1. Creating more Link love for Your Website
One of the parameters used by the search engines for higher rankings is the amount of "votes" you get from high profile websites. These websites are often looked on by the search engines as being reputable, lacking in spam, and genuine sources of information.
The bottom line is that links coming from these websites to your website or any other related website for that matter, are seen as "votes" that basically tell the search engines that the website is a good a resource. Since they are big on relevance, they automatically increase the website's visibility so that searchers can have access to all the information on the website.
2. Generating Traffic
Putting a link to another website from a very popular website can result in traffic for that website. For example, if you can get a link pointing to your wedding planning website from theknot.com, you are likely to get traffic from there to your website considering that the website generates about 1.4 million unique visitors. The search engines often consider websites with high traffic relevant as the bots think that it must have a lot of relevance, that's why lots of people are visiting it.
3. Page Rank Increase
Now when some of that traffic gets funneled to your own website, the page rank increases. Since page rank is one of those parameters used by the search engines, you can be sure that your website will get higher rankings. This is not to say that page ranks are extremely important. There are instances where websites with a page rank of 33 have outranked websites with a page rank of 5. It all boils down to the parameters.
The search engines have evolved from being just spam machines filled with lots of junk to becoming highly discerning. What this basically means is that the algorithms have been built in such a way that only relevant websites are ranked highly and the irrelevant ones are chucked out. A one way link from a related website -e.g. a link from a gardening website pointing to a home decorations website- is seen as being a vote that the website is relevant thus increasing its visibility on the search engines.
One way links are right now, very important in getting your websites ranked high. Hire a professional link building service and all these benefits could be yours.