The Dot Com Crash

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The internet revolution is here, but it definitely had an over-rated start; in early 2000 we correctly foresaw the "dotcom" crash as necessary due to some misjudgements about the purchasing habits over the Internet in its current state. It was our feeling that the business models were overly-optimistic and did not take a critical look at what was involved in doing business on the web. One of the factors, for example, is the number of steps required in making purchases and repeat purchases from a company, as well as a sense of lack of identity in making those purchases. It is our belief that the concern is not potential internet customers feeling they lack knowledge of the company they buy from, but instead a frustration over the internet world not knowing THEM. This sense of not having an identity online is created by having to fill out forms repeatedly, and it is our opinion that the browser interface to the Web is far short of ideal.

Although companies like Microsoft are currently working on technologies such as ".NET" which will allow automated online services, it is still anyone's guess as to what system will finally emerge as one that can allow an average, middle-class family to comfortably interface with their computer for buying groceries, managing their bills, etc.. We do believe that a website designed today, although it will not become obsolete, may not be able to participate effectively in the promised and hoped-for (but still-to-come) "dot com revolution" of early 2000.

Compass Point Media's goal from day one is to make sure that your website can be adapted to whatever changes occur. The changes that we expect include a lot of hidden coding that will allow computers to do the work that today's "web surfer" does over the keyboard, coding that will allow your site to interact with customers automatically. The upcoming advancements will include ways for search engines to more effectively read information about the information service or product you provide, as well as your company and track record. We believe that third party rating will be a key aspect of any new system since a buying base in prosperous economic times will be just as concerned with your ability to provide the service or product well, and what kind of service you provide in case they have questions, as they will be with the price.

Having mentioned these points in balance, we still feel that the future is bright for companies willing to innovate in offering information and product. The edge will be and must be customer service, just as for brick-and-mortar stores, along with the ability to make your purchasing base understand the new product and services you provide. In the end it will be the information that goes along with your product, and the ability to access that information, that will make the difference between a sale to you and a sale to your competitor.