Got this fragment of information from an Search Engine Roundtable's transcript of the Search Engine Strategies Conference 2006 in Chicago:
It is quite eye-opening but a tad sad since it has made AdSense look like it's a contextual ad network made only for the desperate publishers or those who don't have any choice.
Jeremy Schoemaker is up first with his crew, ShoeMoney.com. Shoe starting

March 2003 with AdSense, at about $4 a day. He said if you design a site with contextual ads in mind, your kinda doomed to fail right away. When do you stop using AdSense? When you get to a certain point, you will have people waiting in line to give you direct ads. When to stop takes care of itself. After you complete the functionality of the site, that is when he starts adding ads, and about 1,000 unique visitors per day is a good point. Positives contextual ads, it is super easy to implement, they take out all the hassles of finding advertisers, dealing with them, etc. Negatives are that there is a "one click and gone effect." Only way to get paid is for them to leave. The user experience is not controlled by you, you do not directly control the ads that come up on those sites. via SERoundtable
I believe that if a site serves content that is of high quality, controlling user experience will be a cinch even with AdSense ads around. What's RSS and e-mail newsletter subscriptions for, right?
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