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.co – dependency: Should You Rely on the Next Domain Craze? Part II

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Last week, we talked about the introduction of the.co domain and the failure of previously introduced domains (like .biz). The real question is: why should you and your business take .co seriously?

GoDaddy.com is pushing the new .co hard – the domain registrant is trying to make .co sexy – or at least as attractive as a .com domain. And GoDaddy.com is not the only company that believes the new suffix will last:

According to the .co registry operator (.CO Internet SAS), Overstock bought the new website (and “related” sites) for $350,000. That coupled with GoDaddy’s Super Bowl commercial mean that two major online players are betting big bucks that .co will catch on. How does that affect your company?

Overstock calls their new website an “investment in the future.” They recognize it as an extension of their brand, which has become known as “The O.” They are using the URL as a way to proactively reinforce their identity. Additionally, Overstock’s tactical reasoning behind the shortened site is that with the rising use of smart phones, a short web address is easier to type on a touch screen. O.co will be used simply as a shortcut directing traffic to the original website.

Although we can’t recommend a hefty website purchase like Overstock’s, there are much, much cheaper ways to make sure your brand is protected online.

As with any online presence, your number one priority should be to protect your intangible capital: your reputation, your trademarks, your brand. Right now, buying “yourcompany.co” is a cheap and easy way to do so. It’s a proactive way to be on the defense and offense. Not only does an additional URL reinforce your identity and prepare you in case .co does catch on, but it protects you from someone else using it against you. You could potentially find yourself in trouble if someone else buys your web address at a .co name and refuses to sell for a reasonable price – or worse, a competitor or disgruntled employee could use it to post negative messages about your company.

The short .co has the potential to catch on fairly quickly – especially with the backing of two large consumer brands like GoDaddy and Overstock. What’s our stand? Be prepared – better to be an early adopter than completely out of luck.

What do you think? Will you buy any .co domain names or take your chances?

Related posts:

  1. .co – dependency: Should You Rely on the Next Domain Craze? Part I
  2. Challenger Branding
  3. Live From New York!

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