I have recently come upon some minimal information on "click flipping" and wanted to know if anyone else knows more about it. As far as I understand, it is a method of cashing in on affiliate referrals for memberships, opt-ins etc. The name apparently comes from the similarity to flipping houses. In this case however, you use cheap ads to drive traffic to pages where people sign up so you can get affiliate income. In essence you pay a little to run your ad and get a big commission when some one signs up.
I've seen sites that advertise on Google just to go to a page full of links to other sites. I guess that's what they're doing. I find them irritating so I always leave but I guess they wouldn't do it if it didn't make them money.
You place ads to the page using AdWords. The page is made in a way that you hope will get a lot of the visitors to click back to AdWords, and give you more money than how much you spent to get them there. Flip flop the visisitors all over.
It is always a good idea to bid lower and display higher paying ads. One can also consider using two networks like Miva for getting visitors and adsense for displaying ads. Bidding is lower on Miva when compared with adwords for the same keywords.
Yes, this term was coined by Scott Boulch. His basic method is to get traffic from Google Adwords and send it to CPA offers from places like Azoogle. He was the guy that did the Death of Adsense report and the Life After Adsense report.