Private Advertising Available Through Online Auctions

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As you may have noticed, John Chow dot Com is slowly moving away from advertising networks like Google Adsense and moving toward the much more lucrative strategy of private advertising. This is a fairly simple transition for a blog of this size, but if you don’t have the audience size of John Chow — most of us don’t — then it can be pretty difficult to solicit private advertising. What can you do?

To address this very need, PlaceMyProduct.com was created. It’s described as an online auction site for product placement, sponsorships, and ads. They work as an intermediary, but unlike other networks, PlaceMyProduct takes a cut that’s much smaller than 50%. Interested? Then check out the rest of this review.

eBay For Web Publishers and Advertisers

The major difference between the PlaceMyProduct online auction site and other advertising networks is that the pricing is not set in stone. When you list your site on ReviewMe or Text Link Ads, the price for a particular placement is what it is. With PlaceMyProduct, the arrangement is an eBay-style auction.

This accomplishes a couple of things. First, advertisers (the people who will be buying the product placement) can shop around for the best deal, placing bids on available advertising opportunities as they see fit. Just like on eBay, it’s perfectly possible to score an incredible deal that is considerably lower than the regular price.

On the other hand, product placers (the people offering the ad space) have a much better chance at selling their sponsorship or ad space than they may have through a more private configuration. This creates exposure and, with a little luck, a bidding war that could bring in more revenue than otherwise possible. And unlike other ad networks, PlaceMyProduct offers an 80% payout (20% commission) on all sales.

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To further supplement their revenue, there is also an advertising opportunity on PlaceMyProduct: a series of 125 x 125 button ads that appear on every page. Prices start at $10.

Moderated Registration

Registering with PlaceMyProduct is a fairly straightforward process, but your account does not become live right away. After providing basic contact and profile information, you must confirm your email address. After that, your application heads into moderation.

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My application was approved within a few hours, though your mileage may vary. The expediting of my approval may be because PlaceMyProduct is still new, so they didn’t have that many applications to review.

Create a Posting

Creating an auction on PlaceMyProduct is actually easier than doing the same on eBay. It just takes a single page, wherein you enter the following information: Category, Auction Title, Auction Details (description), Estimated Audience Reach, When Payment Will Be Earned, Auction Length, and Starting Price (at least $10).

Before we go on, let me provide a bit of clarification about when the payment will be earned. PlaceMyProduct holds the payment received from winning bidders (PayPal) until the product placer fulfills his or her side of the arrangement. Some publishers will ask to have payment right away and they would indicate this stipulation in the provided section.

As an added bonus, PlaceMyProduct also has a widget similar to the one offered by BlogRush. This can be placed anywhere you want to promote your online auctions and, by implication, the advertising opportunities on your website, blog, podcast, or other publication.

Here’s the auction and profile page that I have set up on PlaceMyProduct. I am currently offering an ad package consisting of a paid review on Beyond the Rhetoric, as well as a two-month text link ad in the sidebar. The auction ends on February 22nd.

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One rather major gripe that I have with PlaceMyProduct is that while it is possible to edit your profile through the control panel, it is not possible to update any auctions after they have been posted. The only available option is to delete it.

Win 10% Equity For Free

Based on these early impressions, PlaceMyProduct.com sounds like it could be a viable option for any online and offline publishers looking for private advertising revenue. There are categories for blogs, TV, email newsletters, print, podcasts, and more. The 20% commission is higher than eBay, but you don’t pay any listing or final value fees.

To encourage people to come on board, PlaceMyProduct is holding a contest wherein the top prize is a lifetime 10% equity in their service/website. You will earn 10% of all future profits.

One John Chow Dot com reader will win 10% equity in PlaceMyProduct.com. That winner will get 10% of all future profits. Also(optional), he/she will get their photo, description, and link in our “About Us” page. Here are the rules: 1. When creating a profile, user must write JohnChow.com reader at the bottom of their profile description (This will be publicly visible) 2. User must have an ad sell for at least $15, paid for by the advertiser, and payment earned by March 9, 2008. 3. I will create a list of everyone eligible on March 10 and give it to John Chow to choose a winner however he wants OR I will choose the winner at random and announce it on the PlaceMyProduct.com blog I will sign over 10% equity to the winner and also provide a copy of the articles of incorporation.

Make sure you follow those instructions carefully. Good luck!

And don’t forget to check out the Beyond the Rhetoric auction!


38 thoughts on “Private Advertising Available Through Online Auctions”

  1. Sounds good. Worth to try :mrgreen:

  2. Tino Buntic says:

    Great review Michael. Thanks for that.

  3. RacerX says:

    Like the layout. The dead letter office never going away is kind of odd, but an easy fix for ver 1.1. Like that Michael’s profile tells them it is a no-follow link!

    Nice Review Michael!

  4. Gary R. Hess says:

    Holy crap, 10% lifetime? Sounds great.

