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Professionals looking to bring free traffic to their website never ignore the power of Search Engine Optimization.  In various blogs of mine (matthewbredel.com) and within articles on my website, I go over two ways of building SEO for your website: 

• Internal
• External

Internal SEO is all about the structure of your website (read the OptiSpider review for the best intra-site optimization tool).  External SEO is all about the links that are pointing to your website from other websites on the web.  There are various ways of building backlinks to your website such as:

• Writing Articles
• Posting in Forums
• Press Releases
• Link Exchanges

The first three are fairly straight-forward ways of receiving backlinks to your website.  Still, these three usually provide you links from low traffic, low page rank websites that will have a small (but important!) impact your backlinks and ultimately your SEO effectiveness.

Link exchanges are a great way to potentially get high page ranked websites to link back to you.  The major tricks to doing this include:

1)  Who do you want to trade links with?
2)  Will they trade links with you?

The best way of finding out this information is to find out

1) Which websites currently rank highly for a free Search result.
2) Which websites link to them
3) Find how these companies are linking to them

The first two are rather simple: 

1) Pick a keyword you want to optimize
2) Enter it into a Google search
3) Click the backlinks button (part of the Google Pack, below) or type "link:http://www.website.com "

This will tell you who is backlinking to this specific website.  But here is the secret to being effective at SEO:

HOW are these people backlinking to the website (i.e., what anchor text are they using) and WHAT is the website's importance.  This information is much harder to come by.  Sure, you can go to every single backlink, record that page's page rank and find out what anchor text is being used.  If you want further data, you can go to alexa.com and get its traffic rating as well.  This can take you HOURS to do for most competitive websites. This is why tools such as SEO Elite and OptiLink exist.