How Failed Economic Development Strategies Left Many

Companies Out Of The Digital Economy.

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Posted on July 31, 2019

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Tags: Digital Economy, Economic Development Solutions, Cross-Border eCommece, eRetail, Fourth Economic Revolution, Down Market Disruption, Economic Transformation, domain name brokers, voice control, data privacy regulation, commerce

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By Joe Novak

Founder of Empire Builders

Eau Claire, WI

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As present and former business owners look back at years of failed economic development strategies, they realize their unwillingness to embrace, evolve and shift into the new digital economy became the Achilles heel of their growth failures and closures. The unfortunate reality is that there are still many business owners today that believe they still have time to acclimate into the greatest economic transformation since the industrial revolution.

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From the smallest of companies to the biggest, time is no longer on their side, the reality is online consumers evolve with technology and no longer value traditional ways of doing commerce. In-the-moment consumers searching for product and services by keywords online are making split second buying decisions on a mobile device that's no bigger than an index card using voice recognition.

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The refusal by American companies to invest in this digital economic transformation is setting up a huge opportunity for those companies that had the foresight to invest in this ever-transforming digital economy. The early adoption and investment in the digital economy will provide many advantages. From domain name investors and brokers to fortune 100 companies, they know owning a category-specific voice-controllable domain names in a global cross-border digital economy provides growth opportunities that will be hard to rival in the future.

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The ability to monetizing the first four inches on a mobile device that is no bigger than an index card is an advantage that big technology companies will spend billions on to solve data privacy and anti-competition regulations. As cross-border eCommerce grows around the world and data privacy laws take hold, American startups and entrepreneurs will find it especially difficult to effectively launch or even compete without significant investor seed funding, data science and or technology backgrounds.

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The next big disruption I believe that is headed for American companies is Chinese eCommerce drop-shippers that are creating dominating category-specific voice searchable mobile websites meant to rival American eCommerce retailers online anywhere in the world with same day or next day shipping from the US.

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Companies in need of a turnaround strategy or a digital advantage should consider investing in an industry specific category keyword domain name to avoid becoming irrelevant in the ever-expanding digital economy.  Like cherry blossom petals falling in the springtime, so will companies that fail to act. Empire Builders has hundreds of industry specific category keyword domain names avalible.

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