Indie films, indie music and now indie bloggers. That’s right, we are independent bloggers struggling to be discovered with very little resources. But that doesn’t mean you shouldn’t value your work or time. This article will suggest a new internet advertising pricing structure for bloggers that better fits the business of online advertising for bloggers.
Selling Advertising on a Blog
Have you been asked to sell a banner ad, widget, text link or contextual link on your website? Do you offer long-term contract discounts? You might offer these online advertising discounts because you have noticed ad agencies continually asking for them. They prefer to lock down 12-month terms for a bargain price.
Online Advertising Rates
Advertising prices are usually determined by several factors:
Google Page Rank
Unique Monthly Visitors
Page Views or Impressions
For many bloggers, these variables increase over time.
So why are you offering discounts, when you should be earning more money over time?
This is the question we need to ask ourselves. This is where you are selling yourself short when monetizing your blog. Someone looking to purchase an online advertisement on your website knows you will be charging more 3, 6 or 12 months into the future. Why? Because your traffic will have increased and therefore you will have increased your online advertising prices.
In the beginning stages of monetizing a blog, we feel excited to get our first advertising offer. This excitement often clouds our best business judgment. You will be asked to write free product reviews, giveaway free marketing items and run free contests so companies can build marketing lists.
You are being taken advantage of.
Why? Because you are an independent blogger, possibly desperate for exposure and excited about being noticed. If you are truly attempting to monetize your blog, you must approach this as a business, not a hobby.
There must always be a fair mutual benefit.
Try to avoid long-term advertising contracts. If you continually lock in 6-month or 12-month deals, you will loose a significant amount of money blogging. In the early stages, a blog grows rather quickly. If you are charging $10 for a text link now, you may be able to charge $30, 6 months from now. That’s $20 per month you lost on the tail end of that deal when you agreed to a 12-month contract at $10 per month.
Long-term discount pricing is not applicable.
The following is an example of a more sensible blog advertising price structure:
Current 1-Month Ad Price: $60 per month
1-6 Month Contracts: $60 / month
7-12 Month Contracts: $70 / month
Online Advertising Negotiations
Remember, you are always negotiating and each party is trying to do what’s best for them. You must become a strong negotiator, which means feeling confident with your online advertising pricing and what your blog is worth. You will receive many different responses from ad clients:
Your pricing structure doesn’t fit our budget.
Response: I understand, please keep us in mind when you have a client that can benefit from our site.
I think your pricing structure is very strange and I’m not sure my client will go for it.
Response: Our ad price structure is appropriate for the blogging community and we hope you can see the benefit our increased future growth will provide your client.
We can get similar opportunities on sites of higher PR and traffic for less money.
Response: Our price points are based on demand and traffic performance. We hope that you see the benefit of advertising with us.
Elevate Blogging Industry Together
In order for all independent bloggers to benefit, we must be steadfast in believing we shouldn’t work for free. Our time is valuable and your audience is loyal. Ad clients are beginning to see the benefit of working with independent bloggers, or they wouldn’t be emailing us ad offers. If we all put a fair price on our time and blog then we can shape the expectations of doing business with us.
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