Learning the notes on the guitar fretboard is not easy, so if you are going to tackle it, you’d better make a serious effort.
Many guitar players – a lot of good ones and most not-so-good ones – will argue that it is not worth the time and energy it takes, especially if you don’t read music, and just want to strum along to singing.
But if you’re past the beginner stage, learning the guitar fretboard will definitely improve your playing and make you more versatile. Rhythm guitar players, will pretty much automatically learn chord options you didn’t see before – chords in different shapes and positions, chords on two or three or four strings, and so on.
Bass guitar players probably already know that being aware of the notes on the fretboard will open up alternatives you weren’t aware of. Arpeggios and bass runs will become much more obvious to you and make you a better, more interesting bass guitar player.
For lead guitar players, knowing the fretboard will make you a more knowledgeable player. You will see possibilities you didn’t think of before and make you playing more interesting.
Finally, don’t miss this pretty obvious point: when you know the notes on the fretboard you’ll be able to play in any key. When somebody says “Bb” you’ll know exactly where that is in a bunch of different places on the fretboard.
To help you learn the fretboard check these Free Fretboard Resources.