I'm at the point where I feel I have a nicely outlined pitch that I'd like to direct toward companies regarding advertising opportunities on my blog/blogs. I would like to e-mail companies with advertising offers but I'm not sure if it's worth my time. Has anyone had success with this step?
Great question. All of my advertisers have either come to me directly or I've built a relationship with them. I think that most advertisers would like to work with blogs and build a relationship first before advertising. You could pay attention to other blogs and see who is advertising with them and then try pitching those companies. At least you know they are open to advertising. Keep in mind that many may be affiliates or even free advertising.
I do have my advertising rates on my media kit and I send that to virtually everyone I work with so I figure that if they are interested they will ask. For a long time I was always saying, "I'm attaching a copy of my media kit so you can learn more about me and my blog. Please let me know if you have any questions or are interested in any advertising." I can't say it was overly successful. Those who were interested in advertising usually bought from me but most weren't interested.
I have the most success with text link ads but they come to me of course.
I have done this and sent out email after email and I probably received a reply from 4% of those companies and 2% of those were interested in starting a business relationship. It might be a way to get started and pick up a few advertisers that way other companies will see that you are open to advertising (and have great companies advertising on your site!). After your site has been running a while and you are getting good numbers, companies will contact you...maybe even too many. Let us know how it goes.