Did you know that there’s yet another way to make some money while you blog? That’s right. A new company called Loudlaunch recently opened up and the site allows bloggers to be paid for blogging about advertising campaigns that posted by advertising members of the Loudlaunch site.

Loudlaunch is a benefit to bloggers in that they can write about products or sites that fit well with their own blog, or about sites and products that they are interested in that they believe their readers would enjoy hearing about; and advertisers have a great way of getting word out about their new site, or about specific products on their site. Advertisers can create an advertising campaign for as little as $50. The bloggers make money by writing about the advertisers promotions and the advertisers get more visitors to their sites and perhaps some new sales as a result. Everybody wins.

When a blogger signs up with Loudlaunch and puts their site up for review they can select which categories their site best falls into. A formal review of the site is done by a Loudlaunch team member and they might make slight adjustments to the blogs listing. Advertisers can select which type of blogs can write about their campaign via the various categories that the blogs end up being listed under.

The amount that a blogger is paid for each campaign that they post is determined by their blogs rating. Such factors as a blogs standings via Alexa, Technorati, page rank and possibly a few other factors come into play as to what the blogger will be paid. Bloggers will be compensated anywhere from $5 per posting up to over $200 for very high ranking blogs.

One thing that I like about Loudlaunch is that at the bottom of each post a disclosure will show that declares that the post is sponsored. I also like that advertisers can’t require a positive spin or tone to their campaigns. Bloggers can write what they feel, however if they feel negatively towards whatever an advertiser is promoting I don’t really see much reason to promote the product. So I’m assuming that most reviews will be neutral to positive depending upon the bloggers point of view.