|Accepting advertising, tips?|
Apologies if this is in the wrong forum, but I couldn't spot a generic one that covered this.
Just after a bit of a sounding board and some general advice really.
I developed and run a new website in a niche sport. I'm fairly well known in the sport, and am offering something genuinely unique, and as such the website has become very popular very quickly. It's a small niche though, so I'm never expecting to get millions of hits etc.
Been live for 3 weeks, and has had 50,000 page views from 6,000 visitors, 3,200 of them absolute uniques.
A company involved in the sport has approached me for advertising. The problem is the site is so new, and has so much more that I want to add to it, that I can't accurate predict my monthly views/hits at all really. I could easily be seeing 10x these numbers in a couple of months.
He wants to put an advert on the site from now until October. I suggested that since the site is growing I can't ask for much now and would potentially want a lot more in the coming months, so we should proceed on a month-by-month basis. This is fairly standard isn't it? Hopefully I can talk him around to that, but he didn't sound keen, worried that I'll bump him off as soon as a competitor wants to pay me more, which is how the world runs, no? :)
He's proposing a 270x80 banner top-right in the header of the site.
I appreciate it's different for every audience/market, but going off the numbers I've given can anyone give me an indication of how much $$/month I should be asking for? Just a rough idea/range - I've never sold advertising before and don't really know what it's worth!
Should I shun all cheap advertising now in the hope of getting something bigger in a few months?
Lots to think about (for me anyway). Sometimes you just need to write things down to think through them, you know? :)
Have been reading up on CPM which sounds like what I need to persuade him to be on, rather than a flat monthly fee, have just sent him a proposal, will see if he bites!
Leave CPMs to the ad networks. It's not worth your bother. Your time is better spent making new content.
Go with a flat monthly fee for the ad space. I find a lot of companies that are new to web advertising are far more comfortable with that model and are more likely to complete the transaction and renew. If you go month-to-month you can raise rates as your expenses change. But also offer discounts for multiple-month pre-payments. And be sure to get payment in advance.
I would personally go with the CPM because then the price adjusts itself. You can probably use a third party ad serving software/company that can manage it for you.
Personally, I would put up affiliate links rather than sell the space! Is there an affiliate program for products related to your sport? Well placed affiliate links can make a lot more than advertising. But you could actually experiment with that at the same time. Good luck.
One another idea is to have a CPM in mind. Eg. 2USD CPM.
Going by your logic, you have approximately 2500 page views a day. So I guess if you use the above CPM rate we are talking about 5USD a day, ie. 150USD a month for that spot.
Now, you could promise to sell the spot to him for 300USD a month, for a maximum of 5000 page views a day, with a very clear expectation set that you are free to rotate other ads once it goes beyond 5000 page views a day.
a. You get double of the CPM you have in mind today
b. You also are not tied down to this one person and today's rate, as it is only for upto double the number of ads you have today.
Just an idea I thought of.
Hope it helps.