It can help a great deal. At the very least you are getting a link from a high PageRank site. The true benefit will come only if you get some momentum for your story. If you are lucky enough to make the homepage many other sites will link to you. Hope this helps
if u have been to third world countries.. you might have seen some Daily Hot Newspapers posted on street walls near busstand or public place. Those are for the masses who cannot afford a newspaper. And only front and rear pages are posted there. Huge amount of public view those free newses and lot of rush every day.. specially the newses that are hot and made it to the front page.. Digg is like that Its traffic is worth that. Huge rush of traffic worth nothing... they want to see interesting newses and gossips.. nothing more.. no sales letter no website for sale.. no advertising .. no money they have to purchase anything from digg.. even they have they go to ebay or any other online market place for shopping.. got the point? its a social news site.. stop spamming it..
Digg can help to increase your visibility generally, but as "surf4fun" points out - most users of these sites might not take too kindly to you if you constantly submit every piece of content that you write. If you want to make the Digg front page, take the time to craft good content. If you don't have a good article to begin with, even if you add hundreds of friends and they vote for you, it's unlikely that you'll stay on the homepage for long as your content will be marked as "spam." You won't make any money from advertising as many users have ad-blocking scripts, but using Digg will help you in other ways, such as: Reach influencers – by submitting your content you can reach key “influencers†on the web. Since most of these influencers have their own websites, reaching the popular pages will often mean that they will link back to your website, which helps you to climb up the rankings in search engines. From the FederatedMedia advertising page: 39% publish their own blog http://www.federatedmedia.net/authors/digg Build authority - reaching the front pages of Digg will help you build trust with your audience as they’ll come to regard you as an expert in your field. Grow your brand – You can almost think of it as a form of public relations. You are increasing your visibility on the web and again, this helps you to gain trust with your audience. Drive traffic – social media sites will definitely drive traffic to your site. If you reach the popular pages you can attract a large number of visitors to your page that might otherwise take months to achieve from traditional internet marketing methods. Spend some time becoming involved in the Digg community before submitting your own sites, and make sure you write quality content.
This is great advice. I think it applies to any web 2.0 sites. Take the time to understand how the community works first, then decide how/if you can profit from it. Of course, most of us get it backwards.