While link building is important and crucial towards achieving higher visibility on Google, it is not the only thing that matters. To initiate a success link building campaign, you also need to focus on other important things such as website trust, website age, domain authority, website message and high quality content etc. Once you take care of this your link building strategy will produce amazing results.
At the moment, I'd say it is still a viable option, just be sure to follow Google's latest recommendations when declaring these links on your website. Also, I'd advise you optimize for voice search as it is expected to be the next biggest thing. Right now it is positioned to over take other forms of SEO marketing.
Link building is like getting votes. It is cumbersome for firms to remove your links after you've not renewed your service.
It is not applicable if they've posted your links as signature, because signatures can be altered easily. In that case, you'll lose those links.
But if they 've built links using general methods(like blog submission) then it is ok to understand that those links will not be removed.
Link building is a very essential part of the process of improving the ranking of a website. Think of it as a way of garnering influential votes for yourself to improve the authority of your domain.
The more links you get (Follow or No Follow), the higher preference Google will give you when a searcher searches for a relevant query.
Also, you need not give all of your attention to link building. The most important thing is on-page optimization.
So give it importance as well.
We still need link building for marketing and promotional purposes. However, before we embark on this exercise to improve our online visibility, we should take the time to study the latest link building updates that have been implemented in the past few months. Doing this will ensure that we are making good use of our link building efforts and avoid attracting unnecessary penalties for engaging in activities Google considers exploitative.