Banner Exchange Program
Generally, for every banner you agree to display, the exchange gives you a piece of HTML code that instructs the visitor's web browser to bring up a banner from the exchange program's server. In doing so, the banner exchange program can change which banners are on which sites and they can track the success level of particular banner ads on specific sites - information they use when pairing sites with relevant advertisers.
The upside to joining a program like this is that your site gains exposure on a variety of other sites for free. The downside is that you don't have much control over where your ads appear and what ads you will end up displaying on your site. That means you run the risk of not being particularly fond of what ends up on your site or where your site ends up being advertised.
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