Buying Domain Names for Expected Growth

Elliot Silver
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5

Parking MeterIn the New York Post this morning, I read about a cool new iPhone application that is awaiting approval from Apple called NYC Broken Meters. Users will be able to find broken parking meters in New York City, syncing information provided by the city with GPS mapping. Since NYC allows people to park at broken meters for one hour for free, it’s a handy tool.

The company plans to operate its website on the domain name NYCBrokenMeters.com, which is perfectly fine. However, I do think it would have been smarter of them to buy up other city BrokenMeters.com domain names for future growth. I think this is a neat app, which isn’t limited to one city. If the city of Chicago would release this information the same way as the city of New York, they could easily create Chicago Broken Meters…etc.

People often ask for my opinion on buying extended names like this, and I think this would be a good example of when it’s a good idea. If your company has the ability to easily expand to other areas, even if it’s not quite in the cards yet, I think it’s wise to spend the extra $10/name to buy those other domain names. Whether we’re talking cities, towns, products…etc.

Not only do you risk a competitor taking domain names that could match, but there are others who could register them and make you pay out the nose when you’re ready to move forward. It’s usually just a matter of time before someone else will grab them.

Guest Post: Craig Rowe on Setting Up a Network of Domain Names on WhyPark

Elliot Silver
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4

Elliot contacted me looking to quickly setup 54 long-tail domains on WhyPark relating to real estate agents and home loans in different cities. The objective was to include content relevant to the subject and/or city being targeted, develop new traffic and revenue that doesn’t currently exist on these domains, and generate domain sales leads.

The following is a quick overview of how the domains were setup on the WhyPark platform, followed by some thoughts on how to help these domains attract visitors from related sites and search engines.

Step 1: After logging into Elliot’s WhyPark account, I created the following groups to easily manage the domains:

  • Real Estate Agent
  • Real Estate Agents
  • Mortgages
  • Home Loans

step1

Step 2: I copied each group of names from the list sent and used our “Bulk Add Sites” to quickly add the domains to each group with the same settings. Since one goal is to attract end-user sales, I’ve selected that the domain is for sale. That will automatically add the “for sale” link on each domain and also the inquiry form for buyers to easily contact Elliot.

step2

Step 3: I let the bulk import do its magic for a few minutes while it does the following:

  • Splits the domain names into keyword rich site titles (coralspringsrealestateagents.com to “Coral Springs Real Estate Agents”)
  • Creates keyword lists to be used in article matching
  • Creates relevant Related Search terms that will lead to pay per click revenue through the top-tier advertising feed.
  • Writes a quick meta description by integrating the most popular terms for the domain
  • Categorizes the domain and assigns a template/image.   For example CoralSpringsRealEstateAgents.com has been automatically assigned a “Florida” image.   Others like ShreveportRealEstateAgents.com were assigned an image specific to Shreveport.   WhyPark currently has over 4,000 images, adding several hundred new images for our templates weekly.

Step 4: Our bulk import tool is usually very accurate on matching keywords with domains having multiple keywords and phrases.   However, we might not always have stock content for highly focused phrases or small geographic areas.   So, I’ve reviewed the domains and when needed, tweaked the keyword list to ensure that we have focused content about the domain name’s theme along with content that a user would expect when they land on the domain.

For instance, we might not have much content specifically about a phrase like “Murfreesboro Real Estate Agents”.   However, we do have content relating to the city of Murfreesboro along with related real estate areas like Tennessee.   By updating the keywords, we’ve been able to provide a good mix of real estate related content about Murfreesboro and surrounding areas.

step4

Step 5: Choosing a Template:   By default, we assign a template to each domain as it’s imported, mixing in a few different templates for variety.   In this case, we’re going to choose one template we created that has a wider column on the right to accommodate widgets from Zillow.com.   I’ve clicked on the group of names called “Real Estate Agents”, selected all domains in that group and chose to update the layouts in bulk.   I then chose the template from Elliot’s saved, custom template gallery which applies the layout to each of the domains in that group.   I’ve repeated the process on the domains in the “Home Loans”, “Mortgages” and “Real Estate Agent” groups.

