Monetizing forums with CPM
You are allowed to place AdSense code on your forums with no limitations, but the problem is that AdSense (as well as other CPC networks) poorly performs with forums. People visit and participate in forums to discuss things and not to search information.
Forums are also not doing well with CPA (cost per action) networks - people are not in the mood to buy something when they browse forums.
The list of adv networks suggests that you should focus on CPM (cost per thousand impressions) networks (plus text link and direct adv sales) – they pay for impressions, not clicks. Exactly what you need – forum visitors can view 5-10 pages or more at one visit to your website.
But if you read, for instance, ValueClick guidelines you will discover that it is not allowed to use their adv in the forums. And this is a CPM network you can join more or less painlessly. Casale, BurstMedia and TribalFusion (other CPM advertising industry leaders) do not forbid the use of their codes in the forums (as far as I know). But it is much harder to be approved by these networks.
So, you should search for some second tier CPM networks that will accept your forums. As a result, expect much lower payouts. Try MammaMedia and RightMedia or contact other networks from the list asking if they are willing to accept forums.
Summary: CPM or any other kind of advertising is good for your forum or website when it is established. Do not spend hours of searching for networks and setting their code if you have low traffic.
This website also runs a forum on links that is supposed to be a sort of service. But it is ridiculous to place any CPM adv there with its traffic volume.
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