Three Ways to Make Money By Selling Domain Names
Some of the domain name speculators wouldn’t bat an eye when someone mentions the words “Selling Domain names.” This is because domain name speculators consider domain names to be of value and they’re already used to selling domain names online. Do you know that you can still make money online from domain names?
There are at least 3 ways you can use to make money with domain names. Let us discuss each way in details below:
1.) Domain Name Flipping
Domain name flipping involves the practice of buying domain names and thereafter reselling them for a profit. It is like the business of real estate. An investor purchases a home or land and then turns it around. Later on, he sells it to someone else for a higher price. In this case, it’s a domain name that is bought and sold at an amount that is higher than the cost price. How do you flip a domain name?
It is not all that difficult but you should do your research well so as to avoid making losses. Remember your aim is to make a profit. The first thing to do is buy one domain name or more domain names. Be sure to make a wise choice. The domain name needs to be short, easy to remember and possibly contain a keyword phrase. If possible get a dot-com, however, you can settle for a dot-net when the dot-com is not available (already registered).
Now, you have to resell the domain names you have purchased. You can easily do this by using a third party website like Sedo, eBay or Flippa. You can create a listing for the domain names you’re selling alongside their prices. Those interested will be able to contact you with their offers.
Bidding websites can be of advantage or disadvantage to use when selling domain names. They’re advantageous in that you can sell at higher amount than the price you had paid for that domain name hence making big profits. The disadvantage is that you may be obligated to sell to the highest bidder, even if the final amount is very low than what you were expecting.
2.) Using the Domain Name
Another way for earning money with a domain name is to use it. You’ll need to purchase a web hosting service in order to use your domain name. This service allows you to upload content, images, and videos to the internet so that they’re published on your website. This means that you’ll need to build a website.
When building your website, forgo trying to make it too pretty and instead create it to be easier to navigate its pages. Next, you’ll want to find a money-making opportunity so as to monetize your website. Choose a website concept that is profitable in order to monetize your domain name. Such examples include Christmas gifts, wedding gifts, gifts for friends etc. Create content about the topic you have chosen and publish it on your website. Note that the content you create should be of good quality. It should be of use to potential buyers who will be visiting your website. Are you worried that you can’t write? You shouldn’t worry about your writing experience since you can simply hire a freelance writer to write content for you.
You can also choose to promote affiliate products, sign up for Google AdSense, sell your own products or sell advertising space to marketers. Get these monetization methods up and running in order for you to earn money from your website. You should optimize your website and its content on the search engines. By doing this, your website will rank high on the search engines and bring you free traffic. To increase earnings, you can also rely on other marketing techniques such as article marketing, banner advertisements, pay-per-click and link exchange.
As mentioned above, your website must have good quality content. This way, you’ll earn money from Google AdSenses and the product you’re selling.
3.) Turnkey Website
If you decide to use your domain name to create a website, you may find that the process isn’t all that simple. It may take six months or longer before you start to realize profits. It also takes a while to get everything setup. Instead of waiting that long for your website to start making money, you should sell it.
Register domain names, use these domain names to create websites and later on sell them at a profit. When you sell a domain name with a website attached then this is known as a turnkey website. The website is ready for immediate use.
Use a third party website if you plan to sell turnkey websites. Third party websites will help you to sell turnkey websites. When listing your turnkey websites on a third party website, you’ll easily get potential buyers. All you need to do is spend a few minutes creating a listing for the turnkey websites you’re selling.
To conclude, like any other business, people have managed to make money by selling domain names while others haven’t.