Wednesday, April 6, 2011

Blogging 301 ~ Lesson # 7: Monetizing a Blog with Project Wonderful

There are many ways to monetize your blog simply.  I have seen several blogs I am familiar with use Project Wonderful on their blogs.  I never thought it would fit in at Simply CVS so have not personally used it, but FrugalMom at Frugality Is Free has and I asked her to share her
knowledge and experience with it.

Project Wonderful is one way that bloggers can monetize their blogs, but it is also a way for bloggers to market their own blogs.
At Project Wonderful you set up an ad box on your blog, and other bloggers or small online stores can then bid on having their ad in your ad box. If there is a bidding war about your ad space, you will earn more, but if there is no competition you will earn less. 

Project Wonderful is not a big money maker, and on average I have earned $15 a year in advertising. Yes, that is $15 a year, not per month...

I have never found any real correlation between the bids and the estimated amount of pageviews, and I have not found it beneficial to have a bigger ad on my blog either.

One of the things that I like about Project Wonderful is that I can choose to cancel an ad, if I do not think it is a good fit with my blog. I can also choose the size of ad I want on my site, but I have chosen a small standard 125 x 125 ad, as this one seems to get the most bids. You can set a minimum bid that you are willing to accept on your ad box, but this is not recommended by Project Wonderful.

You can choose how many ad boxes you want on your site as well, but from my own experience having more than one ad box on your blog will just make the earnings for each ad box decrease.

Example of an ad box from Project Wonderful:

Pros About Project Wonderful:
  • You put up an ad space and that's all you have to do.
  • You can choose your ad sizes
  • You get paid no matter whether someone actually buys something or visits the store or website advertised.
  • You can use your earnings to market your own ad.

Cons About Project Wonderful:
  • The earnings are low
  • With the ad, you will have a space telling everyone, how much the ad space is actually earning you per day.

Getting Accepted by Project Wonderful  

Not all blogs get accepted into the Project Wonderful program, and all ad boxes have to be approved.

Content Restrictions:

  • No adult content
  • Sensitive content: Sites with hate speech and other sensitive content are not allowed on Project Wonderful.
  • Not enough content:  New blogs must have at least 30 quality posts
  • Sponsored content: Blogs which have accepted money in order to link certain products, or review posts may have a difficult time getting accepted.
  • Duplicated content
  • Clean site design required

You can read more about the restrictions at Project Wonderful.

Project Wonderful is not a big money maker, but if you are just starting out, it is a great way to get started on getting paid advertising on your site. In my opinion every little bit counts, and I appreciate the fact that I do not have to do anything to keep my ad box running. Contrary to online survey sites, where I may earn $15 a year by spending time taking surveys, Project Wonderful is therefore a welcome addition to my online earnings.

I would like to thank FrugalMom for sharing with us.  She is busy with several blogs of her own but is always ready and willing to lend a hand.  FrugalMom blogs daily about frugal living, saving money shopping at Aldi stores, children's book reviews among other topics.


Simply Stacie said...

If you have reviews at all they won't accept you. I got turned down by them when I applied. I figured it was their loss LOL!

Cheryl said...

Very interesting, Stacie, thanks for that input. I'm with you--definitely their loss where your blog is concerned!

Cricket @ Thrifty Texas Penny said...

I've been using Project Wonderful for a couple of months now and have been pleased as both a publisher and advertiser. I love being able to see if the ads I place are effective (getting hits) and being able to cancel them at any time if I decide to. It's a great way to determine what sort of ads will be effective when seeking more expensive and permanent (monthly) ads. You can even advertise for free on some sites.

One thing to mention-You do have to deposit $5 into your advertising account to get started. After 2 months I still have $3.50 in my account and have gotten over a hundred hits from the ads I've placed!

As a publisher, I have to agree with JRFrugal Mom- it's not a huge moneymaker, but once it's set up you don't have to do anything else unless you decide you want to pull an ad off your site. I believe there is an option to remove the text that says "your ad right here, right now, for $.10" I just haven't taken the time to make those changes.

Cheryl said...

Cricket, thanks for the insight! I often wondered about using it to advertise.