A. The very first benefits of links are referral traffic flows from them whether they are from forums, blogs, social bookmarks, article links, etc. After all we are looking for traffic.
B. Links represents your site popularity. So search engines consider them as a vote to your site and give you better search position.
C. Links explains what your site is about.
Eg : Please visit Link Building services (Site is about link building)
D. Link is a method of free advertising.
E. If your links are from related sites, traffic generated from links is a goldmine.
So as a summary links can be considered as great assets to your website. It helps to bring referral traffic and then helps to gain link popularity and attracts SE traffic.
Links ->Traffic
Links ->Link Popularity >Better SERP ->Traffic
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