Newb here. Was wondering where most of you guys recommend buying a new domain.

[discrat]

Godaddy, Namecheap, Network Solutions, Google Apps etc..?

Is cheaper better ? Where do you all go to register a brand new domain for eventual sell down the road ?

Godaddy been charging over $13 for my domains for existing blogs. Been IM for 6 years now.

But now I want to learn , learn , learn and eventually earn with domaining too.



Thanks for any insight,
Robert

 

[Kate]

Well, selling a brand new domain is much more difficult than selling a preowned domain. Not saying a handreg cannot be sold, but most of the available domains are leftovers
To put it differently, think hard why you think you will be able to sell for a profit a domain that nobody would buy for $10. Buying is easy, selling isn't

 

[Name Trader]

I think the cheapest place to buy is at GoDaddy with one of their $1 coupons. GoDaddy is also a good place for selling domains because they are the biggest registrar in the world, and the general public only knows to go to GoDaddy for their domain names. But of course I don't heed my own advice

 

[discrat]

Thanks guys for your responses and help

 

[discrat]

Well, selling a brand new domain is much more difficult than selling a preowned domain. Not saying a handreg cannot be sold, but most of the available domains are leftovers
To put it differently, think hard why you think you will be able to sell for a profit a domain that nobody would buy for $10. Buying is easy, selling isn't

Hey sdsinc in all due respect ( because I know you are light years ahead of me in domaining) but I hand reg. domain from Go daddy yesterday for $3.17(coupon) and sold it today for $95. About 10 minutes of total work. No biggie but good to get my first one under my belt !

It was geo- domianing to a business. When I got into IM 6 years ago with affiliate marketing and blogging one mantra really stuck with me and that is " you are not your Market".

In other wards just because you know about hand reg. domains at Go daddy for $10 ( in this case $3) does not mean a brick and mortar company does.

Also, some offline businesses may not know a particular domain is available or they just never thought about a particular domain that could be of benefit to them. My job is to educate them how this Domain can benefit their business and bring in more customers.

Thats what I did with this client.

And not just with email but do follow up phone calls.

Btw, I have many business prospects I have built up in my sales pipeline for the last few days that will turn into customers..

So new in domaining but not new in inside sales. This is NOT a one hit wonder .

Also for you guys in Geo domaining I hate to say it but if you think you are going to send out 50 emails to offline businesses and then have owners running to your door step to buy the domain from you,...well you are kidding yourselves.

I know some people have had success doing this but I have seen so many more people who have failed doing this.

Bottom line: Get on the phone and build rapport and trust with these offline businesses.

Contrary to what many of you say the domain will Not ALWAYS sell itself. That is Bulls@t. Some cases , yeah.

But sometimes you have to educate some of these brick and mortar businesses about the benefits of your product. Just plain, good ole salesmanship as I have experienced already.

Does it take some work ? Sure, just like running any kind of biz !

One down for me many more to come

Robert

 

[Ted.T]

Wow... My friend, you asks in your first post about the best place to hand register a domain, and then come back and begin to teach the old members? It seems you learned a lot in 3 weeks.

 

[snowbird]

discrat,

your original post indicated you were new to this business. When someone comes out and says they are looking for advice since they are new, we provide information based upon things we have found over time. There are many methods to selling domains in this industry. With what you have brought to us, it sure shows you know more than you originally lead us to believe. Everyone has their own techniques that make them successful and if you have found something that works for you, that is great and it is nice of you to share it with us. However, be aware that not all of the members here have the same approach or mindset on what works in this industry. If you are here to grow your knowledge and learn from other members then that is great. Part of being a member of this community is contributing what you have learned to help others. I can only hope you continue to post here and let us know how your method is working for you compared to methods used by other members.

 

[DomainOgre]

I can see where phone calls can do more than emails as emails can be disregarded so easily, but is it just a cold call or do you have some prior contact with the company first?

