Jeremy Zawodny has and interesting post where he analyses where his traffic is coming from (ie search engines, bloglines, rss etc). He then goes on to analyze which reader sources convert best for him in terms of his Adsense earnings. It turns out that while Google readers earn him most (after all that’s where most of his traffic comes from) but that MSN and AOL referred readers have higher CTR.
He’s obviously got some interesting script to track his Adsense clicks. It’d be interesting to see this type of information from a wider variety of blogs.
His figures resonate with my own experience – anecdotal information points to Search engine traffic converting better than RSS traffic for most of my blogs also