room for others who decide to hang their virtual shingle on the Internet.