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How to Make Money Using Domain Names – 10 Useful Tips

Open Data Challenge Series – Energy & environment creation weekend
how to make money
Image by OpenDataInstitute
How can we use open data to develop services that support communities to buy cheaper energy, use it more efficiently or potentially make their own?

This challenge invited teams including businesses, startups, social enterprises, community groups, academics, students and special interest groups to collaborate and compete with each other to use open data to build services that support communities to either:

– Group buy their energy and save money;

– Undertake community based energy efficiency interventions;

– Start to generate their own energy.

Not many people know that it is possible to make money with domain names. It entails some risk and has a relatively low success rate. However with some had work, determination and the use of these quick tips, you will be able to make considerable money using domain names.

1. First of all, you have to do some research to find out what is selling hot in the market, and its going rates. Visit some famous domain resale and discussion sites to find out some information on the names that have already been sold by members, and for their respective amounts. There are also quite a few forums that provide you with information about domains and their going rates.

2. The next tip involves picking the right name. Preferably, choose a short and simple name with as few words as possible without spaces or separations in between the domain name words. Where possible buy.com domains and use names that belong to the generic product category of the product you sell.

3. Use the help of keyword suggestion tool to track the popularity of some search terms and also tells you if your chosen domain is a highly indexed and popular keyword.

4. Many registrars offer a domain hunting tool to use to find if your chosen domain name is available.

5. Choose the right registrar for buying domains. The cheapest option is not always the best option; choose one that offers good support to answer any queries that you may have. The registrar should also offer easy transfer of names to avoid delays when you resell the domain.

6. Look for discounts in domain related forums so that you save more money buying domains.

7. Decide on a favorable rate for your domain as there is no real market for it. Like anything else in business, its rate depends on availability and demand. Look at past sales to see the rates other names are being transferred at, you could get a free appraisal for a rough estimate or get professional appraisals if you are dealing with big money domain names.

8. While you wait for a buyer, you can either develop the site by adding some content to it or just park it wherein an instant page of advertising listing is created. You can earn some money while waiting to resell your name by visitors clicking on the ads you place on the site.

9. Don’t forget to advertise and let people know you are selling domain names. Place postings in domain forums and with domain reselling specialists while describing the domain and why it’s worth its rate.

10. Once you find prospective clients, learn to negotiate the deal with the right rates. It’s better not to wait till the domain expiry to lower prices as it makes you look desperate to renew it.

Last, but not least, while selling domain names, it’s better to confirm your payment terms before transferring. Use escrow services as though they serve commission, you know your money transfer is safe. With the help of these tips, you find choosing, buying and selling domain names to be an easy process.

 

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