If you are serious about increasing your blog traffic, there is a great new site - MyBlogLog. MyBlogLog allows you to reach an audience of other bloggers, gather traffic statistics, create a community around your blog, and track your blog's favorite links, among other things.

There are two levels, free and pro. The pro service gives you real time stats and expanded widgets, $3 per month or $25 per year. I've been using the free service, because I'm mainly interested in the additional traffic, not stats.

I've been using the free version and seen an increase in traffic, especially for new readers. You can see the reader widget in my left sidebar (Wowimo Wackos) and my blog's favorite links in the right sidebar. I can see this same information when I use Google Analytics, but it's a nice way to let readers know what other people find valuable about the site.

Another great feature of the service is its added exposure when you visit other sites. Because MyBlogLog widgets are posted on many of the Internet's biggest blogs, when I visit one of these sites, my name and picture show up in the reader list. Perhaps someone will click on my link from there as well. Who knows? By using the service I do know I am building my reader base and "meeting" new bloggers.