After Black Friday, almost everyone in our industry is getting more serious about diversifying and getting some eggs out of the online gambling basket. One hiccup that gambling affiliates have had with diversifying is finding an idea that is not only interesting, but profitable. This post is going to give you one easy way to find new, profitable niches outside of gambling.
Flippa.com is one of the most popular marketplaces for buying and selling premium domains as well as existing, profitable websites. One of my favorite ways to find new website ideas is to check out Flippa.com once a week and see what is up for sale.
When I arrive at Flippa, I like to look at High End Websites (this is a preset search that shows websites priced at $5,000+) that have a profit of at least $500 per month. This weeds out all of the ridiculous domain auctions that are listed at a high price but have no profit or potential.
From here, I will take a look at the ongoing auctions as well as the recently ended auctions. Whenever I see something that catches my eye, I open up the auction in a new tab to review it later. When I am searching through the auctions, I am usually looking for affiliate-type businesses that have at least $500/month in revenues (so I know the market actually has some financial potential).
Once you have a few promising auctions opened up in new tabs, start looking through them to see what you’ve got. A quick way to whittle down the auctions are to close any auctions that are for websites that require a live presence, inventory, credit card processing, shipping, customer support, etc (unless you actually are interested in/capable of handling those tasks).
Once I find something that seems promising, rarely do I actually buy the website that is listed for auction. If I can get a good price on it, I will go ahead and buy it, but oftentimes I would rather seek out a good domain to go after a larger segment of the specific market.
For example, if I found an auction for an affiliate site selling candles that ranked in the top ten for “large scented candle” and was making $500 a month, I would try to find a good domain to purchase, such as scentedcandles.com. Then, I would start my own affiliate website on the exact match domain with a much higher ceiling than the smaller, non-exact match website.
The Flippa auctions often include the dropshipper’s or affiliate network’s contact information, so you don’t have to look too far for someone to work with. Also, the
Google Analytics are often right there for you to look at and gauge the market potential.
Sometimes you may determine that it makes more sense to buy the existing website and improve it than to start fresh, but oftentimes you are going to want to go after a larger segment of the market than the site for sale originally did.
A lot of the stuff on Flippa is not going to be relevant, but if you keep monitoring it for a couple weeks you may just find a great new niche with available exact match domains.
This article was provided by Michael Wittmeyer of BusinessCards.org, a business card print shop.