step5


step5b

Step 6: Elliot asked to include widgets from Zillow.com on his real estate and mortgage sites.   To do so, I went to the widget section on Zillow’s site.   For each city, I generated a city-specific widget and copied the code.   I then pasted that code into the HTML of the layout on WhyPark.   This customization does require some basic understanding of HTML to determine where to paste the code in the layout.

step6

Step 7: I asked Elliot to update his DNS to point to our servers and all 54 domains went live.

step7

Moving Forward

The WhyPark platform focuses on matching the most relevant content that we’ve licensed from many sources. While we try to make it as easy as possible to turn your domains into active, relevant sites, it shouldn’t be misunderstood that this will be a free ticket to the top of every search engine. WhyPark provides a number of tools, so you can import RSS feeds, customize your design, add an unlimited number of custom pages, update your home page, and much more.

It’s also always recommended to start working on getting links from quality sites that are related to the domain you’re optimizing. Search engines place a large amount of value on the quality and types of incoming links your site has. The beauty of having developed sites is that you can immediately start working on getting new links to build trust and create new sources of traffic and revenue.

“I Have a Great Business Idea”

Elliot Silver
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16

“I have a great business idea! I was eating marshmallows and pretzels at the same time yesterday, and it dawned on me. Marshmallow covered pretzels – tadah! I bought the domain name MarshmallowCoveredPretzels.com, and I think there’s a great business idea. I need your help to make it happen…”

I am excited for people when they call or email me telling me they have a great business idea and the matching domain name. It’s great when people take initiative to start their own business online. There are many advantages to it, but if you’re reading my blog, I am sure you are already aware of them.

However, I am probably the wrong person to speak with about building your business idea into an actual business – especially if you aren’t planning to make it your complete focus. I am a domain investor first and foremost. I acquire domain names because I believe the value is greater than I am paying. On 90% of the domain names I acquire, my primary objective is to sell it for more than I paid, and most of the time that involves a quick sale.

A domain name can be a great start for an online business, but it’s just that – a start. You need to have a solid business plan to go along with your domain name, and that doesn’t include the financial backing that some projects need or the person behind it who is determined to make it happen. There are a lot of people with good ideas and nice domain names. It takes a lot more than that to build a business.

Facebook Scam Hits Domain Investor

Elliot Silver
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8

FacebookI know this is a fairly well-documented scam, but I understand it’s impacted a member of the domain community, so I wanted to share it with you. The premise is that a hacker gains access to a person’s Facebook account and sends instant messages to that person’s friends asking for money.

While the premise behind the scam changes, it’s most often related to being stuck in a situation without money or access to funds. In many cases, the scammer claims that he was robbed at gun point, and all credit cards, cash, and mobile devices were taken. The scammer claims to immediately need cash via Western Union or some other difficult to track money transfer.

One reason I point this out is because many people who are connected on Facebook aren’t actually closely related in real life and may not know the person (and their diction) very well. In addition, they may not know where their “friends” travel and how often, so the scam may not seem unrealistic at first glance.

Keep your passwords secure, make sure they are different for different websites, and if someone reaches out to you, be sure to email or call the person making the request. Chances are good that it’s a scammer whose gained access to someone’s account without that person’s knowledge.

You Can Start Today and Still Be a Successful Domain Investor

Elliot Silver
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9

FlipI strongly believe that a person could learn about the domain industry right now, do some research, make a small investment, and make a profit. I don’t think it’s accurate to say that only people who started 10+ years ago can have success in this business. I also don’t think you necessarily need hundreds or thousands of dollars to start.

If I had to start all over again today, and I was only willing to spend $50, I think I could still make a profit. It would certainly take time to make an impactful amount of money, but that is the same as just about everything else.

So how would I start today with $50? I would focus on two things.

1) I would look around to find companies that own a whole lot of domain names in their vertical(s),   and I would see what types of names they own using a Reverse IP tool or by looking at the names that reside on their nameservers. There are quite a number of companies that own hundreds or thousands of long tail domain names, and I would try to find unregistered names that are similar to what they already own. One company that immediately comes to mind is Vacations To Go, although I haven’t sold them any names.

