Knowing what you should charge a sponsor to advertise on your blog can be challenging. Where possible, request an initial offer from the potential advertiser and ask yourself the following ten questions to help you understand if the said price is reasonable given the advertising specifics, your readers’ preferences, and the opportunity costs you might have.
1. How Long Will You Advertise For? Is the sponsor buying a month’s worth of advertising or a year’s?
2. Will You Be Featuring Text and/or Banner Graphics? Are you simply going to insert the company’s hyper-linked name in text form or will you feature a banner ad?
3. What Size Text or Banner Will You Post? How many pixels is the banner in question?
4. Where Will You Be Featuring the Company? Will you feature it in a rotating grid or will this advertisement have top priority in a sidebar?
5. Are You Agreeing to Avoid the Sponsor’s Competitors? Is the sponsor asking you to not engage with the advertiser’s competitor companies, effectively blacklisting even their mention on your site?
6. How Much will the Commercialization Downgrade your Blog? Do you already have ads on your blog or will this be your first step into monetizing your site? Will enough readers be turned off by the additional advertising to make this new venture not worthwhile?
7. Will the Sponsor Offend Your Readers? Do you have a conservative audience that will be bothered by the goods and/or services this particular sponsor provides?
8. Will this Sponsor Make You Lose Credibility? Does this sponsor offer inferior products that you and your readers know are bad?
9. Is Another Sponsor Willing to Pay More? Ceteris paribus, meaning if all else is equal, is there another sponsor willing to offer you a higher price even for similar advertising terms?
10. Are There any Other Unsaid Opportunity Costs Involved? Would it be more profitable or valuable to do anything else with the blog space in question?
Because each blog has its own set of site statistics–a unique amount of traffic and a varied readership–there is no universally-right price to charge advertisers. Understanding the contract terms at hand and what your specific blog has to offer can be crucial in determining what fee is right for you. Good luck!