If it has a decent page rank you could sell links, set up a page for guest posters to submit articles, list yourself on sponsoredreviews, social spark and ebuzzing (basically sponsored posts).
If you get traffic as well then banner advertising is usually better.
It depends on what the content/topic is and also may be linked to why you aren't making much from adsense etc. - e.g. if your topic/field doesn't lend itself very well to selling, then that probably wouldn't be an issue for selling links or advertising. However, if you aren't making much because the design isn't professional looking or you have lots of typos or it's simply not an area which will ever generate much traffic, then you'll find it harder without making drastic changes.
To get a good PageRank, in basic terms, you need either lots of low quality links or a few high quality links.
Selling links to other people has quite a few advantages:
- It's relatively easy to come up with a guide price
- It's an ongoing payment
- Buyers can't 'track' the results very accurately, so they are less likely to cancel their subscription (compared to, say, if they've had a banner ad up for a while and no one's clicking on it any more) as they are scared of losing PR/position
- It's easy to create a 'chain' (e.g. if you attract one web host, chances are several more will come your way)
Disadvantages:
- Extremely frowned upon
- Can potentially result in penalties for your site
- Typically lower prices than banner advertising (unless you combine the two).
For selling links, your position in Google doesn't affect things - it's the PageRank that's important, along with who else has bought links from you, what your site's about, and potentially what/how many backlinks you have.
