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I’ve always found that text links work best for conversions. Banners vary depending on how they look, their animation & the message. BTW I have a buddy who is great at creating banners:
20dollarbanners.comMost discussions about this agree that text links are better. I may be a bit biased since we don’t carry a single banner on our site, but text links work just fine. They work even better if you can put quality copy around them.
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