I thought I would share a link building success story.... Applicable for link prospects who don't understand internet marketing.....!
I noticed one of my link targets had an extremely under monetized website high up on Google - for a keyword which turns out to have one of the highest CPC's on Adwords I've ever seen. The site as it stands was for information purposes only and a premium rate phone service.
Before even thinking about links, my first approach was to put in an offer for the whole site as I new I could turn this thing into a passive cash machine at the click of a switch on Adsense. After learning about the owner it turns out he was highly knowledgeable about his niche however knew nothing at all about internet marketing. This is where the opportunity came...
So we struck a friendly relationship and after exchanging a few emails about offers he decided not to sell.
I then provided tid bits of useful information on how to monetize his site, after following up on this he explained he observed substantial earnings. Asking for a link was now easy - but following my advice he actually volunteered to put a link and permanent banner on all his pages to my site.
Actually, that's a great angle overall. And on a closely related offshoot, there are tons of high quality Mom and Pop websites that are on page 2-5 in Google that might be happy to link over to you as well in exchange for some good old advice - of course only AFTER the relationship has been made. Makes sense why link building is really relationship building.
I think it boils down to discovering different currencies of exchange besides the usual template pitch "my content will benefit your users" which tends to get a low hit rate. However if the pitch is personalized to their problem, like above the results can be rewarding.