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Selling / Reselling Domains
If planned well, selling or reselling domain names can be an inexpensive way to build a successful business. Today, there are more domain name registrars than ever; but while this has led to an increase in competition, it has also resulted in a significant drop in domain name prices, making it an easy business to enter.
If you already operate an Internet-based business, selling domain names is almost a must. Most Web design firms, hosting companies and programming houses offer domain names and domain name management as a value-added service to their offerings.
Volume discounts: Offering volume-based registration services and packages can be very profitable should you a) choose a solid pricing structure and b) promote your business well. The volume approach is extremely cost-effective for larger resellers, since the cost per domain will decline as the volume of sales increases.
Promoting your business: While becoming a domain name seller can be an inexpensive way to online success, it can also be very difficult - as mentioned previously, the domain name business is packed with competitors. As a result, you will need a way to make your business stand out, be it through promotional offers, branding, advertising, promotional tools or a combination of all four. For more information on top grade promotional and marketing tools visit PromoteorPerish.Com.
Upselling: Customer retention is key to generating recurring revenue. One way to secure this revenue is to try and "upsell" your domains; that is, encouraging customers to secure their domain for several years instead of on a yearly basis. The customer benefits from this arrangement by not having to worry about renewing their name for several years, while you reap the benefits of repeat fees on a yearly basis. Many customers, however, are often reluctant to secure their names beyond one or two years because a domain's price rises with the length of ownership. As a result, try to keep your multi-year fees as low as possible.
Value-added services and partnerships: Once you have secured a customer, why stop at domain names? Forming partnerships with other Internet service firms, like Web hosting and Web design groups, to offer additional services can result in a significant deal of supplementary revenue.
These suggestions are only the tip of the iceberg. Running a successful domain registration business takes strategic planning, high-quality service and creativity.
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