I tested Project Wonderful as an advertiser to see how the system really works, and here are my findings.
1. You cannot bid if you don’t have funds in your account. The system is on prepaid basis. You put funds in your account via Paypal with a minimum of $5, and then you can start bidding on the different ad spaces on the network. Your funds will be deducted based on the bid and duration your ad is displayed on the publisher’s ad space. If your funds reach zero, all your active bids will be cancelled automatically.
2. When you bid, you set the maximum bid for the ad slot, the duration of your bid, and the maximum amount you can spend on that ad slot. It means that if you already reach that maximum amount, your bid will automatically be cancelled. If your bid expired, it will be cancelled too.
3. You can see your ad performance for each ad slot. How many times it was displayed and how many unique clicks it received. You can cancel your bid anytime if you see that your ad is not performing well. You have total control. I actually bid on a website with 30000 page impressions per day for only 20 cents, but I eventually cancelled it after 2 days after seeing that I only got 2 clicks out of 60000 page views. 40 cents for 2 visitors? That’s expensive, right?
4. Even though you set the maximum bid, your bid will always be 10 cents higher than the lower maximum bid (if the bid is more than 10 cents). Which means that if your maximum bid is $1, but the lower maximum bid is only 20 cents, you’ll only be charged 30 cents per day. When someone bids a higher amount, let’s say, 40 cents, you’ll still be the winning bidder since your maximum bid is $1 but this time, you’ll be charged 50 cents. Get it? You’ll only lose if someone bids $1.10 or higher.
What does this mean for the publishers?
This means that you’ll be assured that you’ll get the money for the ad space since the publisher already paid Project Wonderful before their ad is displayed. They will pay you whether the ad is clicked or not because they are paying for the time the ad is displayed and not for clicks. Of course, you’ll send away advertisers if they see that their ad is not performing well, but if your ad spaces are properly positioned giving enough visitors for your advertisers, you’ll not run out of advertisers bidding for your ad space. This also means that you get the highest rate for your ad since the highest bidder get the ad slot, if your blog/site is popular enough and it attracts lots of advertisers, your price will increase eventually since the advertisers will try to outbid each other.
Another thing that I like on Project Wonderful is that the money you earned can be easily transferred to your Paypal account once it reaches $10, or you can even use it and be an advertiser at the same time. Yup, you can use it, be an advertiser and bid on other’s ad spaces using the money you earned from them.
Earning potential?
Look at my stats now. I set the minimum bid on this blog to 20 cents. With 5 slots, that’s $1 per day minimum earnings if the slots are all taken. Multiply it to 30 days, that’s $30! Get 75%, that’s $22.5 minimum earnings per month (25% goes to Project Wonderful). See, I’m just talking on the minimum, when all my ad space are taken, I’ll get a minimum of $22.5 per month. What if advertisers try to outbid each other? The possibilities are endless.
Because of this, I went ahead and put another Project Wonderful ad spaces on my text messages blog. Same rate, minimum of 20 cents. I think, it will be filled up by advertisers within 2 days, just like what happened to this blog. That’s another $22.5 per month if all the slots were taken. That’s an additional $45 on my pocket per month on my two blogs! And that’s just the minimum!
Project Wonderful is really wonderful!
This is NOT a paid post. This is an unbiased review based on my experience. I don’t even have an affiliate id here.
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