Blog comments influence SEO through three mechanisms: direct link equity (if the link is dofollow), referral traffic (when readers click your link), and brand signals (Google observes your participation in relevant communities).
The link equity portion is limited — most blogs default to nofollow links in comments, meaning they don't directly pass PageRank. However, a well-placed comment on an authority blog in your industry still generates real value: readers see your name, credentials, and website, and if your contribution is genuinely helpful, some will visit your site.
The catch: Google's guidelines are strict. Comments that exist purely to inject links are spam. Comments that are generic, off-topic, or part of mass outreach campaigns trigger manual penalties. The SEO benefit comes from authentic participation, not link insertion.
In our experience working with professional-services firms, the firms that see real traction from blog commenting combine strategic blog selection (targeting publications their ideal clients actually read) with thoughtful, specific responses that answer questions or add nuance to the discussion.