Buying and selling websites is a fast-growing industry, and those who are already experienced in this arena can do so with little effort and earn a lot of revenue. To become successful in this, you’ll need to know six key strategies that will help you spot websites with potential for growth!
Entrepreneurs have been around for quite some time, but there is a special niche that they’ve taken on over the last few decades—buying and selling websites. The practice is called ‘flipping’, where an entrepreneur spots a website that has a lot of potential, but is sold for a cheap price. He then buys the website and then ‘flips’ it, by selling it at the right time, to the right person, for the right price. It’s not an easy task, but with the right strategies, you’ll be a website flipping success in no time.
Six Helpful Strategies
- Look for sites in the same industry as you. You can connect their brand with your own, and help to build both. Establishing your customer base is easy to do in this way, but it will require confidence in the idea that the traffic generated is of high quality. Avoid buying high traffic sites that require a lot of bandwidth and that lack in the kind of users you are looking into leveraging for profit—this might turn out to be a liability instead of an asset.
- Buy a website with good content that isn’t managing to sell it. For this, no changes will be made to the site—keep the content as-is, and work on enhancing their advertising.
- Keep an eye out for websites that can be quickly flipped. While this is risky, it also has a potential for a big payoff as soon as you finish your renovations. Find a product with a reputable market, with owners that are looking to sell it and have little knowledge of SEO and online marketing. If you know which tweaks to try, you can very well turn it around into a double-figure sale in no time.
- Buy community-driven sites. Sites that have forums peppered with good niche audience are practically a gold mine. Most sites like these are put up by hobbyists with no intention to profit from it. If it’s popular, bandwidth might be expensive, so they’re more likely to want to get rid of it. Be careful when it comes to audience selection because it can be tricky to make money out of communities due to ongoing hosting fees. So, choose a demographic that has founded high prices for keywords in AdSense, great value to advertisers, and an impressive range of affiliate products waiting to be marketed (especially if you sell the same stuff yourself).
- Watch out for the sites that operate in a popular keyword niche, or with keywords you expect to grow over time. Keywords are important in driving search engine traffic, so if you can spot a trend before it picks up, then you can consider it to be valuable property.
- Eliminate the competition, or collaborate with them. If competition is a factor, consider buying them out or suggesting a merger to come up with a single enterprise. Website hosting is a good example, with smaller hosts being purchased by larger fish in the sea in order to increase its sense of professionalism and stability.
Figure out which website flipping strategies will best apply to you, then go out and start searching for the best websites that you can look to flip! If you want to know what to do with those sites once you’ve purchased them, check out our six digital marketing strategies to dominate any industry, or our guide to conversion optimization.