The Domain Name Megastar: Becoming
Selling domain names for a living is what we all dream about doing, is it not? To quit our day jobs and become professional net address investors is the ultimate dream for a lot of us, if not all of us.
We are here to tell you that it’s possible! Here are the methods, the tactics, the tips and tricks, and the ins and outs that can lead you to become a a profitable and successful domain name investor.
Now, we tend to acquire a lot of domains that our fellow domain investors didn’t know were on the market. So what does it take to find these names?
Well, we tell ourselves this every morning when we wake up “If the billionaires work 19 hours a day, we’re working 20 hours a day”. We try to live by rules like that.
We spend countless hours every day reading blogs, watching videos, getting updated on recent sales reports, sorting through hundreds of thousands of names, researching their stats, comparable sales, comparable unsold names, we speak to my buddies, get opinions and then we acquire my names.
We adopt a 10:1 research to purchase ratio. That means for about every 10 hours of research we do, we acquire 1 domain name. Sometimes, we see a name and don’t even need to research it, we just know (but that comes over time).
For now, research, and research, and research some more!
Starting your Engine
Much like many domain name investors, your first domains will most likely be complete garbage.
Your first set of purchases might be say $2,000 worth of hand registered GoDaddy names and you’ll probably be so excited to start selling these brilliant (actually next to worthless) names that you won’t even do diddly squat research.
DOMAIN NAME UNIVERSAL VALUE
We make an auction account on Flippa, pay the listing fees, write some text on how “premium” the freshly registered names are and wait around hoping someone will see the value. And they just do not. Why?
Because mostly, these is NO VALUE to anyone but yourself.
Read that again. Then read that once again. Therin lies the key, people.
So what makes a domain name valuable? Here’s some clues we’ve found:
To many, the age of the name plays a huge role. They find that more often than not, the older the name, the better the quality, the less gimmicky the name is and Google likes it more.
True? We think the jury’s out on that one.
What IS definitely true is that older domain names gain you access to names that are no longer available and probably more desirable due to their rarity.
But we would certainly look at the keywords within the website name.
- Do they have search volume?
- A high CPC? (considered more desirable)
- A low CPC? (budget use on Adwords)
- Are they brandable?
We do the “radio test “on all of my domain names. If were to advertise this domain on the radio,
- Would it be memorable?
- Would listeners get it right?
- Could they spell it right?
- Do we need to spell it for them over the air?
- How many ways are there to pronounce it?
- How many ways are there to spell it?
Google the keywords. What shows up?
- What kind of businesses are there utilizing these keywords in their content?
- Who is paying for ads for the keywords?
- How much are those ads costing them?
Then move from there to the “if this were our business“ test.
- If this were my business, would we be proud to own the name?
- Would we proudly place it on all my merchandise?
- Would we proudly display it like a badge of honor on Business cards?
- Would we proudly wear it like a badge of honor on a t-shirt?
- Would we tell my children about it?
- Would THEY think it was cool? Then ultimately:
- As a purchaser, would we happily spend $10K advertising this domain name?
If there is even an ounce of hesitation when it comes to answering that question, move on from that web name and never look back.
Always remember, selling a domainname is all about Exposure And Profitability.
Your Selling Outlet
We believe Sedo to be the ultimate platform to sell to other investors. Others may disagree but hey, it’s a free world.
Capturing Hearts And Minds
Selling domain names is like selling a car. If you sell cars, you can’t just sit behind your desk and tell the customer “this is a red car, it’s a premium car, buy it.”
The just expect to run a profitable dealership on auto-pilot!
You have to:
- Take the customer on a journey,
- Involve them in the narrative, and
- Captivate their minds and hearts
You put them in the car, let them drive it. Show them how great it feels, how smooth it rides, all the features it has.
“Can’t you just smell that leather? You can wake up every morning to the scent of “luxury”.
You get them involved, you bring them into the dream and let them live it through you. You make them a daydream believer.
Before you know it, they see what you see, they want what you have.
Not because you made it up, but because you made a believer out of them.
So take them on the journey you took yourself when you took control of the domain name. And the best part is, they keep getting better and better.
The Incentive Offer
Everyone likes incentives! Sometimes people are sitting right on the fence about the car and all it takes is an option or two, or a couple of free oil changes to get them to buy.
So what to do? Offer upgrades gratis. Perhaps more domain names.
Recently, one of our associates auctions was at $6,000 with the reserve met, He added another 20+ names to the auction and sold it within a few hours for $16,000.
Another example, one auction was at $1,998 with the reserve met, he added a few more names and sold it for $4,200. There is always room to extract more by way of offering more.
To make a living from domains, you have to do what others won’t, be better than the rest:
- Offer more data
- Richer descriptions
- More fascinating domain names
- Offers they Can’t Refuse
Make people WANT to buy from you. Make them excited that you have another auction up because they know THIS GUY
- Always adds domains at the end of the auction OR
- Has descriptions so fun and readable OR
- Has the Most Energizing URL’s . . . and so on.
Make them a believer in you, make them trust you and there will be no limit to your success with domain names_nq.