If you look at the state of links, you will find out that they are not as effective as they were in the past. Although they are still very much effective but there are other factors which seems to reduce the influence of links when it comes to the ranking of websites.
The core algorithm
It is impossible to ignore the role of search engine’s algorithms while talking about a widespread ranking change. In this scenario, the pop and drop scenario is specifically worth mentioning. Pop and drop happens with the black hat methods which mainly involves acquiring of a set of links which help a website to show up in the top of the SERPs. This drop in ranking happens to be quite faster just link the rise. This is what we call pop and drop. With the change in core algorithm, Google tends to make things happen in real time. It means that the algorithm tries its best to avoid promotion of any page which is powered by shady link scheme. And even if a site manages to show up in the SERPs, the property of algorithm being real-time tends to make sure that the website gets demoted quickly.
The best thing about Bing is that it focuses on content along with the links. The role of links in this regard is limited to ensure that a website is authoritative, trustable and useful.
Links and trustworthiness
When you focus on avoid anchor text spamming by cleaning the link signals, the only signal you are left with is the one that indicates trustworthiness. And this is the very signal the SEOs need to work on if they want their website to rank in search engines and stay in the users’ preferences as well.
In this scenario, it would be worth mentioning that SEOs seem to be quick about disavowing Bing in their optimization strategies. However, they do not really have an idea about how to rank on Bing. Bing has been focusing on content and user preferences. On the other hand, SEO has been focusing on link building strategies to rank websites on Google. Well, it may be interesting for the SEOs to know that Google is also focusing on on-page elements and user preferences in a manner that of Bing.
How should the link building be approached?
With other ranking signals to consider, links seem to lose a bit of influence but this influence is still the biggest one. However, link builders and SEOs need to make sure that they work on the trustworthiness and usefulness of the links rather than working on the link schemes just for the sake of traffic.