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.