So you’ve bought a site and feel you’ve maximised its potential. Now you’re looking to sell it and make the most out of the work you’ve put in. How exactly? This post will explain exactly how you can maximise your profit when selling a site.
- Purchasing a premium domain name.
A site that has a premium domain name is worth considerably more on a less sought-after domain name. For example, ‘www.fishing.com’ would be far more valuable than, say, ‘www.000fish1ng021.com’. Having a premium domain name gives the site much more value as it has the potential to land a tonne more visitors. Obscure names like the one mentioned before are simply never going to be discovered and look tacky & unprofessional.
Paying to upgrade your domain name to something more concise and representative is a great way to add value with very little work. Aiming for simple titles that don’t have a lot of unnecessary letters/numbers is a good place to start. Try to ensure that your name suits the website and isn’t totally unrelated too.
2. Build an audience on social media
Developing a large following through social media is a great way to add value to your site. Even if your site has great advertising schemes in place (affiliate marketing, AdSense, ecommerce etc.) it may be worthless without any traffic. You could have every advert in the world with the potential to make thousands, however without visitors you simply won’t receive a penny.
You could do this through Twitter, Facebook, Instagram or Pinterest. Apps such as Crowdfire are invaluable tools that’ll help you build up a strong following interested in your niche with little effort. The app allows you to search for keywords or popular pages and follow anybody following these areas with the simple tap of a finger. Then, once the people you’ve followed decide to follow you back you can just as easily tap unfollow, giving you a strong follower:following ratio.
Any followers you build up through social media can be directed straight to your site. Social media is an area to explore simply because it attracts a tonne of visitors every single day. Having a strong follower base will instantly add value to your site as it gives it far more potential to make money.
A huge amount of value can be added to a site by implementing advertising schemes.
Affiliate marketing, in a nutshell, is a scheme that most companies have in place whereby they give links to clients to place on their website. Each time a person clicks that link and makes a purchase, the client will be paid by the company for advertisement. It’s dead simple to sign up to affiliate programs and Amazon has a huge section dedicated to it, allowing you to add a tonne of links to your site for an array of different products. Using these links across your site will add an awful lot of value as it simply gives it much more potential to earn a buyer money.
Many affiliate programs also offer discount codes – codes that you can publish to your site and offer to customers allowing them to buy products at a discounted price. When customers purchase a product using your code, you’ll receive a cut of the payment. It’s really that simple.
There are a number of strategies that work best when it comes to selling affiliate products:
- Focus your site on selling one product. This usually works best if you’re selling a popular product and are offering top-quality information for it.
- Selling multiple products can also be effective and doesn’t require much differentiation in design.
- Starting a blog website that focuses its products around a specific niche related to its audience can also be a great strategy when using affiliate links to make money.
4. Increasing your prices
Building onto point number 3, if you already have advertisements in place then you may wish to raise the prices you’re being paid for these. If your site is generating a large amount of traffic then you should be able to speak with your vendor and get a raise on your commissions.
Alternatively if you’re site generates money through ecommerce – actually selling products from your site – you could try raising the products’ prices to gauge the maximum profit available on those products. Test raising your gradually and see how this affects your sales. Once your sales begin to reduce, you’ve reached the maximum value that your product can be sold for without affecting sales.
Diversifying the site’s revenue streams can be another excellent way of adding value. If you’re relying solely on an affiliate program to generate money, expanding the sites streams of income will make it more attractive to a buyer as it’ll have many areas to fall back on.
Consider selling products directly from your site rather than selling for others. You may choose to add a ‘store’ section to your site from which you can sell products. These could be dropshipped (products sold but kept in stock elsewhere – all you’ll need to do is have them shipped to customers) products, products created by you or simply products that you store and ship yourself.
Alternatively, if your site is already focused on selling products then consider adding an AdSense campaign or some affiliate links. These are super easy ways of adding value to the website and generating more income without having to handle any more products. If your shop already attracts a large amount of customers then those customers are highly likely to follow links that are specific to their interests.
And there you have it – a whistlestop tour through the world of website flipping and how to maximise the value of your site. As always, the key is persistence. However you decide to ramp up your site’s value, stay consistent with your methods and don’t lose track of your site’s metrics. Keep an eye on its monthly visitors and how doing different things affects your monthly visits to keep doing the right thing.
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