How do you determine the value of an ad?

Let's say I have a site that I want to sell advertising on. I've been collecting stats on it for a while, so I have impressions, uniques, pageviews, returning visitors, etc. all cataloged. How does one determine what the value of an ad on the site would be? I know it's all goign to depend on placement, subject matter and traffic, but Im at a loss as to how all of that figures in.

I look at what an adsense unit would do in the same spot and say its worth more. You have to spend the time selling the space, possibly dealing with someone who won't pay, etc, so I prefer 1.5x what Adsense would pay, on average over the previous month.

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Originally Posted by Cutter

I look at what an adsense unit would do in the same spot and say its worth more. You have to spend the time selling the space, possibly dealing with someone who won't pay, etc, so I prefer 1.5x what Adsense would pay, on average over the previous month.

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I was kinda wondering this same question, so I'll ask probably a stupid question and take the discussion further, how do you find out what an adsense unit would do in the same spot? Just have to put an adsense unit in that spot and see?

That certainly is the easiest way.

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Originally Posted by Chris

That certainly is the easiest way.

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I concur :D

Thanks for the input, guys. :) Time to do some comparisons.