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The importance of backlinking cannot be underated.  Majority of people after they set up their websites and blogs need to move to the next level of getting traffic to their sites.  It is therefore important to know how to link your site to other sites dealing with your niche. I have laid out in an easy to understand format for Internet Marketers to backlnk the easy way.

I think that relevant backlinks are more important, and NoFollow links are less important than what most Internet Marketers think. The importance and relevance of nofollow back links is discussed and debated quite frequently.

Some Internet Marketing Gurus also suggest very slow backlinking campaigns. While it's mostly agreed that a new site should not immediately start blasting out ten thousand links per day, it is probably overly conservative to suggest taking months to reach five hundred per day. A naturally popular website is very likely to grow at a much faster rate than that.

Consistent growth might seem like a good idea, but that doesn't mean exact consistency. A naturally popular website that is getting organic backlinks from real visitors is much more likely to have inconsistent growth spurts. It is unlikely for organic backlinking to happen in a completely consistent manner.

Internet Marketers could have oversimplified the topics of relevance, nofollow, and consistency very heavily. Following your advise should help someone just getting started that wants to build a solid long term website project.

I agree that the number of backlinks pointing towards your website is an important issue. But it could be a time taking analytical task that I don't much put my emphasis on. A good PR ensures that back links pointing towards your "Backlinks page" are highly quality. Page Rank is the best tool to analyze the real value of your back link.

Yes, they are important since they have less chance of getting deleted. They are good because you have a chance of getting targeted "Referral Traffic" through those relevant back links. But according to me, they have least impact on rankings than if they were dofollow back links.

Evaluate your backlinking to make sure you are doing it the right way and soon you will realize whether its working.