10 steps on how to succed making Money on Domain Names

One of the most spoken deals in domain reselling was the sales of www.cellphones.com was sold for USD$4.2 million in cash. The original owner paid USD$90 for the name in 1996

“The secret has to do with what’s known as type-in traffic, or, in Wall Street jargon, direct navigation. Though it may seem odd in the era of powerful search engines, it turns out that millions of Internet surfers don’t use search at all. Instead, they type what they’re looking for right into the top of their Web browser.

Looking to buy candy? Type in Candy.com, a name Rick Schwartz bought in May 2002 for USD$108,000. A page filled with links to candy-related products comes up. Click on one of the ads and the advertiser pays Google, which in turn sends a share to Schwartz and the company that runs Candy.com. Some days Candy.com makes Schwartz USD$300 in profits; the site paid for itself in a year and a half. “ – via Business 2.0 CNN Money

Just to let you in on some trends in todays domain sales market is a top 10 overview from 2009 made by Domain Names News online services.

Toys.com sold for 5,100,000 USD, bankruptcy auction

Candy.com was sold for 3,000,000 USD, PVT sale

Fly.com was sold for 1,760 ,000 USD, Sedo

Auction.com was sold for 1,700,000 USD, Pvt Sale

Webcam.com was sold for 1,020,000 USD, RickLatona.com

Server.com was sold for 770,000 USD, Sedo

Talk.com was sold for 500,000 USD, Sedo

Top.com was sold for 357,500 Euro, Sedo

Body.com was sold for 400,000 USD, Sedo

Forums.com was sold for 399,999 USD, Sedo

Domain speculation is one of those online money making activities you can try for fun, but the risk is high, and success rate is relatively low, so don’t expect to quit your day job anytime soon.

In case you want to try your hand at this, here are a few quick tips.

1. Do the research:

You will want to get a feel of what’s selling on the market and for how much. Check out prominent domain resale and discussion sites such as DomainState & Namepros for a start. I found this this forum thread on Namepros to be particularly useful as it serves as a compilation of names members have actually sold, with their respective amounts.

2. Pick the name:

When deciding on the name you want to pick keep in mind these tips:

Keep the name short and simple. Use as few words as possible Do not use separators in the domain name Buy the generic product category names Buy a .com whenever possible Don’t infringe another company’s trademarks

For more details you may want to read www.friedbeef.com/2006/10/21/8-critical-considerations-for-picking-business-domain-names/ on Critical Considerations for Picking Business Domain Names.

Another way to determine how popular your domain name might be, would be to check Overture’s free keyword suggestion tool – which tracks how popular a search term is, or Google’s own search results to see if your domain contains a highly indexed (and probably highly demanded) keyword.

3. Go Hunting:

Most registrars offer some form of a domain hunting tool to let you know if your desired domain is available. Some even provide suggestions for you if they are not. My favourite however is still Instant Domain Search which checks domain availability – as you type. They’ve even come up with a widget which I have embedded in this post so you can search for domains right from this page. (RSS/email subscribers – please click through if you have trouble viewing the widget in this post.)

4. Pick a registrar

Picking who to buy from isn’t always about who’s the cheapest. Good support, to answer any questions you may have Ease of transfer is important to avoid any delays when reselling the domain Track record is important. Search the web to see what people are saying about them. Sites like WebHostingTalk and BestHostRatings offer reviews as well. If they don’t have good support for hosting, they probably won’t have good support on domains either.

Oh yes, avoid iPowerWeb like the plague. My short experience with them was nothing less than horrible.

5. Find discounts

Coupon Codes are codes that enable you to receive discounts, and a great way to purchase domains without having to pay full price.

Check out domain related forums, and members will sometimes disclose coupon codes to help the community in general. GoDaddy.com for example, publishes coupon codes openly on podcasts. If you plan to use GoDaddy.com you can type in Chris1, Chris2, Chris3, or Digg in the coupon code section to enjoy great discounts.

Let me state once again that domain speculation is one of those online money making activities you can try for fun, but the risk is high, and success rate is relatively low, so don’t expect to quit your day job anytime soon.

