Tricks are so important to all dogs
They really increase the bond with you
They really boost a dogs confidence
They teach the dog to be aware of their body eg what their back legs are doing etc
They keep a dog young and stimulated
Teaching the trick is really not that important but what it does teach the dog is that you are fun to be around and hence all other unwanted behaviours tend to disappear. - play with other dogs or do a handstand with you and get lots of praise and reward!
Soon the dog will want to do tricks with you more than other behaviour and so the actual teaching of a trick becomes more rewarding.
Every activity I teach as a trick, heeling is a trick, look dog is a trick, etc.
Once your dog gets used to learning tricks, are easy to teach.
Eg my old girl can roll over, so this week her trick is to roll over and cover herself with a blanket. She is loving it!
My young collie is a herder (and a nipper of sheeps ankles!) so he is learning to push a gym ball. He gets rewarded for pushing but not nipping - he is now fine out with the sheep.
I am trying to teach "hold your tail" this week to the youngsters most of my dogs are now turning into frenzied circle grabbing their tails the minute I get the clicker out!! 
Can you tell I hate preparing for Christmas and should be doing some cooking 