The first part was about knowing your site
The second part is about building your media kit
This part is about making money without working your ass off!
Who told you that you need to work to make money? Not me ;-). But if you don’t want to work, you had better be smart! If you look at my blog income reports, I’ve made $44,606.34 in 9 months this year for an average of $4,956.26 per month from private advertising (trust me, this average is going up with September’s income report that will be published next week!). So I’m making a little bit more than half of my online income from private advertising while not working more than 10 hours per week on my company. Therefore, I can’t spend much time on dealing with advertisers and following-up with ad renewals (I need to spend some time to write during these 10 hours, right?).
Since managing our advertisers is a very “personal” part of our business (we are talking about giving access to our paypal and company bank accounts), I want to keep control of it. I know that some of you might be exhausted just at the thought of the time required to manage your ads. This is why I want to share my deepest secrets on how to manage so many ads in so little time ;-).
The first thing you need to do to save time is to build templates. The first one you need is to “answer email”. Each time I get an advertiser request, I copy/paste the very same answer:
Thank you for your interest in advertising with us. We currently manage several high quality financial websites. Please find enclosed our media kit along with our rate sheet.
We can do special deals if you take more than 3 links.
It’s quick, simple and it goes directly to the point. Once you have a great media kit built, you don’t need to say much. You need to “automate” your answer so you can save as much time as possible while keeping your potential advertisers interested.
The second template you need is an advertiser manager Excel spreadsheet. I have 2 templates per site:
Advertiser Type Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total Percentage
Google Adsense $0 #DIV/0!
Azoogle Ads $0 #DIV/0!
Amazon $0 #DIV/0!
QuestTrade $0 #DIV/0!
Commission Junction $0 #DIV/0!
Mint (in article) $0 #DIV/0!
Private Link #1 $0 #DIV/0!
Private Link #2 $0 #DIV/0!
Private Link #3 $0 #DIV/0!
Private Link #4 $0 #DIV/0!
Private Link #5 $0 #DIV/0!
Private Link #6 $0 #DIV/0!
Private Link #7 $0 #DIV/0!
Private Link #8 $0 #DIV/0!
Private Link #9 $0 #DIV/0!
Private Link #10 $0 #DIV/0!
Private Link #11 $0 #DIV/0!
Private Link #12 $0 #DIV/0!
Private Link #13 $0 #DIV/0!
Private Link #14 $0 #DIV/0!
Private Link #15 $0 #DIV/0!
Ad Block $0 #DIV/0!
Banner 125X125 #1 $0 #DIV/0!
Banner 125X125 #2 $0 #DIV/0!
Banner 125X125 #3 $0 #DIV/0!
Banner 125X125 #4 $0 #DIV/0!
Banner 125X125 #5 $0 #DIV/0!
Dedicated Page#1 $0 #DIV/0!
Rate Widget $0 #DIV/0!
Adbean Widet $0 #DIV/0!
Total $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 #DIV/0!
Martin Craig Net Profit $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
The first template tells me how much I make each month for each ad. I can track all my sources of income and know exactly which one is going up or down and which one is the most important. This has 3 major advantages:
a) I know where my money comes from and how I can optimize each site.
b) This is high value information if you ever want to sell your site!
c) I know how many private ads I’ve sold so far (I tend to limit my sites to a specific numbers of ads).
Slot Code Price Freq Exp Date Contact Paypal Combo Friends of The Dividend Guy Private Link #1 Private Link #2 Private Link #3 Private Link #4 Private Link #5 Private Link #6 Private Link #7 Private Link #8 Private Link #9 Private Link #10 Private Link #11 Private Link #12 Private Link #13 Private Link #14 Private Link #15 Investment links Ad block The Dividend Guy Sponsors 125X125 #1 125X125 #2 125X125 #3 125X125 #4 125X125 #5 Widgets National Average Mortgage Rates Adbean
My second template is used to follow-up on each ad. Once a month, I check out this sheet for each site and I know which ads are up for renewal for the month. This tells me how much the advertiser is paying me, what is the code used and also to know if I offered a package deal with other sites (the combo section). This helps me to requests more ads from the same client upon renewal.
This leads me to my 3rd template: my renewal follow-up email:
There were two ads to renew on DATE on SITE.
Here are the two links:
We would renew for the same terms and price, which is PRICE each link for a 6 month period.
Please let me know your intention as soon as possible.
We also have the following sites you might be interested in advertising on:
Thank you and hope you have a great day!”
As you can see, upon each renewal, I’m plugging 2-3 of my sites and offer a package deal. Most advertisers want to renew at a lower rate (since they have been good clients). I don’t do that unless they get more links from our network. It usually works pretty well and I’m able to fill the space of less occupied websites.
As just mentioned, I’m follow up on my renewals only once a month. This means that I’ll have to email some people 30 days in advance and others at the very last minute. I’m okay to let an ad expire on my site and contact the advertiser a few days after rather than exclusively prior to expiring. I do that in the name of efficiency.
If I have an “unpaid” ad on my site for a few days or even a week, it is still better than checking my ad manager weekly and spending 30 minutes to 1 hour per week to send email and check out my stats. I now spend about 1 hour per month sending all my email and I take off the expired links at that time. It usually pays off as some advertisers are real slackers ;-). It gives them the time to answer me back and they are happy since their link was still on. If they renew, I start the expiry date as the renewal date so they don’t get a free ride. If they don’t renew, well, they got at max 3 weeks of free links. It’s not a big issue for me but I save a lot of time managing it this way!
This is one thing Adam Smith learned during the industrial age: doing the same specific task over and over again makes you way more productive. This is why I do all my ad follow-ups and ad requests in bulk. I can open my template, copy/paste and send them in one shot. I am way more efficient than if I send an email here and there.
#4 Label everything
I use several gmail accounts for my sites. Each of them has a specific utility. But I label everything. Therefore, it makes my life much easier when it’s time to manage any requests. It also helps me keeping my inbox clean as everything is filed if I need it. A clean inbox is a clear brain. It’s easier to think when you don’t have 56 emails in your mailbox!
This last part of this series was obviously more directed toward running one or more blogs than a regular business. However, you can use the template tip for anything that includes an email answer or reporting issues. I’m continuing this series with more hindsight specific to my online company in my newsletter (this is not a trick to get you signed up, it’s only that I don’t want to bore people that are not too much into building an online empire 😉 ). So if you have any questions, please let me know. So far, here’s what I want to cover in my newsletter:
– How to manage Pricing
– I’m giving a media kit and template for free
– How you can make more money with multiple blogs with limited time
Anything else? I’m all ears!
|How I Suck at Not Paying Debts||Hitting 6 Figures Income at 28|
|How I Get a Huge Income Raise Each Year||Making $125K Online in 12 months|
|How I Buy Blogs||Most Debated Articles: The Primerica Saga|
|How I Have Survived My MBA||What is So Wrong With Making Money?|
|How I run multiples blogs and makes money without burning out|