How do I price banner ads?

[xecutech]

I have the following stats:
http://www.biblelounge.com/stats.gif

Was wondering how to price advertising for the site. I have read about cpm and etc., but don't know how to apply it to these numbers.
I have never charged for advertising and now have advertisers wanting to advertise, which is good, but I need advice.

Thank you.

 

[lyndonmaxewell]

well, for a good start, you may wish to consider banner ads that stay on pages for a defined period of time.

say for "example",


Header Banner = rotating = Shown on every page! ~ $80 for 10 days
Premium Banner = rotating = Shown on all category pages! ~ $40 for 10 days


The above is just an example. Or you may negotiate with the other party for their advert budget, or what they are looking out for.

 

[xecutech]

Thank you, did you base that price on the traffic I have? If so, is there a formula to come up with the price?
I was told $2 per 1000 cpm, but based on my traffic, could get pricey for some folks. I didn't want to come off too high, but don't want to scare people being too cheap.
I believe the traffic is valuable, but don't want to undervalue it with budget rates.

 

[lyndonmaxewell]

yes, that is if you have afew advertisers, and the format is rotating ads. Some different ideas for ads placement, you may wish to have a look at hardwarezone.com.

If this is your first advertiser, you properly may wish to try out with a short term ad placement to allow both parties to see the effect.

 

[xecutech]

Thank you, that helps alot.