[hanusoftware1]

Link exchange is the popular method of increasing page rank and generating maximum incoming traffic. But generating enough links is not as easy as it seems. There are many important things you should take care of before starting your link exchange campaign. Before discussing link exchange tips, we should understand exactly what a link exchange is. Link exchange is simply the exchange of your links with others. Every Webmaster wants the maximum number of visitors coming to his site for obvious reasons; his revenue and site popularity both increase with the increased number of visitors. But the basic question remains on how a Webmaster will be able to generate enough links coming to his site? There are two popular methods for creating the targeted links, one is manual and the other is the use of automated linking programs. Whatever method you choose for your linking campaign, remember that each has its own pros and cons. For instance, manual linking may take months to complete and automatic linking can result in untargeted and irrelevant links.

[ASFDesign.com]

There are more techniques then just two to increase the number of links to your site. To name few:
- Link baiting (where you design the content on your site so that other webmasters WANT TO link to your site/pages). Excellent for one way deep linking.
- Blogging on your own site pared with feed subsription
- Participating in forums, replying to blog posts and such somewhere else :-)
- Content distribution, where you give your content away for free for other webmasters to place on they own sites
- Press releases

Bu tall that aside when it comes to link building the most important factor is relevancy of the content of sites linking to you to the content of your site.
Otherwise it won't do any good and might even do some bad to your SERP.