5 Reasons Why You Might Not Be Making Money Domaining
What is the #1 goal of almost any domainer? Making money. Of course, domaining is fun but spending thousands of dollars on domain names only to see them not bring in any cash flow or to not turn a profit when resold can take the air out of the sails of even the most happy go lucky domainer. Here are 5 reasons why you might not be making any money domaining:
#1 You Buy Domains Without a Clear Monetization Strategy
Domain monetization is really pretty simple in concept when you boil it all down. You can make a profit as a domainer when you buy a domain name and it brings in a steady cash flow through any number of different ways (parking, affiliate programs, advertisements, selling a product/service, etc.) or you can sell the domain for a price greater than you purchased it for.
Of course there are thousands upon thousands of different sub avenues to pursue once you choose one of the two monetization methods but for the most part those two avenues are all you have.
You can fail very easily in your domaining money making efforts if you just snap up domain names without at least first giving thought to how you will be able to monetize the domain names.
#2 You Aren’t Willing to Do the Necessary Domain Name Research
You must have a handle on the different metrics that you can use to research any given domain name and determine how much it is worth. Our domain name tools will save you a lot of time and do a lot of the heavy lifting for you (especially if you are a premium member and can schedule personalized domain alerts for yourself).
You must understand how having a domain name that matches specific keywords phrases that get searched in Google is valued. Our Type-In Traffic Finder and our Keyword Domain Repository can help you find domain names that are exact matches to keywords with search traffic in Google.
You must understand how data from Google, Yahoo, Alexa, Compete, and other sources all can help you in your research to find a great domain name. Our All-In-One Domain Auction Tool can help you make this kind of research a snap.
#3 You Are Not Willing to Invest in Yourself
Let’s say that you find a piece of software that will save you a lot of time and money (maybe like any number of the different pieces of software that I recommended in an earlier post “Do You Make These 7 Mistakes When Developing Your Domains?”).
If you are not willing to invest in yourself and your domaining business to constantly learn new things and learn how to do things better and faster then you most likely will be left behind at some point.
Realize that you do not know it all. Invest in yourself to learn as much as you possibly can. This investment can be in the form of software, our premium membership (where we will very soon be releasing premium members only domain development training tutorials and custom domain development services), or even just business books to help yourself run your domaining business better.
#4 You Don’t Follow Through
When you find a great domain name to buy and you either buy the domain name or bid on the domain name and then have the wining bid on the domain then it is definitely a high.
It’s easy to be excited about developing the domain name or even flipping the domain name for a resale profit during the initial rush. It’s sometimes much harder to stay excited weeks or months down the road when the monotony of writing good solid content or emailing potential buyers sets in.
If you have a problem following through with your plans for domaining profit then you are most likely leaving a lot of money on the table.
#5 You Don’t Pull the Trigger
You can do all of the research you want, read every news article on domaining, and use all of the domain name tools on our dashboard until you are blue in face but if you don’t take a risk and pull the trigger then you won’t make a penny. Take action and get started finding some great domain names now!
- How to Make Money as a Domainer
- How to Make Money as a Domain Investor
- How to Flip Domain Names
- How to Monetize Domain Names