If you are thinking of being a domain investor (DopeInvestor) and want a strategy that is longer-term but that can be highly lucrative, you might consider trendwatching. Trendwatching is simply the practice of anticipating popular domains before they become popular. The keys to successful trendwatching are good sources and creativity. One of the biggest mistakes novice domain investors make is attempting to trendwatch a very diverse group of industries, rather than focusing on a few and becoming an expert in those areas. The best way to start trendwatching is to pick two or three niches that you feel comfortable with and which are reasonably lucrative, like cannabis. Pick key words and start doing some research online with the various sites that sell domains like godaddy, sedo, flippa, etc. There are tons out there. Keep a journal in your car, beside your bed, in the kitchen, wherever! Think of anything that sounds like a great company to you. Then start looking those up when you have some time. See, what prices they are now. Then, in 3 months, IF they are still available see how much they are selling for.
We did this with 3 of our domains.
MedibleArrangements.com: Purchased: $123.00
ForTheComments.com. Purchased: $879.00
DailyRealEstate.com. Purchased: $899.00
What we suggest is to buy the domain and then add eight to ten blogs within that niche to your portfolio. Research how to get your site ranked high. The more unique visits you get the better your domain will sell for. Be creative and come up with ideas/concepts for your sites. Get websites made or make them yourself with sites like WordPress or Wix. Explore various logos, blog sites, and sites familiar to yours. If you’re in a competitive niche, time is of the essence, so regularly check google for information on rising stars, new technologies, burgeoning trends or hot products, and once you hear of the trend, like the multi-billion dollar industry cannabis, pounce on it immediately by buying up some relevant domains. Sites like this one that sell domains can also help keep you on top of developing trends by showing relative query volume for one to five keywords or phrases.
One thing to keep in mind when trendwatching, is that not every predicted trend will pan out, so anticipate some losses for every big hit. As a consequence, it is important to keep your domain holdings diversified, so that you aren’t too heavily invested in a single trend, and thus you can afford to wait out the staggering returns when one of your trend predictions proves true.
What are areas of interests to you that you foresee the greatest growth over the next 5-10 years? Would it be an industry that is only legal in a handful of states, but is slated to be legal in at least 15 more in the next 18 months? That should soon legalize whether medicinally or recreational in over 40 states? With revenues of over $16 BILLION dollars? Well, I think you found your niche.