On Wordpress alone, there are over 409 million people viewing more than 14.4 billion pages each month. That number is growing so quick it’s almost impossible to determine exactly how many domains and websites are in existence.
Apart from content, what sets apart a great website from the rest is the domain name. Big money is poured into SEO marketing strategies to boost the ranking of a domain/website in Google search. The more common and popular a domain name is, the less promotion it requires. A well chosen domain name promotes itself.
One of the first steps a company looking to launch online takes is creating an effective domain name. Anyone who’s done a search on a domain name registry knows it’s incredibly hard to find a great domain name that’s not taken. As a result, many companies will pay to take ownership of a great domain name.
There are certainly opportunities to create wealth from creating and selling domain names. To get started, here are five essentials you need to know when you create your domain name.
1. Use Two or Three Words
It’ll be almost impossible to find a domain name that’s one single word. The chances are similar to winning the lottery. The next best options are domain names that are two and three words long. Remember, you are looking for words that are iconic, catchy, popular, and easy to remember.
2. Stick to “.COM” Domains
There are plenty of extensions available: “.ORG,” “.NET,” “.CO.” As of June 2013, there are 110 million .COM, 15 million .NET and 10 million .ORG domains on the web.
The majority will give you the most exposure, and more exposure means more value. .COM is still, and will continue to be the most widely recognised—by a great margin. So stick to .COM when you are searching for your domain name.
3. Careful of Copywrites
You’ll be tempted to create a domain name that includes a term already in use by a large company to build off their audience. There are some companies that will not mind the use of their company name in your domain. Others will be quick to send you legal instructions to remove your domain name. Better safe than sorry—send the company an email to notify them of your intentions.
4. Create a Landing Page
In order to increase the presence and exposure of your domain name, create a simple landing page for your domain. This can easily be done through downloading a free theme and putting some very basic content up. Be sure to include your contact details and a banner or text advertising the domain for sale.
5. No Privacy
When purchasing a domain name you’ll have the option to purchase a privacy option which hides your "WHOIS" (domain ownership record) information. Obviously, if you are looking to sell the domain, you’ll want your contact details displayed rather than hidden. Do not choose the privacy option.
On selling your domain, here are 3 things to consider:
1. Determining Your Price.
Have a search around on the recommended sites listed below to determine a realistic price to sell your domain for. One of the major factors will be how many searches are done online for the specific words in your domain name. Having your landing page will help with determining the statistics for that.
2. Domain Brokers.
If you have found a domain name that you feel is a gold mine, than you may want to hire a domain broker to do all the work for you. Of course, they will take a percentage, but if you are dealing with $5000+ it will be not be a significant amount. They will also have the networks and relationships that you do not. Here are a couple of recommended domain brokers:
3. Escrow Service.
After a successful negotiation and agreement to sell and transfer your domain name, you will want to ensure a legitimate funds transfer through Escrow service. This neutral third party service will make sure the buyer deposits the money before the domain transfer is made.
Finally, here are some sites that will help with creating and selling your domain name: