Many people were asking me about flipping domains and a guide to make money from it. So today we’re going to learn about this strategy because many of my mentees are making $2000+ per month with this method and you can do it too because it’s really easy. So let’s get started…
A Beginners Guide To Successfully Make Money With Domaining
Buying and selling of domains is volatile in nature but it’s a huge business in the digital marketplace. All you need to do is thoroughly Google about the concept of “Domaining or Domain Flipping” and dig in through the intricate details. There is plenty of information about the subject for you to explore.
So, what is the big deal with the entire concept of domaining? Why is it so famous? You all must have come across stories of many individuals who sell domains and make a lot of profit. Well, it is not unrealistic if you go about it right. People sold these domain names and earn millions of dollars and believe me, most of these stories are actually true.
Let us take a look at some domain sales belonging to a high profile bracket from the past 10 years :-
A. Insurance.com — A quotation site for insurance — Sold in 2010 for $35.6 million
B. PrivateJet.com — A booking service for private jets — Sold in 2012 for $30.1 million
C. Hotels.com — A famous website for hotel deals — Sold in 2001 for $11 million
D. FB.com — This Website sold for $8.5 Million to Facebook.
E. iCloud.com — This Website sold to Apple in 2011 for $6 million.
F. IG.com — A stock trading website — Sold in 2013 for $4.7 million.
G. Whisky.com — An informative website — Sold in 2014 for $3.1 million.
Not Lets See Latest (Past 24 Hours) Flippa Listings With Current Bidding Prices For These 5 Domains :-
A. ABR.net – $400+ – https://flippa.com/9974477-abr-net
B. CarTransportationServices.com – $105+ – https://flippa.com/9997460-cartransportationservices-com
C. WebsiteChecker.com – $110+ – https://flippa.com/9989779-websitechecker-com
D. YouConvert.com – $295+ – https://flippa.com/9977483-youconvert-com
E. Mab.io – $175+ – https://flippa.com/9977459-mab-io
You can see on Flippa that a majority of individuals (Domainers) are selling domains for xxx digits on Flippa. If you manage to sell approximately 5-6 domains in a month for $200 – $500, then it is going to be easy for you to make $ 2000 or even more!
Flippa Marketplace – Domain Statistics
1. More than 400,000+ users have registered on Flippa to buy or sell domains till date.
2. You might find it a little hard to believe but every single minute, someone places a bid on a Flippa auction. Sounds crazy, doesn’t it?
3. In the previous 7 days, the platform has generated $711,352 with the sales of domains.
4. Within just 5 years from 2009 to 2014, more than $122,039,671 have been sold on Flippa. That is correct! $122+ million USD has been going and coming around in different hands with the sales and purchase of domains names on this marketplace.
So, I hope now you have a solid understanding of how it is like to earn your livelihood by selling domains. Most successful domainers have been buying and selling domains for years and it is actually their full-time career and a massive source of income.null
Type of Domainers
The industry comprises mainly two types of domainers. Let’s take a look.
1. People who buy domains and sell them immediately for a profit. Their intention is to gain monetary benefits as quickly as possible.
2. The second category is the people who practice domain flipping. This means that they buy domains and their intention is not to earn an immediate profit. Rather, they make sure that they get the domain developed and then sell it for a profit.
How Beginners Can Make Promising Monthly Income By Domaining – A Step By Step Guide
There are many individuals in online world suffering from the whims of outbound marketing or email marketing. Sometimes they also complain that they can’t make enough sales with inbound methods of marketing.
Geo/keyword domains with 3 words don’t have fair odds of sales in the marketplaces. However, you can sell them with outbound strategies.
Although, make sure you follow all the steps and practice the correct strategies.
Take A Look At Some Basic Stats…
1. It won’t be an overstatement to say that outbound is basically a volume game. There are chances that your first 5 domains might not receive a positive response. But then, to your dismay, you might even end up selling the 6th domain for $500 or more! The unpredictability factor here is overwhelming as well as exciting.
2. One of the major factors that play an important role in this field is the price. For regular geo domains, you can consider $200-$500 to be the sweet spot.
3. If you are working with Geo/keyword domains, you should know that good metrics of a domain promotes a comparatively easier sales. CPA and monthly searches are crucial aspects that sellers need to take into account.
4. Selling a domain via mail is not merely about writing a catchy language and expecting for a miracle to happen. You are not likely to generate a sales via your first mail itself. Thus, do not deny the importance of follow up mails as they remind your potential buyers that they are leaving something out.
5. Niche is another important factor that plays a crucial role in determining the sales of a domain. certain niches tend to draw more sales than others. Location such as the city, state or a country are also determining factors.
Getting Back To The Outbound Process of Selling Domains (Very Important)
Step – 1. Finding a Lead – Let us take a look at the 5 primary ways to find clients or leads for your domain.
