Buying and selling domains is a great way to make money online. If you take the right steps, and you have a little bit of luck, you could make thousands on the right domain. Add that up a few dozen or a few hundred times and you could become very, very wealthy indeed.
Sometimes you can get lucky and just buy a domain and turn around and sell it for a profit. But, in most cases, you will need to take proactive measures to get the most you can when selling your domain. Here are a few tips:
A lot of buyers park a domain and sell advertising on it while they are waiting to sell it. However, if you add content to the site, you will increase its value exponentially. You don’t have to create an elaborate site, but if you add a few articles or a mock-up of what the site could be, you will showcase its potential for buyers and you will increase its value. If you add quality content and work on SEO for the site, you can also increase its page rank, which will greatly increase its value, as well.
Promote It on Multiple Sites
Listing your site for sale is one step in the process. In order to get the most potential buyers for your site, you need to promote it far and wide. That means listing it on multiple websites that sell domains to start, and then promoting it on other websites, as well. You can advertise its sale status in relevant blogs, forums and message boards. You can create your own page with domains listed for sale. You can also promote it on your other sites.
Market It on Social Media
Social media is a powerful marketing tool if you use it correctly. You have the potential to reach millions of users, which greatly increases your potential sales. Promote the sale of your domains on social media, and be sure to use proper hashtags and keywords to get your posts noticed by the right customers. The more you are able to do to promote your site, the greater your potential for commanding a higher sales price.
Promote It to End Users
End users are those who will want your domain to host their own content. These are not people who are interested in flipping the domain. They want to create a site and build a brand around the domain. By promoting your site to these users, you are connecting with highly motivated potential customers.
For example, if you own www.moneybags.com, you might try to sell the site to financial advisors, wealth coaches, entrepreneurs, investors, or more. Brainstorm who might want your domain and find ways to connect with those users to promote your site.
Selling domains can be a lucrative enterprise if you are lucky enough to find some great domains and if you take the right steps to add value to that site and to promote it well. These strategies can help you to get the most out of your domains when you sell them, helping you to build a strong passive income.
Do you buy and sell domains? Share your tips for success in the comments!
Sarah Clare is a writer and oversees the site projectmanagementsoftware.com, where she has recently been researching time tracking software. In her spare time, Sarah enjoys cooking and scrapbooking.