1. Serve the user. If your site has intrinsic value, users will come back, and you'll earn far more than you would from a single visit. (You'll also benefit from word of mouth and unsolicited links from other sites.)
2. Be fair to advertisers. If you try to artificially boost your clickthrough rate by disguising ads as content or overwhelming the visitor with ads, your clicks won't convert well for advertisers. This may result in higher "smart pricing" discounts for your clicks (meaning less money for you), and you'll be a poor candidate for site-targeted CPM ads.
3. Think long-term. Ask yourself what will happen if you're dropped by adsense, if advertisers get more control over where their ads appear, if "smart pricing" becomes more aggressive in cutting revenues for sites whose clicks don't convert, or if other changes affect the status quo. It's tempting to go for the quick and easy money, but unless you have the technical and business smarts to earn a lot of money that way, you'll probably be better off with content that can earn revenue in multiple ways over the long haul.
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