An online way of earning income. First, we will define what a domain name is and then go through some tips that will help you to start this goldmine business.
What Is a Domain Name?
A domain name is a name of a website's address on the internet. The address of a website consists of numbers. To make it easier for people to surf the internet, websites were given names.
Each name of a website, called a domain name, is unique. A domain name uniquely identifies a certain website. Two websites or more cannot have the same name. Every time you write google.com in your browser, Google's homepage appears in front of you.
How Do You Earn Money from Buying and Selling Domain Names?
There are three steps that you need to follow.
Buying a valuable domain name.
Parking the bought domain name.
Selling the domain name for the estimated new price.
In this article, we will discuss, in details, step one. In the next article, we will further explain last two steps.
HOW TO BUY A DOMAIN NAME?
There a lot of domain names out there. How do you buy a domain name that, for sure, you will be able to sell? What should you do?
Focus on your targeted audience
Decide on the industry that you want to sell and buy domain names for.
Do you want to sell for schools, or a certain type of product or service?
Are you targeting small businesses or large corporations?
Depending on your expertise and knowledge, pick your targeted market.
Do your research?
Understand the market you are targeting. Know its phrases, common words, style and feel. There is a big chance that the targeted industry is searching for names based on those. Generally, a good valuable domain name has certain characteristics.
Is Short Name Better?
People will easily remember a shorter name than a longer one. They will also recall a common word or short phrase.
Common words are in high- demand because they are easy to remember and relatable.
Popular Top-Level Domain (TLD) name
TLD names are names that follow the dot in a website name. Most popular ones are com, org and edu. You should probably stick to those.
Free of misspellings and special characters
Businesses will search for names that don't have misspellings mistakes. People will less likely type or search for a misspelled name.
For example, we are used to writing happy with a double "p". Imagine that there is a website called hapy.com. If someone searches for the website or types its name, they will write it with a double "p".
This will lead to an error page or maybe a different website. Also, avoid names that contain special characters like hyphens. People are used to writing letters only. It will be difficult to pronounce.
A website name is usually a title that is generic of something or someone. It can refer to many things. It can be related to a service, product, a celebrity, an event, or school. Now, it is time to buy a domain name.
Where can you buy one?
How do these websites work?
These websites are auction websites. People bid on a name, and after a certain time, highest bid gets the name. You can search these websites for a name that fits your standards.
You can limit your search by the price range, the industry, and the name's length. That is all what you need to know before buying a domain name.