Just thought I'd give a quick update. We're finished off May with a little over $1600 and our daily adsense income is now over $110. So it seems we've had quite a big increase since last month

We're hoping to really pump that daily number up much higher in this month of June.
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So what exactly are we doing?
We research keywords using Long Tail Pro and SEMRush
We're looking for keywords with:
At least 1000 exact local search volume
At least $1 CPC
In the first page of Google the competition is:
Low PR (looking to see at least 2 PR 0)
Keyword not in description and title
Low quantity/quality backlinks
We're paying special attention to keywords that have other "sniper sites" (sites that contain the keyword in their domain name). A lot of times seeing this is a good sign that we can rank in the top 10.
For backlinks we will be using 2 different strategies:
1) Magic submitter to build 2 layers of backlinks. First layer is Web 2.0, Article Directories, Videos, Social Bookmarks. Second layer is Social Bookmarks and RSS.
2) Using a VA SEO team we hired through odesk to build content links on high pr blogs.