Link Wheel is a widely used strategy in Internet Marketing. The basic concept is "web 2.0 properties linking with each other and also linking to one of your money site".
To build a link Wheel for your money site lets say you pick 4 web 2.0's - blogger, wordpress, squidoo and hubpages. Write four unique articles for each one of them. Once the articles are posted all you need to do is link blogger to wordpress, wordpress to squidoo, squidoo to hubpages and hubpages to blogger. This will complete our circle. but wait!! Your work is not done yet. Now you need to include a link to your money site in every web 2.0's that you just linked with each other. This will complete your link wheel.
Link wheel is done to pass link from one site to another, building up the value of each link. And the links should be one way i.e from blogger to wordpress, wordpress to squidoo, squidoo to hubpages and hubpages to blogger. Not this way => "blogger to wordpress, wordpress to blogger, wordpress to squidoo, squidoo to wordprss" and so on.
An added advantage of link wheel is that even if one of the links in the wheel goes down(google penalised), you can always replace them with another web 2.0. You can use hundreds of web 2.0's in a link wheel, if you're willing to write that many articles.
Example in image below:
Following are some top web 2.0 sites for link wheeling:
1. Blogger.com
2. Wordpress.com
3. Squidoo.com
4. Quizilla.com
5. Hubpages.com
6. Blog.com
7. LiveJournal.com
8. Weebly.com
9. Wetpaint.com
10. Blogsome.com
11. Jimdo.com
12. Tumblr.com
13. Blinkweb.com
14. EzineArticles.com
15. Onsugar.com
16. Prlog.org
17. Devhub.com
18. Yolasite.com
19. Terapad.com
20. Beep.com
21. Webnode.com
22. Viviti.com
23. VOX.com
24. Zimbio.com
25. Knol.Google.com/k
26. Webs.com
27. Xanga.com
28. Ning.com
29. Gather.com
30. Zoho.com
31. Friendster.com
32. Plurk.com
33. Multiply.com
34. Bebo.com
35. Hi5.com
36. webspawner.com
37. edublogs.org
38. salon.com
39. wikidot.com
40. rediff.com
41. officelive.com
42. angelfire.com
43. yola.com
44. posterous.com
45. tripod.com
46. typepad.com
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