How do you get people to pay to advertise on your website?

I am in the process of setting up a website which we mostly be free to use, however to keep it going and make a profit (which is obviously my intention as it is going to be run as a business), I need to know how you get paying advertisers on your site.
Any help much appreciated.

You've got to go look for them......... in the 7-8yrs of knocking together websites, and trying to make a few extra Â£Â£Â£'s out of them, these are the only ones that haven't screwed me over and shown signs of making money:

GOOGLE ADSENSE
Been using it for a couple of years......... minimum $100 payout (about Â£50 at the current exchange rate).... currently earned about $66(US).
http://pagead2.googlesyndication.com/pagead/iclk?sa=l&num=0&client=ca-ref-pub-5079162178336415&adurl=http://www.google.com/adsense/%3Fhl%3Den_GB%26ai%3DBcBM3devGRrejNoeeQ7ekkb8Lhc_mJ4Xlm84BxY23AQAQASDXq7sEOABQqKba3fr_____AWC7BpgB_trECaABl5XI_QOyARN3d3cuam9obi1kdWNrLmNvLnVrugEOMTIweDYwX2FzX3JpbWfIAQLaATpodHRwOi8vd3d3LmpvaG4tZHVjay5jby51ay9odG1sL2JvZHlfd2ViX2NvbnN0cnVjdGlvbi5odG1sgAIBwAIDqAMD6APkAugDQugDzQPoA7AD9QMCAAAA&ai=BIAP0devGRrejNoeeQ7ekkb8Lhc_mJ4Xlm84BxY23AQAQASDXq7sEOABQqMumiAZguwaYAf7axAmgAZeVyP0DsgETd3d3LmpvaG4tZHVjay5jby51a7oBDjEyMHg2MF9hc19yaW1nyAEC2gE6aHR0cDovL3d3dy5qb2huLWR1Y2suY28udWsvaHRtbC9ib2R5X3dlYl9jb25zdHJ1Y3Rpb24uaHRtbIACAcACA6gDA-gD5ALoA0LoA80D6AOwA_UDAgAAAA

CIAO UK
A product reviews site that pays you for doing online surveys + product reviews, but also has an affiliate scheme that pays you for new sign-ups. Minimum payout about Â£5-Â£6
http://www.ciao.co.uk/reg.php?AffiliateId=5613249

to avoid.......... Commission Junction - http://www.cj.com
One of the first banner advert companies I first tried earning money via, but each time (about 3 or 4) I've signed up they've gone and cancelled my account for "lack of activity after a certain period" (without bothering to tell me!) yet kept on serving banners to my sites until I removed them..... and made a grand total of Sweet-f.a. in several years of running their adverts when my accounts there were active.

In our website, we sell advertising space - both banners via CPM, sponsored text links, and newsletter advertising. In our experience, here are what advertisers are looking for when choosing sites to use for their advertising:

1. Who are the visitors = It is important for advertisers to know whether your site's visitors are what they are after. More than just traffic numbers, they want to know whether they can get targeted traffic from your website. They want to know whether the customers they want are visiting your site.

2. Traffic levels = Advertisers will often ask you how many visitors/pageviews/uniques you get in a month. Some will go to Alexa.com to check your traffic standing (not accurate, but many see it as a good guide). If you are selling banners through CPM rates for example, they will normally ask you how long it will take you to show the 20,000 ad impressions they ordered (or how many they ordered).

3. Your rates = how comparable your rates are with others.

4. Customer service = advertisers want QUICK support from sites they want to advertise on. You need to be quick to respond to their emails, whether inquiring for your media kit or asking your ad rates or checking the performance of their ad campaigns.The key to understand is that advertisers will always look for metrics to help them gauge the ROI they can get from advertising in your website. If they don't think your site will not give them a good ROI, they will not advertise or renew their advertising on your site

5. Monitor campaign performance = advertisers want to see how their campaigns are doing on your site, so they can make decisions fairly quickly whether to change the creative, pause the campaign or increase the campaign. You need to be able to provide them with real time statistics. We use phpadsnew and it is just great (and FREE!).

As to what rate to charge, the amount depends on a number of factors:

- Who is your audience and how desirable is your audience to the advertisers? If your audience are techies or those who have the propensity to purchase higher-ticket items, then you can charge a higher price as compared to an audience of students.

- What is the rate of comparative websites in your niche? You don't want to overprice yourself out of the market yet you don't want to undercharge as well

- What is the rate advertisers are willing to pay in your site? You may charge $5 per CPM and yet for months nobody's taking you on the rate even though you may get inquiries -- this implies that advertisers think your rate is too expensive. But if you charge $0.50 per CPM and advertisers are flooding in, then you may be too cheap and can afford to increase your rate.

- What is the CPM you get from other advertising vehicles? Do you run Google Adsense, and if so, what is your effective CPM rate with them? Or if you run banner ads through ad networks like Burst Media, Valueclick or Tribal Fusion, what is the CPM you're getting? You can use those values to help you gauge your rate.

Since you're just starting in the game, experiment and see what rate the market will bite. You can start at $1 per CPM and see how it goes.

In terms of accepting payment, majority (99.8%) of those who will advertise will pay by credit card so make sure you have your own merchant account as well as Paypal.

First thing you need is a good Google PR rating. At least 3. Proving to users that you have lots of daily traffic is next in importance; if prospects don't know that you get a lot of visitors they're not going to want to pay for ads on a low-traffic site. Your site should load very quickly, provide something useful to visitors, have easy navigation, and present a professional look.

Once you've got all those things going for you, then you've got to provide someway for other webmasters to buy ad space. There are lots of scripts out there you can get that will handle that.

Finally you've got to get the word out that you have ad space for sale. Doing a Google search on such key words as "ad space for sale" should help out with that. Also start hanging around the webmasters forums and blogs. Many of them have sections dedicated to selling/trading ad space with others.

Maybe you'd like to trade links with a couple of my websites which is another way to get your advertising out to others. Drop me email here at Yahoo with your URL.

Your site must have the exposure. The advertisers will only buy ad spaces from you if they think it will benefit their business, so make sure that your site has a steady flow of traffic.

The placement of the ads should be good too. No one will buy ads from you if you're hiding the ad spots.

PR doesn't matter here as people advertise to gain more traffic, not to gain backlinks for their website.

For more information on ad serving, you may read some articles here: http://www.tw3o.com/category/ad-serving/

One way that I have found to accomplish that is to setup a really good blog and get a lot of traffic coming to it. Once people realize how popular your site is, then they may contact you requesting that you allow them to advertise on your site.

Heather,
The simplest way is to use Google Adsense. Google takes care of collecting the fees from the advertisers and gives you a portion of the profits. They send you a check every month/time you get over $100 in your account.

Here is more info. on how to use Google Adsense. http://adsense.homemade-success.com

There are a few more profitable ways than Google, but they are more involved.

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