In 2001, net advertising is a buyer's market.
Everyone has seen media spotlight focused on big dot-coms who, dependent on ad revenues, have either gone out of business or been forced to cut back.
Unfortunately, it's same story for small business owners. The economic downturn leaves many potential advertisers much more reluctant to pay prices they would have a year or two ago.
I recently came across a message board where one advertiser summed it up this way: in these hard economic times, she has read that people are less willing to make purchases. This means that she is much more at risk to suffer a loss rather than make a profit.
Like most people, this advertiser does not have any extra money to spare - and certainly none to lose to a failed ad campaign. To turn odds in her favor, she regularly goes bargain-hunting for ad specials.
Frustrated webmasters and online editors are feeling pinch of lost ad revenues. This is particularly evident with recent launch of ad auction sites such as WebmasterBids.com and EzineAdAuction.com. These sites are specifically meant to aid newsletter editors and webmasters in selling their remnant ad space - space that would otherwise remain unsold, profits lost forever.
This doesn't mean that you can't benefit from your ad space! Quite contrary. Here are a few suggestions:
1. Encourage Customers to Book Multiple Ad Slots.
Offer large discounts on multi-ad packages. This is a win-win situation - your customer receives excellent value, and more of your ad space is booked with less stress.
2. Auction Off Remnant Ad Space.
As mentioned above, there are at least a couple of places where you can put your unsold space up for auction. If you prefer you can set a 'reserve' price, under which you are not obliged to sell.