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Ideally you built up your own blog and its authority while guest blogging is just an addition or vehicle to drive visitors to your own blog. Guest blogging just for the links of it is a short sighted tactic. Also guest blogging is quite time consuming and takes a lot of effort. There are more efficient ways to make bloggers write about you.
Yes! Your last sentence is essentially a condensed version of my entire post.
I tweeted last night about how I don't necessarily agree with AJ's points, but if you're getting at guest blogging being short-sighted as one's only way of getting exposure, then I agree with you AJ. It can be ONE part of the equation, but if you're not also building your own site, your social media presence, and your presence in real life such as at conferences, guest blogging will take a lot of extra time and effort and possibly not have the returns you are seeking. That said, you should also be choosy about where you guest blog, and see if you can get a repeated slot. If you can get a column on SEL, or a recurring monthly post on Moz, that is much better than a one-off guest post on SEL or even YOUmoz. Consistency in guest blogging on one well-read site (and at this point it's not for the links) is what helps build a reputation as a writer. But notice I said helps - it's not the only way and is at best an important part of the larger equation.
I can't really disagree with much of what you say here John. You CAN use guest blogging to increase your reputation as a writer. That's an important part of building your personal brand. But you must have your own site (how else do you launch a new book venture) and a strong social media presence. There are a number of ways to build your brand. However, I think it's dangerous to try to launch your personal brand on a bigger brand's platform. You were able to pull that off but I tend to think of that as the exception and not the rule. (How many guests on Oprah turned into a success like Dr. Phil?) Perhaps it's not guest blogging that's the real problem but that those trying guest blogging don't understand that it has to fit into a MUCH larger picture. It's a knuckleball problem: http://www.blindfiveyearold.com/the-knuckleball-problem
I appreciate the dissenting opinion AJ. I have found guest blogging to be a rather time consuming way build links. I'd be surprised if it came close to the ROI of other forms of outreach link building. I love John's idea that it is most effective when you can secure a recurring post agreement on a well-known media outlet. Also like AJ's thought that the best approach is to be the big fish in the pond of a tangential space. (Be the SEO expert on a blog about marketing your restaurant online, or some such). It seems to me that the real value of guest blogging is not from the link acquired but from the relationships that you build (with the owner of the blog, with other guest writers, and with an audience who hasn't yet been exposed to you and your writing). Relationships aren't built with an isolated post. They are built with repeated exposure and interaction.