Squidoo is one of those secret weapons that at one time was a huge SEO favorite. A backlink from Squidoo used to carry a lot of weight by itself due to the high page rank of the site.
This is less true today, as is the case with many SEO favorites. The value of the Squidoo link faded as people abused the process and Google has changed its algorithm multiple times since Squidoo’s heyday.
It still has a role to play though, together with Hub Pages, blogger and similar sites. It is a great place to establish a link to your “money site” and then build backlinks to the Squidoo lens using various bulk linking strategies.
I used to use SE Nuke to build bulk backlinks. but now pretty much rely on fiverr to create them. However, instead of sending these backlinks to my target sites I send them to the Squidoo lens.
By backlinking my backlinks sources, especially higher page rank ones like Squidoo, I get my individual lens the attention from Google I need to transfer that link juice to my money site.
My most recent example is a lens on Unclogging drains.
My linking to the Squidoo page, I hope to transfer Google juice ultimately to my target web site for a Minneapolis drain cleaning service.