Dotcom Or Dotbomb? By: Vision Quest  Propelled by global information sharing, a ravenous point-and-click generation proliferates on the Web. But where did it begin? And how did it evolve? The answer lies in the Victorian Internet, born from an invention called the telegraph. At this juncture in history, information travelled only as fast as any other commodity — a steamship, stagecoach or railroad — moving at around 15 miles an hour in perfect conditions. The telegraph, however, was a broadband connection moving at the speed of electricity — nearly the speed of light. People of this era actually thought that the forces of nature were harnessed to send electronic messages over a vast distance by teleportation and named Samuel Morse, the telegraph's inventor, "Lightning Man."
The Victorian Internet transformed the entire fabric of society. Proclaimed the new "information age" with the same passion of today's Internet, it was a stunning success.
Fast forward 150 years to the late 1990s and the early part of this
millennium, heady times for Internet entrepreneurs. Trillions of dollars in venture capital pushed both established companies and fledgling start-ups to set up shop online. Wall Street baptized the new darlings of the tech age as investment bankers feverishly pushed their stock. It was the dawn of an e-commerce revolution.
Underlying the "build it and they will come" euphoria was an interesting dynamic: The business models of these companies made sense to everyone but the customer, leading to a tidal wave of dotbomb bankruptcies known as the "tech bust." As shockwaves rippled inside corporate America, capital spending decreased and a large segment of the workforce was displaced.
On the bright side, a downsized workforce created a resurgence of new SMB (small to medium size business) start-ups. Moreover, SMBs have accepted the online business model as complimentary to their "bricks and mortar" presence, or a singular online presence known as "clicks sans bricks."
Shakeout lesson
The shakeout was a lesson: Simply put, the cliché known as the "Dotcom era" is history. We are now on the cusp of another revolution that one author has dubbed the "Hyper Web." Moreover, Internet business profits and online companies are surging.
Consider these facts:
- 88% of TheStreet.com's Internet index made a profit last year
- By 2007, 20 million more households will be online
- E-commerce spending is predicted to rise by nearly 70% in the next four years
The plain truth about the emerging trends is this:
- The overwhelming majority of the coming 20 million online households will have broadband connections
- Faster connections, such as broadband, drive e-commerce revenue
- This creates the most opportune time ever to embrace the Internet
The hype
Before the tech bust conventional hype said that you were an "online company." But that was a lie. The Internet is merely a tool. You are what your CUSTOMERS need you to be, so SMBs must ask, "Who are my customers? What do they value? And how do I give it to them?"
Many SMBs are still confused, however, by an array of so-called expert advice. For them, Web site creation and management is a daunting task. Technology coexisting with human dynamics is a puzzle. How to engage and retain clients is a mystery. And the time and monetary commitment is too complicated.
Starting over
You may ask: "Where do I begin?"
To know where you're headed it's a good idea to have perspective — the reason why we explored the "build it and they will come" persona that never worked.
What does work is learning where a great Web presence begins. And it begins with YOU.
Understand who you are by defining the following concepts:
- What is my company's mission?
- What are my company's goals?
- How do I communicate them online?
- Who is my competition?
Next, you'll be ready to address the winning elements:
- Content — planning a successful Web presence
- Design — look, feel, usability
- Research — test groups, focus groups
- Development — what to look for and who to choose
Finally, ask the question: "What makes a good Web site?"
Sure, you can have an eye-popping site loaded with cool graphics and
Macromedia Flash, known as "BATS" (blinking and twinkling stuff). But, you'll also need:
- A clear message
- Good navigation
- Appropriate design
- Well-written, properly formatted content
Keep in mind that a site visitor is just seconds away from your competition especially if you ignore the three-click rule. With a strategically planned Web site you'll give them a reason to stay.
Speaking of strategic planning...Monarch consultants have ten years experience developing winning Internet, marketing and content strategies. Please review our suite of services.
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