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Blissdom 2010 Advertising Panel

Here are my rough notes from the Blissdom 2010 Advertising Panel:

Content is King

Clean up your act
-DeClutter
-Make it easy for an advertiser to want to advertise on your blog
-Remove all but absolutely necessary/restrain yourself
-Choose a theme that supports different sizes of ads

Be Careful what/how you review
-content should not be cluttered/conflict

Know Your Stats
-name of blog
-elevator blurb
-page views generated, unique visitors

Be able to speak to your “influencer” status
-speak about your readers (loyal) – more than just sheer numbers
-what kind of a social media footprint you have

Key words you need to know to speak to advertisers:
-CPM: Cost per thousand pageviews (ex $5/1,000 page views)
*CPM # goes up the more niche focused you are
-Market averages
-Uniques vs. Pageviews
*Unique = counted one person, one time per month (Based on IP address)
-CTR = Click Thru Rate (how many people did you drive through to their site)
-CPC= Cost per Click
-Comscore = The Gold Standard Among Ad Agencies (Alexa, Quamcast or print out page from internal counter)

Network: What is it
-groups sites together to create a larger base and then sells those sites advertisements collectively to advertisers
-Blogher, GlamMedia, JuiceBox Jungle, Real Girls Network, Federated, (Lifetime)
-Pros: seasoned ad execs monetizing your blog for you, collecting money & paying you (like a business manager)
-Cons: not always control over what ads you’ll see

What will the network expect of you
-language content, don’t change topic, get back with them quickly on things,

How do you get in a network?
-network will ask for all above the fold placement (utilize 2, one for above and one for beneath the fold)
-reach out to several networks (typically first need 5,000 unique/month)
-look at the contracts

Different ways to make money:
-content posts – editorial

How will they pay you?
– you pay them 50% to manage you
-they pay you 90-120 days after the campaign
-Read the fine print

PRIVATE AD SALES:
Where do you find the advertisers?
-Find similar blogs (in nice and readership), see what they’re advertising, and seek them out as well (just want to let you know there’s ad space available…)
How do you solicit them?
-Should you approach big or small businesses?
-Develop a relationship with your client
-Lengths of contracts to propose and how to price it
*Monthly rate (use CPM formula, but don’t charge CPM rate…start out with $1/$1000 page views = $50/month)
*Offer discount for longer contracts (reward loyalty) or buy 3 get 1 free
-When/how can they pay
*Get a routine – contact advertisers 1 week before ad expires
*Advertisers should match up with what you do/write about

Standard ad rates: between $1-$18 CPM

Ad size examples: 125×125 (features more advertisers at once) – Top and to the right (most valuable)
300×250 (box on top right)
728×90 (leader board) top banner ad across top
160×600 (house ads skyscraper)

Disclosurepolicy.org (boiler plate)
Be sure to include some type of disclaimer page especially if you are doing reviews of any type

MEDIA KIT – quotes from advertisers, stats, bullet points about who you are, what your site is about and stats

FINAL THOUGHTS:
-no one gets rich overnight
-Gather important info you can use for future case studies
-Have at least a one sheet on yourself that is readily available
-Know your audience
-Don’t short sell yourself. Be fair, but also demand market value for your product. (You can go down from a high number,  but not up from a low one)
*It’s a business, treat it as such
*Be cognizant about the words on the page and how it will affect your advertisers

Prove your value