Do You Rent or Own Your Digital Home?
By Carrie Cousins
Thank you to Valley Business FRONT for featuring our Director of Digital Marketing, Carrie Cousins, in their March 2024 issue.
When it comes to online real estate – your website, social presence, email, and more – where your assets live can make a big difference.
Renting versus owning your digital home can impact everything from control of your brand and assets to search engine optimization. Just like with real estate, owning your assets provides protection against market fluctuations and the peace of mind that your content is truly yours.
What is “Renting” an Online Presence?
When you rent your online presence, you are using someone else’s tools or platform as a home for your brand, content, and information. This topic has gained importance recently as Google announced that all business profiles using the free website option lose those websites on March 1.
That’s rented real estate and you have no choice but to move – quickly.
While most of you probably don’t have a free Google website, you may be doing this same thing with other platforms.
The most common rental is social media. Facebook, LinkedIn, TikTok, and others are all valuable places to put business information, but you can’t control the delivery of the content or if the platform will even exist tomorrow. (Yes, a social media channel could shut down and all your content goes with it.)
Other “rental” solutions include popular website platforms like Squarespace or Wix, where you build a website in a builder that includes your domain registration and hosting. If that platform were to shutter, where would your content be? (The answer is likely nowhere or in the hands of the owner that is most likely going to make major changes to the platform.)
Yes, renting a digital home is easy and somewhat effortless, but you are at the mercy of the provider any time something changes.
- Your website provider has a rate increase? You have to pay it.
- Facebook knocks your content out of their algorithm unless you pay for ads? You have to find additional budget to reach the same customers.
- Your website platform discontinues service? You have to rebuild fast.
Why “Owning” is a Better Investment
When you own your online presence, you have access to all of your digital assets that can’t be revoked or taken away by a third party. Elements like your logo variations, photos, and video fall into this category if you store the files using a physical or cloud server. (Plus, a backup is recommended.)
Other things you can own include your domain name, website, and email list.
Generally, you know a digital asset is owned because it likely includes an upfront investment of time, setup, and/or money. Just like owning a home, these investments can increase in value over time. (Did you know search engines value domains that have been around a long time?)
What’s probably most important about owning your digital assets is that you have control to change, move, or transfer digital assets between accounts or even marketing agencies on your own. Any reputable partner will work with you on accounts, ensuring that both parties have access to everything. It’s a red flag if someone won’t give you access to your business account information, such as a domain or website access.
Rent vs. Own
Rented assets are quick, cheap, and don’t come with any maintenance. The biggest risks are closure or cost inflation. Use this option for things that don’t generate much revenue for your business or if an ownership option is not available.
- Rent: Social media, email marketing provider, review sites or maps (such as Google My Business or Yelp), digital advertising platforms, licensed media or tools
The benefit to owning is that you are building brand and online equity at the same time. You have control of your online presence and assets and can even monetize them. You should own all revenue-driving aspects of your business (such as a website that’s driving leads or sales for your business).
- Own: Domain, website, media storage, email list, analytics or historical data, your created content (blogs, photos, videos)
Owning your digital house is a worthwhile investment. Think of it as your company’s dream home, providing long-term value as you grow your business.
Carrie Cousins is the Director of Digital Marketing at LeadPoint Digital in Roanoke. For 15+ years, she has helped businesses tell their stories and get better results online with practical digital marketing strategies. She also an active leader in AAF, serving on the local and district boards, and is an adjunct professor at Virginia Tech.
