Alright,you have a plan for link baiting.Do you prepare your site like moving to a larger hosting account and start the job? And how often do you link bait?
Link baiting is anything that is interesting and people want to link to it and visit, rather than having you try to get them to go there. Ex. funny video, controversial content, etc. I would not change hosting plans unless the link baiting was a huge success and you were starting to get a ton of traffic that you wouldn't be able to support. I think link baiting should be done as often as possible, the more traffic the better.
i agree with DSeguin....first try to do something interesting that will get visitors attention and they will link to your site and they might pass it to everyone else...
People will come your link if you create some attractive content that withdraw an attention to your site
Viral Videos is a great option and also some interesting statistical blog articles which could be of geniune use to people. These are the 2 methods I use.
Link Baiting got much more expensive task for an ordinary web business entrepreneur, so this idea is not that work able when free do follow links are available in online blog running community as well as forums that allows you get links in many ways. keep your content things up to date and they would care your links demands. Best