 

[Name Trader]

@discrat Now all you have to do is rinse and repeat this success on a daily basis and you'll have tidy business for yourself.

 

[alien51]

The thing with domains, is that the profit margin can be very high.... even for something below $100.

If you keep things as cheap as possible, people will buy crumbs. And your domaining shelves will clear out much faster.

I have scanned the various domain aftermarket sales lists, i could not believe there are people who pay $50 to $100 to buy a domain not even my own mother could force me to take for free.

So the bottomline is, there's got to be a cheapos market out there.

The downside to this, however, is when your inventory clears out, you are now pressed to replace your sold domains with new ones. You keep buying and buying and buying, because you believe money in domains is easy. Until such time, you realize the cost of renewals of unsold inventory is now eating away the profits you earned from past sales.

In the end, as what many Domainers have experienced, the cost of their portfolio has effectively outstripped their entire earnings since they started. And then you shake your head and say, "was all the effort, worth it for crumbs money????"

 

[Kate]

The margins are high, but they only help offset the low liquidity. Because turnover is very low, I am happy if I move 5% of the inventory over a year. The rest has to be renewed, this is a business expense but there is also administrative overhead.

 

[BODISS]

You need to find that who are offering great service with cheap rate.

 

[discrat]

Hey sdsinc in all due respect ( because I know you are light years ahead of me in domaining) but I hand reg. domain from Go daddy yesterday for $3.17(coupon) and sold it today for $95. About 10 minutes of total work. No biggie but good to get my first one under my belt !

It was geo- domianing to a business. When I got into IM 6 years ago with affiliate marketing and blogging one mantra really stuck with me and that is " you are not your Market".

In other wards just because you know about hand reg. domains at Go daddy for $10 ( in this case $3) does not mean a brick and mortar company does.

Also, some offline businesses may not know a particular domain is available or they just never thought about a particular domain that could be of benefit to them. My job is to educate them how this Domain can benefit their business and bring in more customers.

Thats what I did with this client.

And not just with email but do follow up phone calls.

Btw, I have many business prospects I have built up in my sales pipeline for the last few days that will turn into customers..

So new in domaining but not new in inside sales. This is NOT a one hit wonder .

Also for you guys in Geo domaining I hate to say it but if you think you are going to send out 50 emails to offline businesses and then have owners running to your door step to buy the domain from you,...well you are kidding yourselves.

I know some people have had success doing this but I have seen so many more people who have failed doing this.

Bottom line: Get on the phone and build rapport and trust with these offline businesses.

Contrary to what many of you say the domain will Not ALWAYS sell itself. That is Bulls@t. Some cases , yeah.

But sometimes you have to educate some of these brick and mortar businesses about the benefits of your product. Just plain, good ole salesmanship as I have experienced already.

Does it take some work ? Sure, just like running any kind of biz !

One down for me many more to come

Robert

Bought another Domain from Godaddy at $2.17 on October 14th and Sold it 3 days later on the 17th for $159.00.

It is funny because up until that time I had been doing this Biz for about 3 weeks or so. About 10 hrs a week.

I completely stopped pursuing this Biz on Oct.16th which is ironic because I got the email from the client the following day that he wanted the domain

But I did A LOT of Cold Calling and follow ups with this geo domaining Biz

Its great I made some really impressive profits on these Domains.

But here is the thing guys.

I have looked at the Reward/Work Ratio and it is just too Low for me.

Of course anything you do to become successful takes time and hard work. I do not mind doing the hard work but with this kind of geo-domaining the Reward was way out of proportion to the Work involved.

The only way I see this as something I want to get back into is if I charge the sweet spot of $500 per domain. Which I think with these two customers I could have done close to that and still made the sale.

I just needed to Ask for that. But my 'greeness' in this particular field of inside selling caused me not too. I just wanted to get those first couple of sales under my belt.

.Iam going to think things thru about all this but for now I will stick with my other IM endeavors I have been doing for the last 6 years or so