In this article, I will be discussing about how you can make money online by parking and selling new or expired domains. This is also one of the coolest ways to make money online. So if you have been looking for cool ways to make money online, sit tight as I reveal the secrets to you.
This article focuses on how to make money online with NEW and EXPIRED domain names. I still wonder why a lot of people spend hours online every day with their different devices; phones and computers, doing nothing, when they could be making money with them. This is 25th century, believe me, one of the easiest ways to make money these days is online, you can quote me anywhere.
Like my friend would say, “If you ain’t making money you ain’t making sense.” Now let’s learn how to make some money.
Before we delve into learning how to make money in this platform, there are some terms you need to know.
What is a domain name?
Domain name is an online real estate. If you want to set up a website for either personal or business purpose, then you must first acquire a domain name. Just like when you want to build a house, what is the first thing you’d acquire? Land of course. Without land there’ll be no house. So, you’ll buy a land first, before you can go into sketching the design, digging foundation, and hiring constructional engineers to build up your sketch for you. The same thing goes for domain, without a domain name, there will be no website. In other words, without a domain name, there will be nothing like Facebook, twitter, email address etc.
How do I make money from this?
Hey! Slow down friend, we’ll get down to that. Good domain names are difficult to get these days, they have all been taken. Good domain names with just 3 letters, four or five letter words are very rare to find these days in the domain market places. You can go to Godaddy or namecheap to see for yourself. You can spend a whole week, looking for a good domain name, and you might not be able to get one. So, the best way to get a good domain names is to target expired ones.
What is expired domain name?
These are domain names that the original owners fail to renew. Every domain has expiration date. The minimum time-frame for every domain registration is one year, while the maximum is 10 years. Now, let’s use Facebook as an example, if Mark Zuckerberg (the owner of Facebook) or the Facebook team fails to renew the domain name “facebook.com” after it expires, a period of two weeks of grace will be given to them, after which the domain will be dropped and become officially available for anyone to re-register. Now, that is an example of an expired domain.
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What is domain parking?
Domain parking means submitting your domain to a parking company, and in return they will put ads all over the domain and make it look like a real website. Now whenever somebody visits the domain and clicks any of the ads, the domain owner earns a commission (certain percentage of money). That is how it works. And it is totally free to park any domain. All you have to do is just to buy a domain name from one of these domain companies; which will cost between $9 to $12, park it and earn money.
These are some of the trusted and recommended places to buy domain names:
Godaddy.com, Namecheap.com, Bluehost.com, iPage.com, 1and1.com, InMotionHosting.com, Hostgator.com and Name.com
Although not all domains will earn you money. There are certain qualities to consider in a domain if you tend to park or sell it.
Qualities to consider when parking a domain name
- COST PER CLICK: If you truly want to make money through parking, then you must consider this. For example, if you park a domain that has $0.0, you’re likely to get nothing out of it. But if the CPC is $4, commission will be given to you every month ending, as long as the domain has traffic.
- TRAFFIC: Traffic plays a very important role in any website performance. For example, a domain that has a rich CPC, but has a poor traffic may not generate a high parking revenue. so pay attention to traffic.
How to make money by parking and selling of domain names
Parking a domain is a business while selling a domain is an investment. Sometimes, you can sell a domain within the period of 7 days, while most times it takes weeks or even months (depending on the domain). The good thing is that domain value appreciates every single day, just like a landed property.
If you are a newbie, I strongly recommend that you start small. You can start with 3 domains first, then when you start seeing results you’ll be motivated to invest more. The price of “.com” domain ranges from $9 to $12, and if you use a coupon code the price will be reduced further.
- Do a thorough research and buy a rich expired domain name.
- Park it and list it for sale.
- While it is pending to be sold, you’ll be making money from it.
How to price and sell your domain name
Before you list your domain for sale, first, set a price for it. Do some research to know how much your domain is worth. You can do this by studying related domain sale in terms of keywords. Like I said earlier, selling domain sometimes takes time (although, it depends on the type of domain), so, make sure that whenever you have the opportunity to grab a bull by the horn, you do it dauntlessly. What am I trying to say? Don’t underestimate your domain by giving it a paltry price tag. Some domains are sold tons of thousands of dollars, in marketplaces on daily basis.
Types of domains to buy
- One word domain name is very good for business. E.g. house.com
- Two word domains are also good for business. E.g. housemaintenance.com
- Stick with English language – buy only domains in English language.
- Easy to write and remember – Buy domains that are easy to write and remember.
- Products or service domains: Buy domains that are likely to be used by companies. For example; carfactory.com, cardepot.com
- Three word domain names are also good for business. E.g. Carserviceunit.com
- Always go for domains with “.com” extension. It is the most profitable, and quite easy to sell compare to other extensions: .net, .io, .xyz, .co, etc.
Types of domains you must not buy
As a newbie, you have to take this part serious, because this is usually where the mistake of most beginners starts.
Note: Not all domains can fetch you money if you’re using the parking strategy. Some domains cannot be sold, while others are very difficult to sell.
As a newbie, these are the type of domains you must not buy;
- Long domains: Stay away from long domain names. For example, learnhowtomakemoneyonline.com, in this type of domain, your visitors will find it tiring to type, and might end up making mistakes which will frustrate them and compel them to look for other competing websites. And come to think of it, who would want to buy a domain name as long as this for a good amount of money?
- Hyphen domains: This type of domain is very difficult to sale, so stay away from it. For example, Grass-roots.com
- Extension – Do not register domains with unpopular extensions like: “.io” “.xyz” etc.
- Number and letters: Do not buy domains with letters and numbers, they’re not good for business. Either go for letters or numbers separately.
- Language – Do not buy domain in other languages. Buy domains only in English.
Read Also: MAKE MONEY BY SELLING PHOTOS ONLINE
Where to park domain names
There are numerous parking companies out there where you can park a domain and put it up for sale. However, I’ll strongly recommend that you start with these companies:
#1. Bodis.com, #2. Voodoo.com, #3. DomainSponsor.com, #4. ParkingCrew.com, #5. RookMedia.net
How to park domain names
Go to any of the aforementioned websites and sign up, it is free. After signing up, activate your account using the email link that will be sent to you. After successfully activating your account, login and click on “add domains.” After adding your domain, it will be listed (not parked yet). Now in order to successfully park and enable ads to start displaying on it, go back to where you registered your domain, e.g. namecheap.com godaddy, etc. and change the nameservers to the parking company’s nameservers. Note: In the process, verification of ownership will be required, and if the information looks the same, then your domain will be fully parked. Ads will start showing all over your domain, and it will look just like a website. See example below:
Always put your doamin in different marketplaces
- First, put a price tag on your domain
- Hang a sale sign
- Select the right marketplaces such as: Godaddy.com, afternic.com, undeveloped.com, Domainnamesales.com, namecheap.com etc.