If I get an expired domain name that has a great backlink I want (from a major nationwide newspaper) and 301 it to my site, will I effectively get the SEO goodness from that backlink as if it was linking directly to my website? The backlink would be relevant to the topic in the article that the backlink is in and could even be deep-linked to information directly relevant. So, not a bad user experience. Obviously, the link can be removed by the article publisher but that is less likely to happen as now the link is no longer broken (because now it is linking to somewhere) and won't get picked up in broken link reports. Given the low cost of the domain name and the small amount of time required to set it up properly, I'm hoping that this is a way to get a great backlink.
Yes. There is an alternative strategy which is to create a site on the domain and link it to yours. Less reward but less risky, and potentially more useful depending on the niche and what sites you already have. Don't forget to check for penalties and the history of the domain and any previous sites on it before redirecting. Don't want to redirect penalties to yourself.
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