What is the most effective way to build links for your site?

What is the most effective way to build links for your site?
I have seen in many forums that nowadays website owners are little confused regarding link building for their site. They are not very sure what link building strategies they should adopt. Not to mention Google and yahoo heavily rely on quality back links. Content optimization is always a factor but these two search engines are heavily relying on volume of links and of course quality of links. A link back from a page where there are hundreds of links would not help you much. At the time of link building most people forget about the importance of link building. Read More...