  5. Poker Sharks says:

    They’re giving away 10% of their company if i sell one $15 ad???

    Thats me sold, lets prey a kind sole buys my ad 😕 !

  6. Awesome. 10% wow! Now there seems to be advertising and promotions options for each level of advertising.

  7. Anuj Seth says:

    What timing! I just created an account for myself at PlaceMyProduct prior to visiting this website. 🙂

  8. I’ll give it a look, i have seen a few new services like this already this week, i wish them good luck though and will add my site too. I agree you got to move away from adsense if you want to make some cash though

  9. Steven Finch says:

    I think this is a pretty good idea. I will have to add my site, http://crenk.com

  10. Jacob Bager says:

    I’ll definitely gonna take a look at this.. Sounds awesome,

  11. phlizzow says:

    Nice post!! I’ll try it.

  12. Seopher says:

    That’s a really clever piece of viral for them; I respect that model. I might have to investigate this – I was in the process of organising a startup to do this with text links before Google brought the pain.

  13. watercarving says:

    This sounds really good for larger sites but how does it work for niche sites like mine? It seems that most of these type advertisers don’t fit for smaller niche sites. Is it possible to see what type ads are bidding for you? Does the company go and try to find advertisers to fit your site?

  14. watercarving says:

    How does this work for niche sites? It seems that most of these deals don’t fit well in more specific areas. Do they show who their potential bidders are?

  15. It seems like new ad networks are popping up like crazy. This one looks pretty good!

    :mrgreen:

  16. Simon Lau says:

    Nice find! I’ll give it a shot

  17. Wow, 10% of what they make? I’ll take that, even if it starts out just being pennies!

  18. Jorge says:

    What’s nice is that this may really help out us little guys get into the private ad marketplace I think once advertisers catch wind of this medium. Great idea to be honest. Hope it goes well for them!

  19. Trevor says:

    This is a really good idea when you are either in the big guns or just starting out!

    Thanks

  20. Jake Cohen says:

    This is a really good service. A friend of mine was using it on his blog. I think its awesome that they take such a small cut. I’ll definitely be checking it out for my blog, once it gets big enough.

  21. Jake Cohen says:

    This is a really good service. A friend of mine was using it on his blog. I think its awesome that they take such a small cut. I’ll definitely be checking it out for my blog, once it gets big enough.

    http://www.talkprice.net/

  22. Amy says:

    Thank you for another advertising option! I’m tired of *certain* programs taking such a huge cut and although I have a script in place to control my advertising I like the increased exposure of PlacemyProduct.com.

  23. Simon Lau says:

    I just noticed these guys are in Mississauga, Ontario…I wonder if they’ll let me swing by their office for a peak of how their company runs on the inside. See if they have it set up like those spiffy Web 2.0 offices

    1. David Chew says:

      That will be good because people prefer to have a look at it so that they will be more trust for it.

  24. Will says:

    I thought this was another thing like auctionads for a moment.

  25. The 10% equity of the company is interesting however, the other aspects aren’t really that enticing in my opinion. There are alot of ways this system could be improved including lowering the starting rate of $10 because, look at Adtoll, Adbrite etc you’ll see some nice slots going even cheaper then the $10 😈

    1. Yeah I agree. But taking a cut from anything less than $10 will give them a really small profit.

      1. So…less profit but more revenue due to increased sales therefore overall profit will increase. This is because, we are in an elastic market the supply and demand will increase if they reduce the min amount.

  26. A heavy material to read but sounds good. My site is new, so, private advertising at this stage, will it be okay?? I think I will wait a month or two. What say??

    1. Uncleche says:

      Yeah, really. You will have to wait for about 3 months. I won’t advise you to venture in private advertising with a pagerank less than 3. My site is new too. I am working hard to build up my traffic and increase my pagerank. In that way, people comming to advertise on your site will pay high.

  27. Uncleche says:

    Wow, this is excellent. Not only do you sell ad spaces but you also expose your site during the process. That means even if no one buys your ad space, you must have had a couple of visitors coming to your site to see if it meets their standards or not. I guess this is also a very good means of knowing the “value” of your site.
    Cheers to all the Chow Fans./

  28. Robert says:

    10% equity is TOO GOOD to pass up. This serves as some serious motivation.

  29. David Chew says:

    Sounds good enough. :mrgreen:

  30. Wow, this sounds like a really good site. Thank you for sharing it with me. My site probably won’t gain me any revenue now through something like this, but in the future, I could really find myself using this site. For now I’ve got to work on fixing my url.

  31. JoNathan says:

    I signed up! I am super excited. Just waiting for approval and I will be rockin!

  32. Play Game says:

    Thanks for the auction tip because i have a playstation 2 that i want to get rid of because i already have 3 for each room. Cool info John.

  33. Yes this is really intresting and helps small blogs in getting private ads

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