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Just for a moment lets drop the YPN and Adsense tags. Has your experience shown that higher paying ads with lower click thru rates are better than lower paying ads with targeted ads?
I'll start by saying it looks like a close call but for me targeted will edge out non-targeted.
I could care less about the difference between the two companies or the targeting of the ads.
Both companies serve high-quality ads, and I will go with the one that pays me more money in the end.
I'm sure that 90% of the other members here on WW feel the same as well.
You are more likely to have a stable income by having ads that are relevant to your page show up consistenly. Sure you might have some high days sometimes with YPN's seemingly higher EPC, but I actually prefer the idea of having consistently on target ads.
Makes the ads on the site seem less "spammy".
From a publisher perspective, I'm happy to see that others can make Yahoo!'s program work but I don't see a bright future for any company that can't match where Google has set the bar. In a short term, non-focused arena this thread's comparison may be valid but this is, after all, the business of contextual ads. That the Yahoo! ad program works for some publishers I'm sure is of no great comfort to Yahoo!.
Unfortunately on many pages Yahoo doesn't target at all well. If they would expand the choices in their targeting option it would solve this problem. (for example if when you select hobbies then within that we need to be able to select the specific hobby)
Not sure how long that can keep up, however.
As Will stated_
"Right now I'm making 3X more on my worst days with YPN than I have made on the best days with Adsense. Money talks, targetting walks."