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Don't do link wheels, link pyramids, or link blasts. NO NO NO. Penguin will kill you. Instead, use content-based link building. Get links from other online marketing/make money online sites. That's the only way forward. Quality content + quality blog partner = quality links.

so far backlinks from software syndication/pad method still works for me

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Always make your links natural, do not use exact match of anchor text for link building. Have a blog for your business and you can link back to your site.

SEO isn't as simple as do this one thing or another and watch your site rank.

Your site ranks based upon your entire link-profile. One link-building action could bolster one guys site, and tank another guys site.

Usually anything involve "bulk" submissions is to be avoided. The key most important point to remember with off-page SEO is to minimize any footprints. Can Google analyze your link profile, velocity, and other factors and say Hmmmm... this doesn't look natural.

Proper link building looks not like a pyramid, but a broken pyramid that is completely scatter brained. It is both logical, and random. It is built on layers, some that lead to nowhere, others that go many levels deep. It's based on content so good that it's undetectable as spam even though you you just used your automated software to submit it. It's based on patience, planning, luck, intuition, and foresight. Don't look at SEO as "link building" look at the bigger picture.

There are many different variables when it comes to the effectiveness of a link. If your content is high quality and has your keyword in it, the link might provide a larger impact. Social media links are usually not very effective because they are usually nofollow. However, if you can get dofollow links from social media sites, then you will get some ranking improvement. Bulk directory submissions are not a wise decision. It is much better to get a few directory links on domains that have high PR.

Have you roamed around the internet world to see what's working and what's not? Both are less effective. It's more about on content marketing (I am not only talking about articles).

It's not like building directory links and then you're good. Now, if you don't know how to engage targeted users it will be hard for you to compete.

Link Building Strategies - The Complete List

Simple solution -

1. How effective are link pyramid schemes using social media?

--> It works and you can get result if you know what you are doing. You have to have careful while doing link pyramid. Keep the highest quality on Tier-1 and keep others on rest. Please note, there are still so many facts.

2. How effective are bulk directory submissions?

-> Anything that do bulk submission (pointing to main site) should be avoided.

Build good site with lot of quality content and do less SEO. You will get ranked without any links at all (only with the help of innerlinks)

there's going to be a lot of debate over link building especially in the forums

My take, if you really want to learn, test it. Asking people here will just give you mixed answers since each site is different and they are on different stages of their SEO careers.

If you want to be safe, forge relationships with others in your niche. If you want to mass link now, don't. Penguin 2.0 is a few weeks away.