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There are many things made link building very important but hard job search engine optimization of a website. These are:
Impact on Search Engines:
When you type in a particular Keyword or Phrase in search engines like Google, these search engines will search in their database for that specific keyword and finding all the websites in the world for that keyword or related to that to provide the best result to the user. So, in this long process, search engines have and use a very complicated algorithm to find out the best result and look for phrase or keyword on different websites and then analyze which particular link is relevant to that keyword. If your site URL is on different well ranked sites and if they think that your link is important and relevant to point you back then there are chances that your site will rank well on Search Engine Result Pages i.e SERP.
Global popularity:
The more popular your website is, the more crucial the links from the website is. A site like Wikipedia has more than thousands of different sites linking to it, that means it’s probably an important and a popular website. To earn authority and trust with the search engines, you will need to have the help of other link partners.
Topic specific popularity:
Links from sites of your niche matters more than links from general sites which is not in your niche. Just for example, if your site sells dog houses, then getting links from the society of dog breeders matters a lot more than getting links from a roller skating site.
Trustrank:
It’s a method to separate useful links or web pages from spam. Some experts say that around 60% of web pages are spam. In order to eliminate these irrelevant content, search engines use systems in order to measure the trust, many of which depends on the link graph. Getting links from big trusted domains can provide a decent boost to this scoring metric. Universities, non-profit organizations and government websites are the examples of highly trusted domains.
Link Neighborhood:
Spam links often go in both directions. A site that links to spam is likely spam itself and this in turn often has several spam websites linking back to it. So, checking out the totality of these links in aggregate, the search engines can estimate the link neighborhood your site exists in. Therefore, it’s always in good interest to choose the right and good quality sites and be equally selective with the websites you try to get links from.