I've tried this before with very poor results. I've heard it works but I've only had one spawn for me after 10 or so incense. If you're out walking around why not pop one if you have it. I usually just get tired of catching my incense things when there's a nest pokemon I came here for just up ahead.
GamePress
Do Incense/Lure Modules Increase Nest Spawn Rates?
If I take incense/lure modules to a nest, will it spawn more of the nest species?