An SEO link audit is the process of pulling the inbound link data of your site and of your competitors using an SEO tool like SEOMoz and analyzing each existing link that points to the sites. It involves manually visiting each link and categorizing the link. Categories could include article links, press release links, blog/blog comment links, directory links, industry/business profile links, social media links, and more. It’s certainly a time consuming process and it’s not all that much fun, but it’s a necessary component of an SEO strategy.