It will help in indexing your website and putting it on the map. But it doesn't stop there. You must continue to build backlinks. I am more of a white hat type of guy. I feel that if you are going for long term success, you should build organic backlinks. Guest blogging is building organic backlinks. Because you are actually providing value to your niche. That in it's self will drive traffic to your website. A profile backlink is not going to drive anyone to your website.
So although it will help, long-term it might not.