Exclusive Scoop: Experts Reveal How to Make Money Buying Domain Names
From finance authority Forbes to online news hubs Ananova and Investopedia, experts of finance, business, and the domain industry all agree that making money through buying domain names is a guarantee – it is quite preposterous to ignore such opportunity.
Author of The Ultimate Guide to Making Money on the internet, business savvy Marc Ostrofsky announced domain names as the real estate of the World Wide Web. The author himself attends domain auctions where big names start at a bidding price of $1 million.
Still, this investment opportunity is not exclusive for big companies or investors who can afford such a huge bidding price. The internet has opened doors of equal business opportunities for industry big fish and independent entrepreneurs.
When asked for their take on how to make money by buying domain names, experts reveal certain common denominators to the domain business success formula:
Investing in a Solid Domain Name Portfolio
It is a known fact that a strong domain portfolio can take months – even years to build. The secret of this business is similar to that of other conventional businesses: patience and an uncanny knack for thinking ahead.
Experts reveal that they scout for domain names with a long-term perspective: how the domain will do in the market when future trends are considered. Other name considerations include:
- Geographic Names – experts think globally but they understand that local domain names are a wealth of their own right. Names of specific countries and cities as well as up and coming sites are great investments. These can be sold to local entrepreneurs and even web developers who seek to build local portals and businesses around the communities.
- Generic Names – experts often think from the perspective of the regular internet user that is why domains with generic names continue to be a strong hit. Emerging and new brands and services are also good investments. These domain specialists scout for the latest hype and hottest trends to find out what regular internet users are likely to scour search engines for.
- Business Names – buyers of domains seek out names that represent their service or company in the clearest, most straightforward way possible. This is why domain authorities invest in business-oriented domain names to help professionals and companies zero in on a website name that is likely to come up in the initial pages of Google. A business name joined with a geographic name and domain extension is a powerful combination.
The Basics of Buying and Selling
Many people expect to hear out of this world revelation from experts but most domain authorities emphasize that their success lies mainly in mastering the basics of buying domains. With constant practice and years of observation, they say that the basic aspects of buying domain names for sale are guaranteed to be honed by anyone in a way that is custom-fit for their business.
Setting the Price – most domain sellers prefer to name their own price in the market place. This is especially true for owners holding a large scale domain portfolio who are not in a rush to dispose their virtual assets.
Auctioning – shrewd owners of domain names with high profile and authority prefer auctioning their assets. This method stirs up higher interest among committed parties and usually results in the premier price for the domain.
Making Offers – sharp domain owners and managers make the most of their possession. Just because a domain does not have a high target of prospects does not mean it is not marketable. For less dominant domains names, owners normally make offers well-suited for the kind of niche and market it is relevant with.
Experts say that domain buying is not for the easily discouraged. These specialists have been around the trade for a long time that harvesting ideas from their advice is an exclusive treat.
Posted on: Thursday 11th December 2014, 07:33:12 PM