Link building helps improve your overall page ranking and obviously traffic since the more links to your site on the web, the better.Link building is a phrase you will come familiar with fast in the world of SEO.I am compiling a quick list of various methods of search engine friendly link building techniques and methods.
Social Media sites
Submitting your sites, content and articles to social media outlets such as Digg, Delicious, StumbleUpon and other niche social news sharing and bookmarking sites will get your links seen by many. Using these sites will also filter targeted traffic to your site along with kicking your pagerank up.

Reciprocal Links
Reciprocal links are another popular way of building links.

Directory Listings
Link and site directory listings can prove to be a very effective way of link building.

Blogging
Take part in writing and reading online blogs. With blogs like WordPress, with every comment you leave, a link back to your site is generated. This will also bring more inbound traffic to your site.