When considering buying text links, ask yourself, "What do you hope to gain from the link?" To help understand this question, consider these follow-up questions. Are you looking for traffic? Do you want qualified traffic? Are keywords a requirement for the anchor text? Do you want to become an authority? These are all good reasons to get links.
What are the options?
So, you have balanced text link buying with your risk list. You have determined the value of buying links. No problem with that, it is no different than advertising. The next step is to look around and see what is available. Determine the costs. Identify what you want with regard to link placement.
There are many different options for purchasing text links. There are enhanced links. There are sponsored links in a themed niche directory. These are quite effective. There is the text link on the homepage of a related news site.
"Link" context.
Notice these terms, related, themed and niche. They are not used loosely. There are three key elements to consider when buying text ads for linking, when the goal is converting traffic. These are placement, anchor text, and relevancy.
Getting to your website.
Once the initial goals have been considered, the next is to consider the form of the link presented. Ideally, you want a straight static link. Javascript is to be avoided, if possible. CGI-BIN or other programming redirects are definitely not good. Also, avoid links in frames.
Benefits and costs.
The final consideration is cost. First, look at the traffic the site receives. Determine how focused the site is. Consider the page where the link is to appear. How organized and clean is it? How many other links are on the page, and in what form? What linking power does the page have? All of these help to determine the benefit/cost relationsip.
Conclusion.
Do not run around simply buying text links. First, consider how it affects the rest of your site promotion and linking strategy. You do not want to shoot yourself in the foot with an incomplete approach.
Ask yourself some questions before buying text links. What are the potential risks? Is this a long or short-term strategy? Buying text links to jumpstart a linking strategy is equivalent to buying keywords in a pay-for-placement search engine. It tides you over while the natural (unsolicited, beneficial) methods take form.