When looking for expired domains, you need a domain name that has some history of existing as that gives them an additional SEO boost over a brand new domain. You can find domain names that come from websites that had traffic which means that you can get an even better SEO boost. If the expired domain name hasn’t had a unique hit in 3 or 5 years, it means that the only value of that domain is the age. There is no other special value. But, if the domain had a few thousand or a few hundred visitors per month, it is a potential domain name you can purchase.
You can use the expired domain names for redirecting them to your main site, for setting up a new microsite or for restoring the site that used to exist.
If the website is relevant, use the existing traffic and convert it to your own traffic. You will increase the number of visitors on your site and the number of customers as well.
The other option is setting up a new microsite. This is mostly useful when you want to start an online business in the same niche as the site that used to exist and you think you can run it better. It is similar to developing a fresh site, except you begin with a certain traffic.
The third option is restoring the site that used to exist. You probably won’t be able to get everything from the previous site, but you can definitely try and see what’s going to happen!
So, remember, start by looking several expired domains, analyze them, and if you think they suit your needs, buy them! If not, start the process again!