A) Google.com – Look for companies that are currently ranking for the desired keyword. Use the SeoQuake plugin to avoid manual work as it generates the first 100 Google results in an excel file.
B) Google Map/Yellow-pages – If you want to check out the companies in a particular area that are using the keyword, then Google maps are better than google.com. There are tools that generate location wise accurate results.
C) ZFbot.com/Domainiq.com – These are the tools that will provide a list of similar domains as yours or domains with the same keyword.
D) Social Media – Social media platforms such as LinkedIn can turn out to be great sources for finding potential leads.
E) Advertisers – Get in touch with advertisers who are advertising your domain related keywords. You can also use SEMrush to generate an entire list.
Step – 2. Finding Email Ids – There are 3 easy way to find out the email ids of the potential leads.
A) Whois.com/whoxy.com – If you wish to fetch whois details, whoxy.com is a good option. Even though all the information is not easily available anymore, it is likely that you find the Email IDs in about 20-30% of the cases.
B) Hunter.io/Adapt.io – Paid tools like this aid in finding email ids. However, the accuracy accounts up to 70-80% despite being paid tools.
C) Website – You can collect an email id by directly visiting a website.
Step – 3. Sending out E-mails – Due to the strict spam policies of free email providers like Yahoo and Gmail, it is likely that your mail ends up in the spam folder of the receiver. To combat the losses here, let us look at some options.
A) Free email providers – Creating multiple email ids with Outlook, Yahoo, Gmail, and other free e-mail providers can prove to be effective.
B) LogicBoxes panel based registrar – There are some registrar which uses logic-box panel and they provide upto 2 free email id along with every domain. You have to set up email id there and use their servers to send emails. It really works like charm.
C) Your own server – In order to send emails, you can purchase different Elite IPs and set up your SMTP server. Although the approach is not feasible for beginners as it is complicated and bit expensive.
Step – 4. Pricing & Follow up – Pricing and follow ups will play a very big role.
A) Pricing – As far as EMD (Exact Match Domains) and Geo domains are considered, pricing plays an important role. The $200-$500 range is great to make quick sales. Moreover, if the domain is purchased from GoDaddy or is hand registered, your profit will be really nice.
B) Followup – There are 2 types of follow-ups.
1) Initial Email – A follow up is necessary after the First mail as sometimes it goes unnoticed. If you have collected 50 leads and a response from 1 or 2 of them, send a follow-up email. Remember not to send it twice as then it would be considered spamming. Never mail a person who has responded in a ‘No’ again.
2) Price inquiry – Out of 50 leads, suppose 3-4 people sent a price inquiry. If they don’t respond for a while after you provide all the details, send a follow-up email. Usually, a deal is done within 3 follow-up emails. Sometimes people closed the deals immediately after your first email if you do your research right.
Step – 5. Closing the deal – Basically, there are 3 main options for closing a deal.
A) Paypal – Send a Paypal invoice and collect your payment from the client. I prefer transferring the domain before asking for the payment from the client. Since in this case, the amount is a xxx figure. The risk factor is low. This creates trust in the eyes of the client and helps in the quick closure of the deal.
B) Escrow – You can ask the client to complete the transaction after you create your escrow account. Be aware of the fact that this process is a bit tedious and the clients don’t want to stay engaged for long. It is a wise move to use escrow only for transactions that involve hefty amounts like XXXX or XXXXX deals. Beginners dealing in xxx figures need not adopt this approach while closing a deal.
C) Marketplace – Flippa or Undeveloped.com are some of the popular marketplaces you can use to complete a transaction if you have purchased the domain from GoDaddy. The high trust of the public on these platforms can work in your favor.
Here Are Some Of My Personal Suggestions For Outbound Strategy.
1. Registrar – GoDaddy has a massive campaign for advertising and is thus, the most popular registrar. It is easy to make sales if GoDaddy is your registrar. Most users already have a GoDaddy account. Even if they don’t, no one minds creating one. If you are using another registrar make sure that the 60 days lock period is over before making a deal.
2. Response time – XXX deals are spontaneous and normally have a quick closing time. If you strike one, make sure you close it immediately without giving the user a chance to look for alternatives. If you delay, they might change their minds.
3. Calling – Call your client in case they raise a price inquiry. Calling is more impactful than a mail.
4. Promo offer – If hand registration is your game, look out for promotional offers. If you can get one at $1 then it’s a win-win situation.
5. Expireddomains.net – The daily drop list contains plenty of expired domains every day. You can easily sell them with the help of the outbound (Email) strategy at XXX range.
Last but not the least, Outbounding is an amazing way to earn $2,000+ every month. Although newbies need to understand the difference between marketing and spamming.
If you are new to domaining, then follow the above-mentioned guidelines of domaining to increase your chances of success.
If there’s anything you think I’ve missed – talk to me in the comments section below!
Like This Post? Share It With Your Friends! And For More Tips On How To Make Passive Income Online, Make Sure You Check Out The Following Posts…