The manorial system provided mutual support between people of different rank who had societal relationships with each other. It was based on the idea of mutual obligations, and oaths, to produce the support system. It tied the serfs to the soil and to their lord, but it also tied the lord to other lords or royalty of higher rank. The support system was not only economic, but also military and political.
Manorialism was important because it provided a great deal of security in times that were often rather chaotic. The manorial system probably protected serfs most effectively, providing them with a guarantee of a job, a place to live, and protection. There were times when free people became serfs because of this. But it also was the basis for the feudal system, which made it possible to assemble small fighting units very quickly to deal with such critical local issues as a Viking raid. At the time it was used, no national government had standing armies able to do this.
There is a link below to an article on manorialism.
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