I am using an ad platform to serve ads on one of my website which is having around 5000 page views a day through organic search alone I am getting around one to two $ in a day Am I lacking something here or is that the maximum ad revenue I can generate from this? Any kind of recommendation is welcomed here ca someone tell me more about this?
Since you asked a very general question, I'll put the notes required for you to understand.
Maximum Revenue that you can make from the website depends on a lot of factors:
Landing Page Experience
If your website has a good landing page experience and serves good content or value to the user, the user is more likely to click on the advertisements as long as they are relevant and fall under the user requirement.
A poor Landing page experience can cause increase in bounce rate, which will not only lessen your ad revenue but also hurt your rankings.
Content Relevance to Ads Displayed
If your publisher is going to display "Category 1" advertisements to "Category 2" the chances of making money out of it (getting an ad click) is very minimal.
So the publisher you have selected should either display "Category 2" ads to "Category 2" or display ads that are relevant for the user.
Average User Time Spent on Page
The average time user spends on a page is very important as this will help you make more revenue.
For Example, if an user spends too much time on "Category 1" publisher who advertise for "Category 1" services are likely willing to pay much higher. (Maximize Conversions?)
Call to Action (CTA) displayed on the advertisements
If the advertisements being displayed on your website are too sloppy or does not provide a clear call to action, it not only affects your revenue but also the publishers ad spend.
The reason why I included is this to let you know to choose good publisher or advertising platforms for better revenue.
Ad Banner Space displayed on the website
If your advertisement banners are not in the recommended places that everybody is generally adjusted to watch advertisements, you will be potentially losing clicks that get your revenue.
So do ensure that your Ad Banner Space is somewhere that can be noticed by users naturally; fits in the context and content.