It means you've got a page that generates low value clicks, and that is all it means.

Put together a 1,000 or more of those pages and you'll have a nice income to work up from.

Questions to consider:

- Why was the clickthrough rate on that page 37 percent?

- How many of those 209 clicks (out of only 550 impressions) converted for the advertisers?

A 37-percent clickthrough rate sounds awfully high, so "smart pricing" seems like a reasonable guess.

You might want to try this philosophy:

If Google doesn't value your ad/page, then take it away or give it to someone who does value it (ie another form of advertising)

The value of a click depends on niche, as well as the quality of your traffic. If you're delivering bogus traffic, of which I am under the assumption, expect bogus payment. The old mantra 'you get what you pay for' is in full effect for advertisers too.

Google is known to look at pages with a 20% CTR or more to make sure it follows its guidelines, so make sure you're squeaky clean. 37% is very, very high. Are you sure the users are not being tricked into clicking? If not, the advertisers may be paying very little EPC if they deliver a constant high CTR with attractive ads (ex: "Click here to hear the fart sounds! You know you want to!")

209 clicks for 555 impressions would make me drink a beer to chill the nervousness and would probably keep me looking at my Adsense account for one last time.
I can only assume that there is very little content (or no content) on that page and the users have no option but to click on an Ad to get outta there..

Took this one as example because is the higer CTR page in site. Some others are below 5% and less.

If Google doesn't value your ad/page, then take it away or give it to someone who does value it (ie another form of advertising)

Certainly there are no tricks in page at all. Site has good traffic mostly from Google itself, if clarifies this post perhaps nature of content leads to no conversions and thus makes google pay 0,01. I belive TOS don't like to say what contents are those.

It probably also makes a difference WHERE your traffic is coming from.

If your traffic is coming from a different place than your ads may be targeted, you could be getting smart priced for that - i.e. if your traffic is from india but most of your ads are for us goods and services.

Some others are below 5% and less.

Do the sites with the lower CTR pay you more per click on average?
If so, does the nature of the content on those lower CTR pages differ in any way?

A 37-percent clickthrough rate sounds awfully high,

Yes, but the number of impression is too low to really make that meaningful.

so "smart pricing" seems like a reasonable guess.

Guess being the operative word. There's no way to tell what smart pricing is doing of even if it's involved.

Guess being the operative word.

That's why I used the word "guess."

Adsense income in 1 month of this single page: $3.09
Ads clicked 209
Adsense page impressions 555
CTR 37.66%
ecpm $5.57

Are you sure you are not breaking the Adsense TOS by stating specific account statistics? Be careful..

I can't remember, are clicks on cpm ads counted?