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Submitting your site's link to popular web directories is highly important as you will receive good amount of traffic once your site gets listed after some time.
There are thousands of free web directories out there, you need to compile a list of the Best Web Directories before start submitting.
What you should look into a good Web Directory?
1. A Directory that is Highly Optimized for Search Engines (SEO Friendly).
2. A Web Directory that has a High Page Rank on Major Search Engines.
3. A Directory that is Well Organized, Professionally Categorized, Easy to Navigate.
4. A Directory that offers a Personalized Listing.. a Unique page that carries your own Meta Data (Title, Description and Keywords).
5. A Directory that offers Handy Tools and Marketing Techniques such as Social Bookmarking Tools for each and every listing.
6. A Directory that accepts only Good and Quality Web Sites.
7. A Web Directory that does not accept duplicate listings for the same link.
8. A Directory that does not require you to Reciprocate (Exchange Links) in order to accept your site's URL... having a 1-way back link will increase the importance of your web site.
Being listed on a good web directory will help in improving your Site's Page Rank, Link Popularity and the Number of Quality Back Links.
One last thing to mention about web directories that there are many directories Syndicates their listings to other web directories.. just imagine how much of traffic you will be receiving with time
the more link building you do for your website will only improve its Google ranking thus driving more traffic to your site, but its important to remember things dont happen overnight, it takes time patience and hardwork to establish a successful website.