If you want to earn from the various opportunities the internet has opened up for entrepreneurs, you can consider buying and selling domain names. Domain names are a critical element of a website and a valuable search and marketing tool for website owners. Because of their multiple benefits, they are vital and valuable assets for businesses. No wonder many businesses are willing to pay handsomely for the domain name of their choice.
Benefits of a Strong Domain Name
A compelling domain name provides essential visibility to your brand, helping create awareness and attract customers, very much like the storefront of a retail outlet. A strong domain name also helps to boost the search engine ranking, especially when you post high-quality content to improve the website’s stickiness. In addition to telling potential customers what the business is about, a good domain name adds credibility to your business and fosters trust. Fundamentally, it distinguishes your website from the millions it has to contend with for customer attention. According to Forbes, businesses consider exact-match domain names extremely valuable.
Steps to Sell Domain Names
Own valuable domain names: The first step to earning from selling domain names is to own domain names that represent good value to others. These domain names may be ones you no longer need or discover by conducting an online search. Alternatively, you can buy them cheaply at an auction or a domain marketplace. You must try to acquire domain names that make it easy for businesses to brand themselves. Good domain names are usually short, crisp, memorable, and easy to spell and pronounce. While dot com is still among the most preferred top-level domain, there is a good business opportunity in buying domain names with other TLDs.
Be patient: It may often not be possible to sell a domain name immediately after you buy it. You can try to make the sale quicker by marketing it to businesses you think will find the domain name attractive enough to pick it up at a premium for its long-term benefits. Some domain names may take a long time to sell, and some may not find buyers.
Sell by yourself: One way to sell domain names is to do everything from marketing to negotiating and setting up a payment method by yourself without the intervention of a domain registrar. You can also look around for potential customers and sell the domain names privately. The best way is to set up an attractive website and optimize it for Google search using the available domain names as target keywords so that customers can discover them easily online.
Use a domain registrar: Alternatively, you can sell the domain names on a registrar’s website. The process is simple and convenient because you can benefit from the registrar’s traffic and marketing ability. However, the convenience will usually come at a hefty price. You can also list your domain names with a domain name broker.
Running a domain name sales business does not require much more than elementary technical competence. The success depends entirely on your ability to spot available domain names with potential and find the customers willing to purchase them at a profit.