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If you want your guest posting to be effective, you have to ensure that you are writing directly to the targeted traffic. You have to ensure the website that you are submitting your guests posts on is on the same niche as your content and your website.

I think it is also an advantage if the website you are submitting your guest posts to is a do-follow link website and of higher rank than yours. Do follow links are known to support SEO. If the sites are higher in rank than yours, then google automatically increases your site's ranking by seeing your site as important as the ones where the Do-Follow links are coming from.

In Google SEO backlinking, quality matters more than quantity.

Speaking of quality, it is very good to ensure that your posts are top notch quality, this way you gain more chances of submitting more guests posts in the future, and many who love your posts could share your posts to their massive audience.

Also ensure that you encourage them to share your posts  if they like it. Don't presume they will automatically do it. Some may not, but if you ask explicitly, it's a reminder.

Hope this helps.