'Advertising is the bread and butter of the web, yet most of my friends claim that they never click on ads, typically using a peacock tone that signals their pride in being ad-averse. The geekier amongst them go out of their way to run Mozilla scripts to scrape ads away, bemoaning the presence of consumer culture. Yet, companies increasingly rely on ad revenue to turn a profit'
'Who are these "heavy clickers"? They are predominantly female, indexing at a rate almost double the male population. They are older. They are predominantly Midwesterners, with some concentrations in Mid-Atlantic States and in New England. What kinds of content do they like to view when they are on the Web? Not surprisingly, they look at sweepstakes far more than any other kind of content. Yes, these are the same people that tend to open direct mail and love to talk to telemarketers.'
http://sethgodin.typepad.com/seths_blog/2007/12/your-ads-are...
http://www.zephoria.org/thoughts/archives/2007/12/03/who_cli...
Even off of ad revenue I was making low 4 figures monthly just by selling them directly. At least in the poker niche, when your blog gets big enough advertisers seek you out. I don't have enough experience in other niches to know if the same is true.
300K pviews a month is pretty good. Can you point me to your blog? I would love to check it out.
YCombinator seems to be a good example of monetizing what is more or less a <a href="http;//paulgraham.com">blog</a>. I guess the generalization would be to start a business that you and your readers would like to use.
Other than that, I think there's a perception that web ads are sleazy and that clicking them will lead you to someone who is trying to rip you off. The ad either needs to be from a known company, look like it was made by real humans instead of a corporation, or be from sponsors you know the site owner has dealt with personally be cause s/he sells hir own ads. Come to think of it, maybe some of your readers have things they want to advertise.