Internet Marketing Strategies And Tips
 

Making Money With Domain Names

As with most things on the internet, you can also make money with domain names – if you know what to do. You can try a bit of domain speculation but this is in no way the best way to make money with domain names.

However, with good timing and persistence, you can make descent profits buying and selling domains. The following are a few quick tips.

Do your research

The first thing you want to do is get a feel of the domain market – what’s hot and for how much it is selling. There are a number of renowned domain resale and discussion websites you will want to check out, for instance Namepros and DomainState.

You will benefit from the detailed information there, where some threads contain a collection of names that have been sold by members, together with the respective amounts.

Choose the name

Keep a few tips in mid when deciding on a name to choose. These include:

• Use a short and simple name. minimize words as much as possible.

• The domain name should not have separators.

• Purchase generic product names.

• Whenever possible, acquire a .com.

• Ensure that you don’t infringe on the trademarks of another company.

Make use of keyword search tools, such as Google’s, to find out if your domain name is highly indexed.

Start the hunting

You can use a domain hunting tool availed by most registrars to find out if your desired name is available. Some registrars will offer suggestions if the name you want is not available.

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Choose a registrar

Keep a few things in mid as you select a registrar:

• It shouldn’t always be about who’s the cheapest.

• Find a registrar with good support to answer any queries you may have.

• Reputation is important. Read people’s reviews and find out what they are saying about them. If their support for hosting is poor, it probably shows that their support on domains is equally poor.

Look for discounts

When you use coupon codes, you’ll be able to acquire domains without paying the full price. Members on domain related forums often share coupon codes with other members, so visit these forums frequently.

Determine a selling price

There’s no specific market price for domains. The basic model is ‘willing buyer, willing seller’. Obviously, if your domains are highly sought after and you know it, you can choose to hold out for higher offers. Tips to help you choose prices:

• Recent sales – Look at what other people sold their domains for.

• Do a free appraisal – While this may not be very reliable, it can give a rough picture of what to expect.

• Professional consultation – Although it’s costly, some sites do offer it and it is important when big money names are involved.

Park or Develop

As you wait for a buyer, you can either load the site with some content, or park it. You may earn some minor income when you park your domain from ads related to your domain.

Advertise

Tell the world that your domain is on sale. Go ahead and post your list on domain forums and even on eBay. Convince potential buyers why your domain is worth the money you’re selling it for. For instance, is it a short name that’s easy to remember? Can be successful commercially?

Negotiate the deal

The research you carried out earlier comes into play here. A useful tip is not to wait until your domain’s expiry is approaching as this might put you in a desperate position if you weren’t planning on renewing.

Sell

It’s advisable to ask for payment before transferring. If neither party is content, use an escrow service. The commission may seem hefty but it’s certainly worth the peace of mind especially if it is a big money domain.

And there you go with making money with domains. These are the basics of selection, buying and selling domains.

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