Duncan has a great post on DIY Blog Advertising which is well worth the read for anyone who is contemplating finding advertisers for the blogs. In it Duncan cuts through some of the terminology and gives some valuable tips (some of which I’d known a few months ago).
I particularly like Duncan’s advice on setting the price for your advertising:
‘Setting a charge for your advertising is often the hardest part of the process. Everone thinks their blogs is worth millions, and I can tell you that some try to charge that way. There is, however I fine line between charging a premium amount and an amount that it too low.
Last year I was approached by an advertiser who wanted to sponsor the Blog Herald and wanted a whole lot of advertising in return. Massive banners 728×90 banners, exclusive run of site the whole thing. I put forward an offer and I was basically laughed at it. The response was that they could get $1 CPM elsewhere for a similar deal and why would should they pay more here, this despite them being the ones approaching me. Suffice to say it was an interesting lesson, both in that advertising wasn’t worth as much as I’d expected (particularly when you’re talking exclusive rights) and that advertisers can be fickle.’