Blogging fiction is hard work, and it does not attract the number of subscribers that others kinds of blogs do. (For one thing, with a regular blog, people can miss an entry and still be confident of understanding newer entries. With fiction, they feel that if they've missed one, they're permanently behind, even if they can take up where they left off.)
Still, I'm blogging serials myself, although I only start with fiction I've finished and polished. And at the moment, I'm posting a novel I've already published - Wife of Freedom. Although I may serialize some novellas pre-pub later on.
I figure, even if you don't get much traffic, it's one more place people can happen upon your work. It also makes you much more aware of how important every paragraph is, because you never know if someone might come in the middle and skim - and decide whether to click on the first chapter link or not.
http://daringadventurestories.blogspot.com/
Camille