Bing Webmaster Tools is probably the best tool on the internet for analyzing backlinks. It is updated extremely fast. Within days of creating links, they already show up in the site explorer results.
I use Bing Webmaster Tools for a few things. The first of course is seeing my progress while creating backlinks to my niche sites. When you are creating backlinks, it’s nice to be able to see that the links are being recognized by the search engines, and I figure that if Yahoo can see your link, Google definitely can.
Doing market research about your niche, and keywords is critical.
But the second reason I use Bing Webmaster Tools is way more important to me. I use it to look up the backlinks of other domains. Let's say for example I want to rank a site for the term “six pack quick”. I searched this term in Google, and I took a look at the search results. At the time of searching this, the number one MuscleBlitz.com, an article about getting a six pack. I copied the url and pasted it into Bing Webmaster Tools, and clicked on “Explore URL”.
Let me make this clear, I did not copy and paste the MuscleBlitz.com domain, I copied the entire article url, and explored it. Now when you click “Explore URL” the inlink results you are given, are ALL the unlinks seen by yahoo. You want to click the drop down option next to “show inlinks:” and click “except from this domain”. This removes all the links to the site within this particular domain, which we don’t care about.
We are left with the number of links and the addresses to the links pointing to this particular URL. As a marketer, this is extremely valuable information. Let me repeat this. This is extremely valuable information. You not only see how many backlinks this URL has, you see the actual addresses of the links, making it so easy to duplicate their results. You can easily obtain most of the links that the particular domain has by visiting each of the addresses where this site owner got his links from, and build your own. Then you can go above and beyond his linkbuilding and improve upon it.
Sure sometimes you will come across a website where his link was created by the webmaster, but usually most of the links you will be able to replicate, just by leaving a comment, or submitting an article, or posting in a forum.
So, the moral of the story is when you are doing market research for a site you are trying to rank for a particular keyword, use Bing Webmaster Tools to see what kind of competition you’re up against. If you analyze the first result in Google, and it has 40,000 backlinks, find another keyword. You would probably spend a year creating backlinks to try to get ranked above a site like that. Stick to trying to beat niche sites with tens or hundreds of links behind them, and you should be golden.