As an owner of a few product domains I have been trying a few different methods of monetizing them with mixed results. A product domain for those of you that don't know is a domain name that is a generic product like fishingrod.com. I like them because when people visit them they are already looking to buy or research a product that you can try to sell them. There are many different options to try and monetizethem, I am just going to talk about building your own site using wordpress for now. Later I want to test out smartname and review that service. The one beinfit about is building your own site is you have total control over the revenue and design and all other parts of the site.
Build your own site
I have been building out sites using wordpress. I like wordpress's ease of use and thousands of free plugins and themes. It also does a fairly decent job at SEO which helps your rankings. On the basic sites I have used Ebay Partner Network to monetize the site. EPN recently went to a QCP pricing which is kind of like PPC and since that my earning have been up. On the sites I use a wordpress plugin called PhpBay to display the ebay ads in a great format. The ebay ads do not look at all like traditional PPC ads and the click through rate (CTR) has been much higher. I have also tried Amazon affilate program, but I do not like the results so far and am in the process of switching my sites out to EPN or other affiliate programs. On some of my sites I still have some AdSense.
I am also looking at starting to drop ship a small amount of products from some websites. Drop shipping does not require any overhead and the margins can be quite large.
I would also like to begin to reach out to direct advertisers now that my sites are getting traffic and ranked for their keywords I think that I could provide value to a potential advertiser.
My Early Results
I recently built Portable Camping Shower and USB Powered Speaker. Both sites took me about a little over an hour to put together and set up. I have a few articles and reviews on each one with some pictures and videos. I used some basic seo plugins and now the names both now rank in google and bing and have generate over $50 a month in revenue combined. Its not a ton but from making nothing with a parked page I am very happy especially with the time I put in. Tip google image search drives nice traffic so seo your images.
If you have any questions please ask them below, I might also be interested if people wanted in build a very small number of sites for clients.