My site is on 5th # on google. Should I go for sponsers. I mean find someone who is interested in paying for advertises?
How should I find the relevant sponsors? And how to ask?
You aren’t going to sell any ads because you have a top 10 rank on Google, you’re going to sell them because you have something of value to a business – potential customers.
While traffic is just one dimension to determining if you should and can get advertising, let’s start there. Is your site getting 500 visitors a day or 500,000? What’s the topic?
Have you considered any of the CPA networks? (and there are a lot of them)
You’d probably make MUCH more than with a simple ad and you would have total control over what shows on your site.
Just do a search on google for “CPA networks” and you should find a couple of directories giving you a list of them. there’s an affiliateseek or affiliateseeker or some such that I’ve used in the past (should be near the top of the search results) that I thought was pretty good.
If my site is related to an education and I know there may be some institutes who’d like to display their ads. How should I convince them? By showing them the number of visits I get? Or what?
Contact them, give them traffic stats, give them a better deal than they could get by going through a CPC network (e.g. google and bing).
Again, why not look at CPA networks? If your site actually gets traffic you could probably make MUCH more.
To main factors that you need to consider:
- How much traffic are you currently receiving?
- What is the niche?
This will determine the value of your ad spots.
It really doesn’t matter on the position you rank in the search engines to the advertiser. 
But what about organic search results? This really does not matter?
Opportunitist, do you have experience of working with PPC?
You can actually try to get people interested by making a thread on webmaster forums such here on Sitepoint, asking if any webmasters are interested in advertising on your site. All you do is make a thread, and list out the details of your site’s traffic.
As an advertiser my only concern with your rankings and traffic sources is the quality they bring and on a reputable site this isn’t an issue. I’m not paying based on your Google spot, I’m paying based on who is on your site and what value they can bring to my business.
Thanks for the answer, Ted!
You must do it.
AdSense, Adbrite, Fidelity Media, Value Click wait you!
By quality, what do you actually mean? Do you mean Niche?
That’s certainly a start. There are quite a few ad services out there where people pay for ads and you display them on your site. The first (and main) question they ask you is how many site visits you get per month. Unless it’s quite high, they won’t be much interested in their ads appearing on your site.
When you say your site shows at number 5 in Google, what does that mean? The probalme with that idea is that it will only show there if you type in something in particular. E.g. if I type in “bananas” I’m sure I won’t see your site at number 5. So what gets your site to number 5? Typing in your site name? Well, that’s no surprise. The real question is where your site ranks for the word ‘education’ and similar.
you can approach by mail but before that you must share google analytics result and adplanner should be on.
I’ve never asked a site for their analytics to buy media with them. Instead most produce independent third party reports when possible or a simple top level traffic number for smaller sites… detailed analysis is not something you should be sharing with anyone, especially someone in the same field you are in.
for this you need third party services. Like one is buyselladds.com
It is somehow complicated how to contact a business to place ads but you have to be honest to them. Tell them about your site and the cons that they will earn advertising to your site.
What number of visitors should you have before you can think of asking anyone for that?
I am going to be honest, none of the three websites in your profile are going to be making you much money. Being top 5 on certain search terms does not mean much. I am sure I am top 5 in a couple of hundred two or three word terms, but there are only a handful that give me more than a dozen visitors a day.
I know some have been talking about CPA, but I am more of a fan of CPC. My latest adventure with affiliate advertising has been disappointing. So far, I am looking at disappointing click rates, and horrible conversion rates.
Impressions: 12,790 <- high correlation of unique here. Each unique probably saw on average 2 pages before bouncing.
Clicks : 18
CTR: 0.14%
Actual Sales: 0
This is what I do not understand, the advertisers have been unable to make a sale or generate a lead from any of the 18 clicks?
While the temptation to monetize the site is probably high, I would concentrate on building them up and filling them with well researched quality content first.
Start with Google AdSense. It’s by far the easiest network to register with and has the highest acceptance rate.
Commission Junction is pretty good too.
Good luck!