Have you ever linked out to other communities in your niche? If yes, how did it work for you? I know I used to do it, but not so much anymore, as the other communities like to copy my content and such. So, do you link out?
I have linked to many other communities in the same niche as myself. Normally if they are beginning or if they do not have much activity I will try and help them out as much as I possibly can. If they are a larger board with a lot of content that is original or beneficial to my members then I will also link out to them. It is always nice to help out other communities and they will possibly remember this and help you out if you are in a tight situation and are in need of some help.
Why would you help them out though? Especially if they get the idea to create a community similar to yours. So, since you allow it, do you let members link out?
I always try link to atleast a slightly different niche, never the exact, but i have before and its never been a negative result.
I did active link exchanges for a mini-site once and it got plenty of visitors and even generated sales for the product being sold on the site. But, the link exchanges weren't for an exactly matched site. The mini-site was about ONE specific beauty product where as the link exchange partners were more generalized sites for beauty, health care, etc. So there was very little competition. At least, there was no fear on my part that I would lose real customers to anyone heading off the links page. Link exchanges can work really well, just depending on the site. As for providing one way links to other sites or forums in the same niche, I don't see how that would help out, at all. A link exchange would be better. Still, there's no guarantee you will get good reciprocal traffic.
Yea, its just a chance you will have to take. And it depends on your site's niche, how much Link exchanges will benefit you.
I think the only real benefit from this is getting members from the other community, but really there's no point if your community is bigger and has a nicer audience.