Many people seeking to make fast money online see domain name sales and decide to dive right in to the domain name business. This is a huge mistake that will end up in wasted money and time rather than riches. This is not to say you can’t make money on the internet with domain names, but you need to stay disciplined and have a sound strategy in order to turn a profit.

One of the best ways to make money using domain names is to focus on specific geographic locations. A good place to start with locations is the top 15 largest cities in the U.S. The beauty here is there are still many quality city + keyword dot coms available to register. The crucial aspect to this strategy is to choose the right keyword to go along with the geographic location.

To choose which keywords to use, run a simple search on Google and check how many sponsored results and exact title matches come up. If there is enough competition, you have found a domain worth spending $8.00 to register. Whether there is enough competitionis a judgement call on your part, but generally if there are 4 or more exact title tags or sponsored results, then you have a good chance at receiving one interested party.

Once you register the domain, put up a simple website optimized under the same keywords as your domain. Try to make this site aesthetically pleasing as interested parties will often go to the URL and see if it resolves to a website This visible first impression can give endusers an enhanced value of the domain and “what could be theirs.”

After a website is up and running, send out an email to anyone that might be interested. Obviously, those who are advertising Google Adwords or using the keywords as their current website’s title tags are good targets. You can also try Yahoo and MSN sponsored results to see if there are any other potential parties.

You can go about your email sales letter in any number of ways. Several strategies have proven successful. Generally, I recommend including the domain name as the title of the email and entering email addresses under the blind carbon copy or “bcc” option if you send out a mass email. In the body of the email, state your intention to offer the domain, keep your message tailored and above all come across as professional. Whether or not you include a price is a big decision. Setting a conservative price such as $250 can lead to a faster sale but this comes at the risk of underpricing your domain. Declaring that you are open to offers gives you flexibility, but it is rare that you will find interested parties come out and give you a definitive offer to base a counter offer on.

By following this strategy closely, it is likely you can effectively make money on the Internet by selling domains. Some domains will not always sell, but remember that even at a $250 price tag, you are making a 3100% on your money with one sale which will cover domains that are not bought. Moreover, you can attempt to monetize the website with Adsense and search engine optimize it to make your money back.

You can make money on the Internet using domains with different techniques but trying a geo specific plan will give beginners the best chance to make money online.

Filed under: How To Make Money Online