WHAT IS A DOMAIN NAME?
Domain names are created to make internet protocol or IP addresses more human friendly. An IP address is a set of numbers assigned to every computer on the web IP addresses work like street addresses, they identify a computers location on the web and help route information so we can easily travel between computers. However, IP addresses are unique, long, and look like random strings of numbers. Asking a mere mortal to memorize and type in an IP address for every site they want to visit is kind of unrealistic. This is where domains come in. While computers require IP addresses to locate one another, we humans can use a domain name, say like GoDaddy.com, instead.
The Domain Name System, or DMS, takes these domains like GoDaddy.com, and translates them into IP addresses that computers need to communicate. So instead of 18.104.22.1687, we can simply remember GoDaddy.com. Much easier, right? When someone enters your domain name into a web browser, the browser then uses your domain name to find the correct IP address and passes back the website associated with it.
Domain name is basically your identity on the internet and as such it’s an important asset and a valuable piece of Internet real estate. So, by registering your domain name you’re protecting your business or your ideas by ensuring that nobody else can register them and registering a domain name is quick and easy, there’s no paperwork required. Domain names are issued on a first-come first-served basis so anybody can register them and when you register your domain name it’s registered in your name.
Domain flipping means that you buy a domain at very low price, and then sell this domain further to interested party for more price than you paid for that domain. This practice earns you high profits with little investment. Domain flipping is a great way to make money online because it doesn’t require expensive upfront costs to get started with and you don’t have to build a huge audience so you don’t need a huge following on either Facebook, Instagram or YouTube. You can get started today for a small tiny investment and you can get up and running today.
HOW TO MAKE MONEY BY DOMAIN NAMES?
So, domain name is like real estate of internet, but the land is replaced by website. So, just like the land, buying and selling of domain names can be a very profitable business. Buying and selling domain names, for a lot of people, is really an exciting adventure. There are so many stories of people that have purchased a domain name for like eight or ten dollars and now selling them for hundreds or thousands of dollars. So, for those of you that are a little bit more adventurous here’s five tried and true tips to help you sell domain names for a profit.
1. The first step to selling domain names for profit is to narrow your focus. Now what that means is, there are already millions of domain names out there. Purchased already with endless combinations of extensions like .app, “. club”, “. wtf”. And be sure whenever you’re starting your search, start with an industry or a field that you’re really familiar with. Because if you know that that domain name is going to be valuable to them, then it’s a lot more likely to sell. You can even look up keywords using things like Keyword Planner or Google Trends to see what might actually be popular and what isn’t.
2. The second step is to find domain names that actually offer some real value to those potential customers. Now put yourself in their shoes, if you were actually looking for a domain name, and you worked in that industry, what domain name would you want and which one would be valuable to you?
3. The next step is evaluating the price. So, you already have your domain name that you want in mind, how do you know that it’s a fair price though? So, domain name buying and selling is pretty relative. But there are a couple free tools that you can use to help you just evaluate the price. Starting with GoDaddy’s domain value appraisal. Now, this is a free tool to give you, basically, a rough estimate of what this domain name is worth.
4. So, there are services like domain brokers out there that you can use, that’ll contact whoever is selling name, and try to make a deal. They might sell it cheaper just to get it off their plate. And they’re still making that profit, and you can market it for a little bit less money.
5. Finally, our last tip is to get your domain name front and center. So, there are a lot of different ways that you can get your domain name out in front of the buying public. So, whatever domain auctions you use make sure that your domain will actually be seen.
Now it’s important to remember that there’s always going to be a learning curve when it comes to, you know, buying and selling domain names for a profit. Do some research. There’s the GoDaddy auctions team or aftermarket team that you could call and ask questions. Just use your resources, keep up with those industry trends, and make sure that you’re investing your money in something that will actually make sense in the long term. That’s how you buy and sell domains to earn money.