Having links that point back to your blog is huge. This tells the search engines that your blog is important, otherwise why would other sites be linking to it. That's why getting backlinks is such a big part of building your blog.
There are many different ways to go about this process, today for the "Build A Blog Workshop" I am going to teach you about 2 of them.
The 1st, and in my opinion the easiest way to get a backlink to your blog, is to visit other blogs and to leave a comment with a link back to your blog after reading the post.
Notice how I say "after reading the post". It is very important that you don't spam other blogs with your link. Otherwise this whole process will backfire and get you marked as a "spammer", and this is something that you don't want to happen. Especially if you are trying to build a successful blog.
It is always best to read through the post, and then leave a comment that is relevant to what you've just read. Don't ever just say "Nice Blog".
The 2nd, and the other just as important way to build backlinks to your blog, is to participate in forums. I recommend joining and participating in forums that are in your same niche. The reason you want to do this is, if you go and participate in a forum about eating ice cream, and your blog is about dieting, you might get some backlinks, but nobody will want to come back.
Even though your main goal is backlinks, you also want the people that visit your blog from those links to become your followers. Kind of like killing 2 birds with 1 stone. This will not happen if what you are blogging about is of no interest to them.
Be smart when building those backlinks and don't spam!
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Great read, google is always changing the way they handle backlinks and anchor text.