In his recent blog, Five Pillars of an Internet Marketing Strategy, Harvey Rivet uses this method as one of his pillars to increase your web presence. This is a great article by the way and worth a read. A Facebook page and a Twitter account are also great spokes as long as you keep them active and well maintained. You can use the other major blogging sites such as Squiddo, HubPages, Huddle and a new one called iThinkRevolution. (Shameless self promotion warning!)
If you need some more spokes, get a free consultation from the experts at The Cutting Edge Pros. They can set up and maintain blogs, Facebook and Twitter accounts for your business that will draw visitors and get your page rank increased. Contact them today and become a force to be reckoned with on the web.