Most of us have done posting exchanges with other online friends, but what about social media exchanges? Where you agree to maybe Like or Comment on their social media and they'll do the same for you? Or each of you post about the other site on your own social media accounts?
You need a lot of likes to get powerful on social media. I doubt if this strategy would even be worth the time, even assuming you got all the people you know to do it.
I don't really like the strategy. It's very weak. Bottom line, you gotta buy likes (You can do that on Facebook.) or build incredibly interesting content that you can market somehow, either paid or free, to get people to like you - cause they want to.
This is something I have thought about and considered a few times but it would be whether it was worth it for both parties. You would need a lot of followers for anyone to see the links and such you shared and it may not make it a fair exchange.
Social Media follow exchanges I am all for though as long as they are done fairly and it is genuine follows.