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In general you have to communicate the fact that your site exists to other people. There are multiple channels for doing that of which soliciting links is only one. Some of those channels have SEO advantages some don't.
Thanks for the valuable info.
My question is I have been working on this domain since 4 years and the Google PR is 4 & There are 12 categories and most of them are having Google PR's in my domain/website.
I understood that for a new domain/website link building will help a lot in introducing or to make make my website popular in web world.
The Scenario with me different:
When i'm meeting most of the requirements (in terms of popularization of my website, getting pages ranks and good number (not so good number) of back links..Do u still think that i must continue the link building process.
Can you suggest me any other way to get healthy back links by skipping Link Building?
Once you have built an effective portfolio of inbound links you don't just stop, you just change the emphasis. That portfolio will gradually decline as sites restructure, shut down, change hands etc and you may loose deep links when you make changes to your own site. Acquiring new links will no longer be a major driver but it is something that should be at the back of your mind all the time.
But eventually, if it begins to get traffic from search engines, as more people see it and are impressed by it, some of them will start linking to it voluntarily, with no involvement on your part. These new backlinks will improve the rankings even more, further increasing the traffic, which will generate even more natural backlinks.
Thus it becomes a "snowball effect", with more traffic leading to more backlinks, leading to better rankings, leading to more traffic, etc.