Here is the rundown on how different mobile advertising networks can help you monetize your mobile site.
The space is divided into the following categories:
Global ad networks with a broad footprint: with these networks one can get the widest reach possible - i.e. ads will be served for almost every market in the world but CPMs will be suboptimal. Examples are Admob, Admoda, and Mobile Google Ad Sense.
Regional networks with coverage of several countries: these networks are focused around certain geographies. Through this approach they promise access to local advertisers, and therefore to deliver higher CPM and fill-rates. Some examples are: Mkhoj (India, Indonesia, Philippines, Thailand, Malaysia) and Quattro Wireless (US, Canada, UK).
Local networks: these providers would undoubtedly deliver the highest CPM's and very decent fill rates. Unfortunately these could have dry spells, especially during this economy, during which they may not have any campaigns whatsoever. If your property has a global footprint and you have business development resources it is definitely worth it to go after these partners. Make sure your site's ad serving platform is able to quickly shift traffic in a moment's notice if fill rates for one network fall below acceptable levels.
Network Optimizers: their value proposition is that they aggregate many of the ad networks described above and for a decent, but higher, share of the CPM they will serve ads from the providers that are likely to deliver the highest CPMs and fill rates possible. Another advantage of using these optimization networks could be a one-time versus multiple integrations. This point should be taken with caution because you do not want put all of your eggs in one basket. Examples are Nexage and AdMarvel.
Other big names mobile advertising networks are (most are limited to a few geographic markets):
Ring Ring Media (UK)
BuzzCity (US, part of Africa, part of South East Asia, and India)
Mobile-Worx (Zest Ads) - mostly India
Third Screen Media
Third Screen Media
Dealing and integrating with one or, ideally, multiple of these companies can be complicated as there are very few or no standards in mobile advertising. If your inventory justifies it having a dedicated resource to manage advertising on your mobile site can really help optimize revenues.