How Much Are You Worth?
November 07, 2011
by Yvonne DiVita Like us on Facebook and share your thoughts, issues and insights: http://www.facebook.com/Lipsticking
Or, more appropriately, how much is your blog worth to an advertiser?
Monetization is a huge topic of interest these days. One of the most often asked questions in my email box is, "How much do I charge for ads on my blog?"
The answer isn't a simple one. First of all, you must look at your blog with an honest eye. That's not easy to do, I know. You spend a lot of time adding good content - two, three, five times a week, or more. You cite your sources and add your opinion without getting mouthy. Unless you're a gossip columnist, I guess. Plus, you've created a design that makes it easy to get around your blog - easy for the reader to access archives and topics of interest and comments. One assumes you occasionally or often share videos, correct? In the end, what you've created is a cross between a magazine and a TV show.
With that thought in mind, you now need to consider the reasons a brand might want to advertise on your blog. The top reason any brand might consider your blog worthy of their ad dollars is - your reach. In other words, who is your audience and how many of them are engaged in conversation with you? The brand wants to get noticed. The brand isn't so much concerned with you or your blog - the brand wants your audience to buy what they sell. Or, click a link. Or, do a review. In essence, they want a return on their investment.
How will you deliver that? Is your blog so popular that you can guarantee a hundred thousand eyeballs - collectively? Or, will you guarantee that your audience is smaller but more engaged (more likely to "do" something)? Remember, it's all relative.
Here are some costs for TV commercials - to help you get your head around the numbers:
eHow: The cost of a television advertisement often depends on where the ad is placed. For example, national TV spots on the final of the popular show "Survivor" sold for $1 million, and commercials sold for $750,000 on "Who Wants to Be a Millionaire." Big-time networks ABC, NBC, and CBS book a combined $10 billion in advertising revenue during a typical year. But producing and running an ad for a local network is much more cost-effective. Read more: The Average Cost of a TV Commercial | eHow.com http://www.ehow.com/about_5448301_average-cost-tv-commercial.html#ixzz1d2BsL9Qs
gaebler.com: The second cost involved in television advertising is the price you will pay to run your commercial. Commercial time is sold in 30-second spot blocks. The cost of a 30-second spot varies according to the number of viewers expected to be watching it.
The standard half-hour of television contains 22 minutes of program and 8 minutes of commercials - 6 minutes for national advertising and 2 minutes for local. National advertising is obviously your most expensive option, but even then the rates vary by Nielsen-rated viewership. Highly-watched programs can command rates in the millions of dollars. For example, a 30-second spot during the 2005 Superbowl sold for $2.4 million. Commercials during less-watched programs are more affordable, but the cost of those commercials may still run in excess of $100,000 per 30-seconds.
And, from the University of Minnesota, you have more information on understanding prime time TV advertising.
For some guidance in deciding what to charge, here is a blog that works with brands and has advertising: NOTE: Adrants is a high-level blog. This is their Media Kit page. Review and learn.
And, on About.com, you get 10 Tips to Attract More Blog Advertisers and Make More Money.
Let us know how you do with these links. Share your experiences with ads on your blog.
loved the part about a "smaller, more engaged audience"...I have experienced this first hand.
My second blog "Dakota's Den" doesn't even have a fraction of the followers that "Cat Chat" does but I am constantly in awe of their loyalty and participation. I think that is why that blog has jumped with companies contacting me for potential product reviews with it.
With Cat Chat I am also blessed to have engaged individuals who leave comments but considering I have thousands of subscribers on Cat Chat the level of involvement is nothing like Dakota's.
Your information is invaluable and I will be checking out the links in depth.
Posted by: Caren Gittleman | November 08, 2011 at 11:22 AM