The .com domain began on a slow pace on March 15th, 1985, but today, more than 115 million .com domains have been registered. In fact, in 2010, ‘insurance.com’ was sold for $35.6 million which remains the highest domain sale ever. Consequently, if you know how to recognize a name that will be highly demanded in the nearest future, the new generic top-level domains (gTLDs) would offer you great opportunities to become rich.
The domain name regulator, ICANN, introduced new gTLDs into the market in order to expand the growth of the internet. You can now register extensions like .band, .photography, .agency, .club, .boutique, etc. With this new development, a smart entrepreneur can register as many gTLDs as possible with the hope of reselling them in future. This process is referred to as domain flipping and many people have made so much money in this business. However, if you want to succeed in this business, you must be able to identify hot names and register them. After the registration, you will then market them in order to locate buyers.
Keyword research can help you to recognize hot names and Google keyword research tool as well as Wordtracker are the most popular for keyword research. Once you identify lucrative keywords, register them with the new gTLDs and subsequently, market them in order to locate buyers. You can park some or all of the domains so that you can make some money which may be used for their renewal. However, if you decide to park some or all of the names, you must carry out search engine optimization (SEO) for them in order to boost your revenue.
If domain flipping is not lucrative, a lot of people would not be involved in it and a website would not be sold for $35.6 million, as in the case of ‘insurance.com’. Hence, you should act fast to register hot gTLDs before the smart guys register majority of them. The secret of this business is to get a name registered before someone who really needs it will want to register it, then, you can place your price on it. If you can successfully do this for as many names as possible and you are consistent, you will soon join the league of online millionaires.