Last week we had the good fortune to interview Lee Odden of TopRank Online Marketing. (Subscribe to Savvy eBiz Tips and you'll get a summary on Tuesday!) Lee mentioned a post he had been working on about Link Building for Blogs in which he discusses, in quite a bit of detail, the importance of inbound links to drive traffic to your blog.
Lee offers a list of linking strategies that are particular to blogs like trackbacks and commenting. In addition, he encourages bloggers to look at the bigger picture of getting links back to your blog and lists several ways that have been used successfully on "traditional" websites. Check out Lee's post with the link back I gave him above!
You can also get the audio program (mp3) at Conversations with Experts.