This is simple and cheap, it can be free if you don't mind not being the owner of the URL (website address). This concept needs not be about something you are particularly interested in. But if you have an interest in it then it could help if you are just getting started.

Your target is to use a SEO (search engine optimisation) or Search Engine Friendly blog, something like Blogger or Wordpress. Then you post content which is relevant to your targeted consumers. Using various techniques, you place adverts on the page such as marketing someone else's advert using Google Adsense or recommending a Clickbank product. If one of your visitors clicks through your link you will be paid by Google Adsense. If one of your visitors clicks through and buys a Clickbank product relating to your market, also you could choose another product from another affiliate site like Commission Junction, then you make money online.

Now you can make money without even owning the domain, but if you use a Domain registrar like Namecheap then the domain will cost under $10 per year. Another provider is Neverblue which is cheaper still and under $6. Your reason for owning the domain is every single domain is like a piece of real estate, once you own it then no one else does. You are effectively leasing the name for as long as you keep up the annual payments, during that time then no one else can.

If leasing the domain, then you should nearly always go for .com, then .org, then .net. I always tend to avoid hyphens wherever possible. Depending on who you are listening to you'll probably get a different story than this. There are times when you can literally find a .com still available in a prime high searched keyword which is worth money from the instant you purchase it. However, once you get traffic to your site, and you are on one or all of the main search engines front pages then you are starting to create real value. Then selling your domains is actually a very easy way to make money online. Just think about it, all you would have to do is send an email to all of the other businesses on page one simply saying, 'Are you interested in buying or hiring my site?' So you either get a one off fairly high pay day for very little outlay, or you create a recurring income.

Now let's say you go for something which you are very interested in. First go online and search for 'Google's Adword Tool'. This tool is free and it allows you to find all relevant keywords for your niche. You do not want to try and name your site/blog what you wish, instead you name it what the/your market wants. Just enter into the search box your keyword. Then you click on 'Global Monthly Search Volume' to find the most popular ones. Find on the Adword tool where it says 'Match type' and change it from 'Broad' to 'Exact'. Then you make sure to also add in the 'Estimated Average CPC'. This will show you what other people are paying to have their advertisement show up for the keyword.

You'll then have a number of choices for your site name based on large 'exact' search volumes and a high CPC price (cost per click). Now let's say you wish to run a blog such as 'West Ham Supporter'. Someone new to the online world may think they should call the site, West Ham Supporter.

So you enter that into your Adword search and you'll see that a mere 480 people a month search on that 'Exact' term and it is apparently worth £0.31 (changes all the time - but will always be around the same levels - just check to see if there are plenty of people paying to advertise on this term). You will also see plenty of other good alternative suggestions from Google. The one I found was 'West Ham Fans,' which would be just as good a domain name as West Ham Supporter, but it has a higher CPC at £0.34 and a much higher monthly search volume at '6,600' searches a month.

This means by choosing that keyword phrase instead of your best guess then you will have just increased your traffic potential by over 13 times. This is of course why you should never choose a site domain name without first researching it through Google Adwords.