The business of developing, buying, selling, and monetizing domain names is known as domaining. It is a huge business today, because the search for choice name is becoming harder as more and more businesses get online. The people who specialize in this business are known as domainers, whose occupation is dealing in generic internet domain names.
Below are some of the most common ways of domaining:
- Domain Parking: the monetization of domain names by providing CPC ads or other ads sources from random web visitors is known as domain parking. It is common practise among domainers and registrars to park domains as a source of revenue.
- Typosquatting: also known as URL hijacking, is akin to cybersquatting where the domainer buy domains that resembles those of established brand domains to get traffic, and possibly to sell at a higher price.
- Domain Tasting: is the practice of a registrant using the five-day “grace period” of an ICANN-regulated second level domain to test the profitability of the domain, before asking for a refund
- Speculative Domaining: involves the buying of domain, both unregistered, or for-sale registered domains to make profit from reselling it. Domainers buy domains with believe that they will become more valuable at some point in the future, or based on assumption of the traffic and the potential for the domain.
- Domain Sniping: is the registering of a domain name whose registration has lapsed in the moments after expiry.
If you’re looking to join this rather lucrative business. Here are some guidelines about domaining to help you become a professional domainer.
How to Get Started with Domaining?
Domaining is more like investing in real estate, or buying stocks, but in this case a virtual real estate. It’s profitability is subject to basic forces of supply and demand which could turn domains into something profitable overtime. Getting started with domaining, or the business of buying, selling, and managing domain names, involves understanding the domain industry, conducting research, and making informed decisions. Here’s a step-by-step guide to help you get started with domaining:
Educate Yourself:
- Learn about domain names, the domain registration process, and the Domain Name System (DNS).
- Familiarize yourself with industry terms, such as TLDs (Top-Level Domains), ccTLDs (Country Code Top-Level Domains), and gTLDs (Generic Top-Level Domains).
Market Research:
- Identify popular and valuable keywords relevant to your interests or industry.
- Research domain sales and prices to understand market trends. Websites like NameBio and DNJournal provide historical sales data.
Choose a Niche:
- Specialize in a specific niche or industry. This could be based on your interests, expertise, or market trends.
- Focusing on a niche allows you to become an expert in that area, making it easier to identify valuable domain names.
Domain Registration:
- Choose a reputable domain registrar to register your domains. Popular registrars include GoDaddy, Namecheap, and Google Domains.
- Look for domain names that are short, memorable, and easy to spell. Avoid trademarked terms.
Portfolio Management:
- Keep track of your domain portfolio using a spreadsheet or specialized domain management tools.
- Set up reminders for domain renewals to avoid losing valuable names.
Marketplaces and Auctions:
- Explore domain marketplaces such as Sedo, Flippa, and Afternic to list your domains for sale.
- Participate in domain auctions to buy and sell domains. Platforms like GoDaddy Auctions and NameJet host regular auctions.
Networking:
- Join domain forums and communities to connect with other domain investors. DNForum and NamePros are popular platforms for discussions and networking.
- Attend domain industry events and conferences to meet professionals and stay updated on industry trends.
Legal Considerations:
- Understand trademark laws and avoid registering domains that infringe on existing trademarks.
- Be aware of the expiration and renewal process for your domains to prevent unintentional loss.
Patience and Strategy:
- Domaining often requires patience. Not all domains will sell quickly, and some may appreciate over time.
- Develop a strategy for buying and selling. Consider factors like market trends, keyword popularity, and potential end-users.
Continuous Learning:
- Stay informed about changes in the domain industry, including new TLD releases and policy updates.
- Adapt your strategy based on market feedback and evolving trends.
Conclusion
Domaining business is a multi-million dollar industry. And because there is huge demand for good and brandable domain names, smart people are always looking out for great domain ideas. If perhaps you want to sell domain name, there are several marketplaces like Sedo, Flippa, Dan, Epik and many others where you can list your domain for sale.
Remember that success in domaining often comes with experience and a keen understanding of market dynamics. It’s essential to stay informed, be patient, and continually refine your approach as you gain more experience in the field.
