Among list of Google ranking factors, backlink is one of it. Creating a good quality backlinks, will help to increase the ranking and traffic, whereas creating a low quality backlinks will decrease the ranking and traffic.
In order to get good SERP ranking, it's important to build quality backlinks i.e backlinks from the website have domain authority higher than your website. Apart from backlinks, some of the other factors, which need to be considered are having backlinks from both Dofollow and Nofollow sites, and backlinks from variety of submission methods and not just by following any single method.