6. Decide on a price

Just like most other online sales – there is no real market price for your domains. Everything runs on the most basic ‘willing buyer, willing seller’ premise. Of course if you feel your domain names are sought after, you can hold out for better prices.

To help you decide on a price, you can use:

Past sales – Take a look what people are selling their domains for. Free Appraisals – Take a free appraisal. This may not be terribly reliable, but would at least give you a rough indication of what to expect. Try Leapfish as an example. Professional Appraisals – Some sites offer professional consultation, which is more expensive, but important when dealing with big money names. Try Sedo for professional help.

7. Park or Develop

What do you do with the site while waiting for a buyer? You can either put some content up, or simply park it. Parking your domain will create an instant page of advertising listing where are generated based on the domain name. For example, a shampoo related domain name would have shampoo ads on it.

Domain Parking accomplishes 2 things. It lets you:

Earn some minor income on the side while waiting to resell your name Gauge whether you should even sell it in the first place! Some names are popular enough that they pay for themselves via advertising (when people click on the ads).

8. Advertise

Let the world know you are selling your domain. Try posting your list on domain forums like Namepros, domain reselling specialists like Sedo, or even eBay. When describing the domain, create a compelling argument as to why it is worth the money you’re asking for. For example, is it a popular search term? Is it short but memorable name? Is the name useful for commercial purposes?

9. Negotiate the deal

Here’s where your research you did earlier gives you an idea of what type of prices to hold out for. Here’s a tip. Don’t wait until your domain expiry is approaching before starting to lower your prices. It puts you in a desperate position if you don’t plan to renew it.

10. Sell Sell Sell

Wherever possible, ask for good contract with payment terms first before transferring. Try using an escrow service such as Sedo or Escrow if it makes both parties more comfortable. The commission may be a bit high, but it may be worth the peace of mind especially with pricey domain names.

And there you go… 10 steps which should walk you through the whole selection, buying, and selling process. What other tips do you have?

We are more than happy to help you define a strategy for how to sell your domain, and even make sure you will achieve best price for your domain. We know how to market domains, and we certainly know how to make your domain more attractive to the potential investors.

Write us at sak@ec-ba.com and we will be more than happy to discuss your sales plans. We do content management and web design, so if you need any assistance in this area as well, we are more than glad to assist you there. We work on a no cure – no pay strategy, so there are no risks involved for you. Best regards Stig-Arne Kristoffersen EC-BA W.L.L

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Maybe you’ve seen advertisements on websites, or heard stories about a guy who made his fortune as a cheap domain reseller – buying and selling domain names as a business, instead of just for personal use. Maybe you already have a domain reseller account with your Internet service provider (ISP), just waiting to be used. But is it a good idea to buy and sell domains as a business?

Luck of the Draw?

There’s a lot of hype attached to the domain reselling business. CNN reported that “business.com” was sold for $7.5 million in 1997, and in 2003 “men.com” was sold for $1.3 million, but these are unusual cases involving very specific domain names, and most domain investors will never get that lucky. Partly this is because it’s difficult to value domain names, and partly this is because of misconceptions that all “good” names are taken. In addition, the availability of country code domains has opened up the domain naming field, allowing people to buy and sell domains with short names and new extensions.

What Makes One Domain More Valuable Than Another?

As stated above, valuation of domain names is extremely tricky. This is because the market to sell domains is driven by the perceived scarcity of “good” names. Most business owners, whether their companies are large or small, prefer a name ending in .com over a name in any other top level domain. As well, memorable combinations of relevant words that can easily be used in a domain name are already in use. Adding to the price increase is the fact that while more than 17 million domain names have been sold, not every one of them is necessarily good. Generally, in order to be saleable, domain names, in addition to ending in .com, must also be fairly generic. “Law.com” “tv.com” and “business.com” are classic examples. (CNN paid several thousand dollars for the tv.com in the early 2000’s.) The reality is that most of these domains will never be resold, and will end up being released for registration at the standard rate of $10-$30/year. The notion that highly priced domains must be one word is a myth, however. Word combinations can be extremely valuable if the words are relevant especially considering their value in terms of  search engine optimization. “BookBuyer.com” might be worth purchasing, but “BookSink.com” is essentially nonsense, even if it is short. For this reason, while it is recommended that people seeking to buy and sell domains stay within highly commercial industries (law, loans, books, cars, etc.) it is important that they choose their domains wisely.

