Every year, more and more businesses go online, and new online businesses are launched. In a crowded market, it is difficult to stand out, and having a strong domain name has never been more important. Competition for the best domain names is fierce, with prices reaching $20,000 or more. Carinsurance.com sold for $50 million in 2010 and Facebook paid $8.5 million for fb.com.

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The coronavirus pandemic has not only seen an increase in online businesses, but also a rush to secure domain names linked to the virus.

Investing in domain names

If you are interested in making money from buying and selling domain names, there are lots of opportunities to do this. If you already own a sought-after name, you could potentially have made a good investment, but don’t assume it is just the name that makes it valuable; there are also other considerations.

First, always try to secure the .com as this is the most-sought after extension. Also, the keyword can play a crucial part in the names value.

The Website

Once you have secured a good name, make sure the associated website is also strong as this is what will ultimately bring in business and add value to the name. You will also need to secure a good web hosting provider from companies such as https://www.names.co.uk/web-hosting.

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Social Media

Make sure you register social media pages with a version of the name. This means that not only will people be able to find and follow you easily, but it will also raise your profile, your online presence, and the value of the name.

Secure other domains

Depending on your budget, it is also worth considering buying domain names that are similar to yours, even if you don’t plan on using them. This not only stops customers from going to the wrong site, but it also helps when it comes to selling your domain name because you can sell it as a package. This will appeal to the buyer because it saves them time and money.

Be Patient

If you are hoping to sell your domain name, this is straightforward and can be very rewarding, but be patient and wait until the right time to sell. There may not be a ‘right’ time, but make sure you are ready for when an offer comes your way.