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Why would you rather do everything yourself instead of having Google just send you a check? I mean, I know they get a cut, but they also are the best at actually getting click-throughs on their ads. My husband's employer nets in the millions and a huge chunk of their income is from Google ads.
I suppose if you're looking to vet each advertiser, to imply that your site only accepts ads from products they support, then I'd try to go with a flat rate for ads, like they do in magazines, rather than try to deal with counting clicks.
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