How to attach advertisers to my site?

Alright so I have been working on my site for a few months now but still have yet to get any emails from potential clients looking to advertise on the site...
I have ad banners that talk about advertising on the site similar to BHW's own ad banners and I have a link to advertising in the navbar.

Here's some quick site stats:

Alexa world wide ranking: 762,500
Alexa backlinks:51
Indexed pages: 5590

Does the sites ranking still need to improve or would other tactics I'm forgetting help here?

The site is the same one that is in my sig.

Use PPCs. advertising networks like adbrite and kontera, along with your banner selling. That way your add units are not empty.
Also those sites try to sell ad spaces on your sites too...

Great question!

I'm not sure if you have done this already but have you tried showcasing the amount of traffic (unique visitors) your site receives in a given day, week, month? Generally businesses who buy banner ads online focus on this metric almost exclusively. If they can't see that a lot of eyeballs are viewing their products/services, they won't be enticed.

The other side of this is the demographics of your site's visitors. What age range are they in? What do they like to do in their spare time? Where are they from? Answers to these and other important demographic based questions may be difficult to come by but this is what businesses who advertise online like to know.

Also, I would venture a guess that many businesses advertising online (unless they are advertising SEO or Web Marketing services) don't have the slightest clue what an Alexa ranking or a backlink is and therefore it may not have the impact that you are looking for.

Check out the information on these websites for more ideas,

http://www.blogtrepreneur.com/2008/06/17/how-to-attract-advertisers-to-your-blog/

http://orbitscripts.com/blog/2011/04/tips-and-tricks-to-attract-advertisers-to-your-websites/

Good luck!

Shawn