Before registering the names I found, I would do some research to find out who at the company would buy the names. If the company is small, I would contact the CEO. If it was large, I would probably not waste my time. I use the company’s website management page, tools like LinkedIn and Facebook, information on press releases, Whois information, and other sleuthing tools to find the CEO or owner. Once in touch, I would ask if the company is currently buying good domain names. Nothing more, nothing less.

If the person on the management team says the company is buying, I would then register 3 of the best domain names I could find from my previous research. I wouldn’t try to hit a home run and name a ridiculous price on these names. If I paid $10, I would probably offer them for $150/each. It’s a huge profit margin, but not too expensive for the company. It’s also not an amount that would require a lengthy contract or ownership confirmation, which would reveal the recent registration date. He or she will just buy if they like the names. If the company isn’t interested, I would list them on a place like DNForum for $40 just to recoup the investment and move on.

The key is to make sure the domain names make sense and are actually good names that a company would want to buy.

2) I would do geo-keyword research to find unregistered geo profession .com domain names and email people in those professions. I would offer to sell the names for $150/each, again because the price isn’t too high that it would cause someone to take a lot of time to think about. There are a ton of solid names that have been dropping, and I think a person with some time could do well by registering a few and contacting people who are in the field. Many of these types of names were coveted by the professionals in the field, but they were previously owned by large domain companies. You can now buy these names at registration fee, and try to re-sell them at a profit.

Take a look at your local phone book and see what types of urls lawyers, doctors, real estate agents, and other professionals are using, and see if you can find similar names for other cities. I know a large law firm in my hometown that uses NashuaLaw.com as their domain name. I also know there are a bunch of CityLaw.com names unregistered.

There is still a lot of money to be made in this business, whether you started 10 years ago or 10 minutes ago.

Using WhyPark to Create Mini Portals to Sell or Generate Revenue

Elliot Silver
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15

For SaleI have about 30 CityRealEstateAgent.com and CityRealEstateAgents.com domain names in my portfolio for cities from throughout the United States (such as JacksonRealEstateAgent.com). I listed them for sale in a couple of places, but they didn’t sell to domain investors. They also don’t get a lot of type-in traffic, so the revenue is light. Because they’re very targeted for long tail terms that get searches, the only way I will get traffic is via search, which won’t happen with parked domain names.

This week, I will be working with Craig Rowe of WhyPark to rapidly build sites on these domain names. I plan to use several widgets on the sites, including some provided by Zillow. In addition, I will use the automated content provided by WhyPark, and supplement this with some unique content about each city (I will be working with a copywriter for this). The goal is to get listed in search engines for each search term, which will drive some traffic to the site.

While I don’t anticipate these domain names will make a lot of PPC revenue, I do have an ulterior motive for this project. I plan to email 10-15 real estate agents from each city, offering their related domain name for sale. I will use a version of my end user sales email.

In addition, I will have a link on each page for agents to learn about advertising information. I will offer banners and/or text links, which will be fairly inexpensive for advertisers, but it will be a revenue stream from where there once was none. The only downside is that if I get an advertiser, I can’t sell the name without a problem, so it will have to be enough of a revenue stream to make it worth while.

Assuming the domain names rank well in the search engines because of the unique content, they will have more value to real estate agents. Instead of discussing the theoretical ranking increase for a keyword domain name, I will be able to prove it by saying, “JacksonRealEstateAgent.com ranks higher for the search, ‘Jackson real estate agent’ than your website, despite the fact that you’re a real estate agent from Jackson.”

As with everything I do, I will let you know how the sites perform. I will be looking for the following things:

  • Search engine ranking in Google and Bing
  • Advertising inquiries/advertising revenue
  • Domain Sales
  • PPC revenue

WhyPark makes it pretty easy to add widgets and content, but I am going to ask Craig to provide a tutorial later on in the week for dummies like myself who probably wouldn’t be able to figure it out on the first effort.

Photo: http://www.flickr.com/photos/penguincakes/ / CC BY-NC-SA 2.0

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