Everything You Need To Know About Making Money Online By Flipping Domains
Internet is full of business opportunities and interesting ways to make money, and the best part is you don’t need to invest . All you need is some careful planning, patience, and persistence. You wouldn’t be making fortune with any of these methods, but if you can play your cards right, you will surely be earning good part time income after some time. Domain flipping is one of those routes that you can take to make money online. But there’s one thing common with all of these methods and that is, the need of little or no investment makes it incredibly easy for people to get in and try their luck, resulting in massive competition, so doesn’t matter which method you are about to try, you should be ready to do your homework before stepping in.
Domain flipping is a fairly simple business, in which you buy a catchy domain and then sell it for a profit. But while it sounds pretty simple in writing, it will take quite some research and hard work before you can start earning handsome amount from your domain flipping business. While searching for the tips, you will also come across some experts who are writing off domain flipping business for quite some time, but if domains were that insignificant, we wouldn’t have seen businesses dishing out millions in a bid to acquire the new gTLDs. The thing is, it is certainly not that easy to make money by domain flipping, but to say that domain flipping is dead as a money making method, is wide of the mark.
There are three integral stages of a successful domain flipping, choosing the domains, pricing, and marketing, and following are some tips to help you with each of these stages.
Stage 1 – Choosing the Right Domain Names
- You need to be good at keyword research; there are a number of freely available tools to help you with keyword research including Google Adwords keyword tool, Google suggestions, and the likes. You can also go for a premium tool but that is not necessary
- You should be familiar with the basics of SE optimization and the general recommendations for choosing the right domain
- You should be looking for the most preferred TLD (.com), remember we are expecting a plethora of new domains after the introduction of branded domains, but .com will continue to be the most preferred one for quite some time to come
- The shorter, the better, try to book shorter domain names because they are easy to remember, also avoid hyphens unless there’s an exact key phrase for the taking
- Keep tabs on rising trends, some of the most profitable domain flipping sales were results of futuristic thinking. Talking of the trends, you need to think in terms of years, not months.
- Avoid buying risky domains, for example getting domains that might infringe a trademark
- Don’t buy domains in bulk, if you are just starting, start small and try to learn the nitty-gritty of the business, try to make a couple of profitable sales before you start investing more time and money
- Try going for domains that cater a niche that you are familiar with, it’ll be easy to brainstorm for the ideas, and to foresee a trend
Stage 2 – Pricing:
- There’s no simple modus operandi when it comes to pricing your domain, amongst other factors, the price will largely depend on how quickly you need to flip a domain and at how much profit, the price shouldn’t be too high to put off small businesses, but it should be enough to result in a profit after adding the marketing cost
- You can start from pricing a new domain higher, but in case you are holding a domain name for quite some time and it doesn’t seem to be catching the interest of anybody (in other words you are not getting any offers), you should lessen the price
- If you have managed to get your hands on short and catchy domains, you can keep the price higher; because the chances are that you will come across an interested buyer sooner than later, since short and catchy domains are hard to find these days
- Similarly, if the domain name consists of an exact keyword or key phrase, having good search volume, you can put a reasonable price tag and wait for the buyer to come
Stage 3 – Marketing:
- Marketing will play a very important role in the success or failure of your domain flipping business, and you must make the most of all available mediums
- Start your own domain website where you can put the domains for sale, you can add a blog and write interesting posts to attract potential buyers
- Start contributing on relevant forums or communities (or have someone else to do it for you) with your website link in the signature
- Consider creating a website and doing site flipping instead of domain flipping, having a website with some PR and some traffic coming from search engines can result in a lot more profits as compared to selling a domain name
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