I've never had great success with affiliate programs. I send them tons of traffic and they fail to convert so I end up with nothing or at least very little. A recent email made me think that could change.
They generate leads for tour guides and they want people to request free travel brochures. The original email said that since the brochures were free, conversion rates tended to be high. I have a ton of travel traffic so I figured I'd give it a shot.
In the first day I sent them 84 people. I earned $0. Now obviously I can't make money if I'm giving my traffic away for free. I really don't need a poorly performing affiliate program distracting my readers from Adsense and the text links that actually pay so these guys get a few more days but if I've sent them 1,000 visits and they're still not paying for that traffic, my latest foray into affiliate marketing will end as all the others have.
You get 20 short articles written and published on 20 different sites (spread over 20 different IPs) rnaging from PR 4 to PR 6 (though the page your article and links goes on would be lesser PR - I'm not sure how many clicks away from the homepage we're talking about). This comes to about $75 an article.
Each article contains about 10 links (you choose - they recommend 10 but I would vary it some - 7-20 works for me). Say you go with 10, each link cost you $7.50 as you end up with 200 links.
This is probably the best way I know of to get lots of deep links to lots of your content pages fast.
While I applaud transparency - they link to the 20 sites that where they put these cutom articles - it does pose some danger. Right now it would be very simple for someone at Google to stumble across the page and find out exactly which 20 sites are selling links and who is buying. Google might decide to penalize the sites involved (consider Matt Cutts recent attack on another link building service). Considering that this is marketed as a way to get links, not a way to get human visits, I do think buyers should consider this.
I don't know if I would call this reducing the risk or spreading it around, but it seems like you can involve a few sites when you purchase this service. So I might have 10 articles focused on one site and its content, 5 articles focused on another site, and then 5 articles that talk about my network of 4 sites and link to parts of all 4. Don't quote me on that though. If you plan something similar talk to them before you buy and make sure I haven't misinterpreted.