Ad swapping can be one of the easiest ways to generate traffic, if done correctly.
Most importantly, before considering any of the ad swaps below, make sure you're only swapping with people you've known online and who have high business ethics. You don't want your name associated with someone who makes your business look bad.
Newsletter Ad/Recommendation Swap
If you know an online business owner who writes a regular newsletter and has a following, and you are both reaching the same target market, then ask to swap ads.
Blog Recommendation Swap
Recommend a friend's products or services and then send them the link. They may do the same in turn. Of course, you can plan an ad swap on your blog, but sometimes this is the nice networking way to do things.
Blog Roll Swap
Set up a Blog Roll on your blog. This is set up automatically in WordPress, but must be done manually in Blogger.
Once you have your Blog Roll up, then start linking with other blogs. Contact the blog owner for reciprocal linking or just find some blogs you like add them to your blog roll and then contact them to let them know that you've listed them. They might return the favor.
Website Link Swap
This is the standard that everyone thinks of when they hear “Link swapping”. Yes, you can do the standard link swapping and it works. However, we recommend that you not invest a large portion of your time soliciting links from people who you have not previously worked with. It's considered spammish by most successful Web Owners to receive link requests from people they don't know.
Thank You Page Swap
Listen up. This is an often-times overlooked method of link-swapping. If you have a newsletter list or autoresponder, usually your visitors are sent to a “Thank you for signing up” page after they’ve filled in their email address and name. Why not put a special offer up there for an affiliate program -– or trade ads with a friend who reaches the same target market as you do.
Got an affiliate program? Offer to swap ads AND let the other person use their affiliate link in their ad. They benefit from the ad swap because their ad reaches your list and they will make money from all sales of your product that their guests purchase.