In the digital economy era, the domain name has played a vital role in building business development strategy.

This is especially true, when enterprises aim to do business on a global scale, according to participants of a workshop on brand management and online business promotion on Friday.

Organised by the Vietnam E-commerce Association (VECOM), the event aimed to provide updated information about the market and new e-commerce trends, as well as to share experiences and solutions for brand management.

During the workshop, experts shared their experiences, and the trends in initiating identity and protecting a brand when conducting an online business, as well as emphasising the benefits of owning a domain name that is consistent with the brand identity and domain administration.

Experts said that the domain name was not just an internet address but was closely linked to the business and brand of the business. Building a brand requires a lot of effort and investment over the years. To global corporations, the brand is defined as an intangible asset that contributes significantly to increasing the total value of the business, which offers a vital competitive advantage to the business.

“Choosing a suitable domain name is the first step to build a trusted and successful online presence. Using a reliable domain name extension will help your business win the trust of its customers,” said Tran Duc Tam, head representative of Vietnam.

President of VECOM Nguyen Thanh Hung said that VECOM implemented many activities to raise awareness on the meaning of the domain name.

“The choice of domain name should be associated with the business development strategy of the company, especially when an enterprise aims to do business on a global scale,” said Hung.

“VECOM continues to pursue the goal of “every business owns a website” and to promote the business community’s awareness on the advantages of domain names in the digital age,” added Hung.

According to a VECOM survey in Viet Nam in 2016, the domain name .com is registered the most, followed by .net. Surveys show that an enterprise’s investment in .com is very small, as compared to its significant effect on branding.

Although there are now many domain options, .com is still one of the most standard domain names recognised in the online identity of businesses, with 129.2 million domain names registered worldwide until the end of Q2 2017.