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Originally Posted by bcowan
1. I didn't get any traffic from the links in my exchange, mainly I suspect because many 'hide', or at least don't have prominent paths to their link directory.
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That is why most probably you will never link to them. Silly they made such a silly mistake.
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2. Most of the link requests I received came from completely unrelated sites simply wanting to exchange with the 'any link is a good link...' mentality.
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Yes, this is a real problem. Believe me, it is very hard to construct professional and effective search algo that finds you relevant partners. The automated searches that do simple keyword stuffing into Google and compare with meta = waste of time.
The good link searching algo is a real masterpiece. But if 2 guys invented algo for the search of sites, it is possible to invent another algo that takes important factors and gives relevant sites, putting irrelevant to the trash bin.
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3. Most of my 'link' traffic (99%) came from high quality, high rank sites directly relating to my niche.
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Exactly. Why should anyone do other type of link exchange? Those who do it just for the sake of quantity of links don't understand what is link exchange.
In terms of business, link exchange is establishing reputable online business relationships with the site. And this absorbs anything you have mentioned as your successful experience.