Anybody who takes the time to write a blog or contribute to a website of any kind, has at one point or another thought about what it would be like to be able to live off the income generated by a popular, successful site.
That gets people thinking "how much money CAN you make with a blog?". For those that already have a blog or website that is generating income, the question becomes more of 'how much SHOULD you be able to make", but either way the point is the same.
So what kind of revenue numbers should bloggers expect to see? Since there are myriads of ways to make money with your site, I am only going to be dealing with Adsense, since its the easiest and most common way that bloggers monetize their sites.
My research and personal experience has shown me that you should be able to expect around $0.50 to $2.00 per 1,000 views on a given website. Keep in mind that this is a long term average, and is what you would see after at least 10,000 views or more have been logged. On any particular week or month you may get 1000 hits and only get $0.10, and another month maybe 500 views and $7.00. So its just an average.
If you are consistently getting less than $0.50 or so per 1000 views, you should look at optimizing your ads. I will cover specific techniques for doing this later, but a couple of things to look at would be ad placement, design/color, etc.
If you are always getting more than $1.50 to $2.00 per thousand hits, then congrats you are doing very well at converting your traffic to money. Don't be upset if you can't get really high monetization rates though, it just isn't always possible. Focus on increasing traffic instead.
That should give you guys a general range to expect and a benchmark for trouble shooting various techniques you may want to try.
-The Money Monk