What You Need to Know

If you do have aspirations to sell domains, there are certain things you need to know. First, it’s essential to have a domain reseller account. This is a special bulk account through one of the domain reseller programs offered by such domain registrars as BulkRegister and Dotster. Such an account allows you access to listings of domains about to expire, as well as discounts on bulk registrations (generally minimums of 50 at a time). Most of the major domain registrars offer such programs to those who wish to sell domains. Free information rating registrars can be found in online domain reseller review lists, such as the one at RegSelect.com. In addition, it is important to remember that statistics are against making big money as a cheap domain reseller. According to igoldrush.com, of the approximately 20 million .com, .net, and .org domain names sold, perhaps 20,000 of those will be resold within a given five-year period, and of those 20,000, 90% of them are worth 4 figures or less (with most falling into the ‘less’ category).

Other Alternatives?

There are, of course, other ways to buy and sell domains than using the services attached to registrar-owned domain reseller programs. One is to contact large corporations directly, if you’ve secured a recognizable domain that is relevant to their brand or industry, but this is not generally terribly affective. Additionally, there is always ebay. While most products sold through the online auction house are tangible goods and services, they do allow domain sales, and the use of ebay allows investors to do additional marketing of the domains they own.

So Is Domain Investing Worth the Risk?

If you are looking to make a quick buck, domain investing may not be the industry for you. If, however, you enjoy a good gamble, and have the money to spend, reselling domains can be lucrative. Thanks to the afore-mentioned country code top level domains (like .us and .de), valuable names are still available, but successful reselling takes patience and a lot of research to find quality names, and quality marketing techniques. The bottom line is this: if you are seeking to be rid of a single domain you no longer use, your best bet is to either let it lapse, or go through a cheap domain reseller, and let them market it for you. If you want to buy and sell domains as an investment, commit to a high-end domain reseller account at your registrar of choice, and take advantage of their services and support.

Newbie expired domain traders keep searching for newer and innovative ways of making money out of their expired domain names. Expired domain trading is a vast industry, where almost every domain trader will be competing with others to sell their stock of domain names. What happens when an expired domain trader sits on a big pile of domain names without using them for any commercial purpose? The result could disastrous for the business, because the cost of retention and maintenance is always recurring and it can cut a big hole in the pocket.

Sitting on a big inventory of expired domains is a fruitless exercise that consume too much of your precious time as well as money. You must focus in deriving handsome income from your domain names so that you can cover the cost of retaining them with you. One of the simplest ways to earn money with your expired domains is to park them on specially designed and marketed domain parking web sites.

Domain parking offers you several advantages and benefits of not only earning money, but also maintain your expired domains in the most profitable manner. Some of these benefits are:

Enough revenues: Almost all domain-parking companies share a generous share of income with their clients. This income is enough to cover the expenses involved in maintaining your expired domains.

Very simple set up process: All domain-parking companies offer you a very simple set up process that does not take even five minutes. Signing up and running the account is also very simple.

Contractual obligations: You need not sign any agreements or contracts to stay with these firms. You can move away to another domain-parking company without any penalties or fines.

Global reach: Language and regions are no barriers to you. Most of the well-known domain-parking services provide the services in all major international languages. You can even use highly accomplished geo or regional targeting to drive visitors to your web site.

Efficient sales conversion: Domain parking is an efficient way to turn your domain into a cash machine. It also enhances the chances of domain auction or sales by over 100% because of the wide exposure and virtual advertisement.

Domain parking uses an advanced method of search. It takes the advantage of using type-in type of traffic that is when a web surfer simply types an address on to the search bar of the search engine in a hope that he or she will get the desired information from the search. Domain parking can add real-time value to your expired domain. When you see that your expired domain is increasing in its online value, then you can sell off your domain to the highest bidder.

With all its wonderful benefits and advantages, domain parking still has some pitfalls. Most of the time, some of your domains may never receive any traffic. In addition, the income generated by parking your expired domains may not be substantial. However, domain parking is a lucrative way to park your otherwise dead and expired domain; domain parking can resurrect your dead domain back in to life.

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