What Business Owners Need to Know to Prosper in the New Normal
Life in COVID lockdown has forced most of us to remain in or near our homes for months. Now, new research shows all that time spent inside has had a profound impact on how we live, work, shop, and entertain ourselves.
McKinsey & Company took a look at how COVID-19 is changing consumer behavior, and what businesses can do right now to prepare for–and prosper in–the “New Normal.”
Here’s a look at a few of those areas and how savvy entrepreneurs are leveraging domain names, particularly new Top Level Domain names to attract customers seeking their products or services.
Life and nesting at home. Online usage at home is surging. Home has been recast as the new restaurant, entertainment center, and coffee shop.
Driftaway Coffee is an online coffee subscription and gift service that lets customers sample single-origin coffees from around the world while supporting small farmers. Coffee even ships in compostable packaging.
Simpli Press offers consumers a modern twist on the venerable French press. Both companies use the .coffee top-level domain extension to connect with coffee connoisseurs looking to replicate the coffee house experience at home.
Communications and information. In-person meetings are in decline, home media replaces real-world engagement.
Now that small businesses are shifting to online video communication, they need to find ways to efficiently scale their video content. Companies such as BeLive help small businesses stream live and recorded videos across the biggest platforms simultaneously.
Churches no longer holding on-premise worship services have had to find new ways to inspire their communities. Limitless Church recently transformed its website to offer streaming services and classes, and use an unmistakably relevant domain name for existing and prospective members.
Play and entertainment. Preference for digital entertainment, channel shift to streaming, additional play time.
The founders of Online.Casino recognize that online gaming from home will grow for years to come. Their proprietary algorithm helps people sift through myriad gaming sites to find the one that fits their style and makes them happy.
Learning. Education will be one of the industries with the most significant shifts due to COVID as schools nationwide are in various stages of opening.
Millions of children, parents and teachers got a crash course in online learning earlier this year, but the pandemic has also driven many people to switch careers or add new skills to make themselves more marketable by taking classes remotely. Elliott Real Estate Academy offers online courses and training for people looking to get into real estate.
Health and wellbeing. COVID-19 has led to an increased focus on health, hygiene and fitness — all on demand.
COVID sparked a massive run on exercise equipment as gyms were forced to close their doors. The staff at Just Get Fit quickly adjusted to a world where in-person training no longer existed. They developed a virtual training program using FaceTime to maintain clients and keep them in shape.
Shopping and consumption. COVID created a huge surge in e-commerce shopping, but many consumers preferred to order from stores closer to home.
Amazon is clearly the biggest winner of the COVID-19 lockdown, as are big-box stores Like Walmart and Home Depot, but a significant number of small and medium-sized businesses moved quickly to distinguish themselves online and find new customers. The fastest-growing TrueName top-level domains from March to June 2020 were .boutique and .delivery, evidence of the shift in preference by consumers to “shop small” and support their local businesses.
If you’re a small business owner looking to weather the COVID storm and prepare for the “New Normal,” find the right domain name at TrueName™ now.