Some agencies still focus on link building, but I’m uncertain I’d call which a strategy. The good link-focused agencies will often have a bag of tactics/tricks they love. These tactics are proprietary, which suggests it’s difficult to find all of them explained on Quora.
With that in mind, there are some great tactics shared on regularly, and you’ll find a great deal of interesting stuff looking around on that site too (a great deal of which can be free).
However, so far as a method, cheap link building plays second fiddle. Links aren’t the be-all-end-each one of web marketing – you need them to have success, however, you also require a good social networking presence, good content, website that converts, etc.
For me, building links suits an increased online content and PR strategy.
At my agency, we focus on a niche market (auto parts), which allows us to both cultivate content expertise (my content creators are car nerds) and cultivate relationships with industry media (I’ve got a significant set of automotive journalists and bloggers I can get in touch with and expect a response). Our strategy:
Create content we hope auto enthusiasts will delight in (and our team of car nerds makes us somewhat successful in that)
Contact the very best journalists/bloggers inside the automotive niche (whom we understand, or at least know via email) and “pitch” them our content
If/as soon as the content resonates with the blogger/journalist, we have a reference to the client’s brand name, and typically a link
The links are editorial and range from best quality sites, therefore we have absolutely nothing to fear from your efforts. It’s 100% “white hat,” that you can’t always say about link-building. The brand name mentions put our clients facing thousands (or tens of thousands) of automotive enthusiasts. I don’t actually know 40dexppky the ROI on these mentions is, but it can’t be bad.
…Not forgetting, we’ve got an excellent part of content around the client’s site that will generate search and social media marketing traffic/interest for a long time.
Our “trick” is an industry and niche focus. It’s hard to create content that actually “pops” once you don’t have expertise in-house, not to mention that it’s difficult to understand who the top bloggers and journalists are in a niche without having done any some operate in that niche for a few years.