Yes, there are many other factors involved in getting your site to a top position. But this is the most powerful way as of this writing to get a top spot in Google. It's not just enough to have links pointing to your site, but you need to have your keyword "anchor linked" to your site. Anchor linking is when you use your keyword phrase as the click-able text for a link. So, instead of saying "Click Here", you would use "Widgets" as the link text.
Now, another point of consideration is determining what keyword/phrase you want to use to get your site found. Most times, people impulsively choose a one word phrase. While this would be a great way to bring traffic to your site, would it bring targeted traffic, with people looking specifically for your product or service? Most times when people type in a one letter keyphrase, they are in the beginning of their search.SEO tips.
They may type in "Shoes", but are really looking for "Running Shoes". So, if you have a top ranking for shoes, do you serve that user's needs? Maybe, but they may also be looking for dress, casual, Women's, Men's, Children's, athletic, girl's, boy's, etc. This is why when you begin to optimize your site, you should focus on more targeted keyword phrases.
