Link bait is not nearly as dubious as it sounds. A link bait blog post is simply a blog post that encourages other people to share it. The goal is to create content so compelling that people share it on social bookmarking sites like Digg or StumbleUpon as well as on social networking sites like Facebook and Twitter. If you're lucky, some bloggers will summarize and link it on their own blogs.
Good link bait can simply be great information summarized in a condensed post so that readers don't have to look for multiple resources.
Examples of good sharing include:
Lists posts are great link bait. The Best Sites to Find Graphic Design Work or The Top 50 SEO strategies of 2011 are examples of good titles for list posts. Any post that provides of list of resources is sure to be shared.
Trending topics generates a great buzz. Twitter displays a list of trending topics when you sign in. Google Trends also shows you hot topics for the day. Pick one of these topics and write a blog post about it. After you've written your post, make sure to share it on Twitter and Facebook. There is nothing wrong with cashing in on a hot topic.
If someone else has written a blog post or created a video that you found useful, summarize it and include a link back from your own blog. You can share other people's content and still generate link bait as long as you avoid copying their work and give them proper credit. Many bloggers will appreciate the link and reciprocate.
Stir The Pot
There is nothing wrong with creating a little controversy if you handle it tactfully. Sometimes a nay in a world of yay's can receive a lot of attention. If you disagree with popular opinion on particular subject, then it can make for great link bait. However, be sure to express your opinions intelligently with good reasoning or examples to back them up; otherwise you are just starting a flame war.
If you have experience or expertise on a certain subject that others are looking for more information on, that is potentially great link bait. For example, many people don't understand how to fully utilize LinkedIn. Write a post on how to create a killer LinkedIn profile or how to find a job on LinkedIn and people will want to share it.
People are most inclined to share information that makes them look like a valuable resource. Your goal is to provide them with resources. Provide information that people want, need and/or are looking for and you are automatically creating link bait.