Link text is the visible text inside a link. This text tells users and Google something about the page you're linking to. Links on your page may be internal—pointing to other pages on your site—or external—leading to content on other sites. In either of these cases, the better your anchor text is, the easier it is for users to navigate and for Google to understand what the page you're linking to is about.

I work on a site that allows users to find what they are looking for by clicking links that take them deeper and deeper into the site hierarchy. Content can be categorised in lots of different ways. After about three steps the difference between the results pages shown is of significance to a user but not to a search engine. I was about to add nofollow to links that took the browser deeper than 3 levels but after this announcement I won’t be…
The field is replete with terms that might confuse and perplex the average individual. What is a squeeze page? What's a sales funnel? What's a CPA? What's SEO? How do you setup a good blog to filter the right type of relevant traffic and get your offer in front of eligible users? What's a massive value post (MVP) really mean? Clearly, there are an endless array of terms, some of which you might already know or might not depending on how much you presently know about the field.
“There may be a miniscule number of pages (such as links to a shopping cart or to a login page) that I might add nofollow on, just because those pages are different for every user and they aren’t that helpful to show up in search engines” – it doesn`t make much sense. If a page isn`t helpful and should not show up on search results, the best option is to meta-noindex the page and disallow it on robots.txt.
Getting unique and authoritative links is crucial for higher ranking in the SERPs and improving your SEO. Google's algorithm on evaluation of links evolved in recent years creating a more challenging process now to get high quality backlinks. External links still matter and aren’t obsolete, so start working on strategies to get valuable backlinks to improve your search visibility.
At one point, backlinks developed a reputation of damaging a site’s credibility through search engines. This is due to “black hat” SEO practices would add 5,000 links to a website overnight (a practice that is still used today). While the website would launch to the top of search ranking results for a few weeks, it wouldn’t stay there, and the site’s credibility would be damaged because a few dozen servers with thousands of useless websites existed for the sole purpose of creating backlinks.
If you’re Matt Cutts and a billion people link to you because you’re the Spam guy at Google, writing great content is enough. For the rest of us in hypercompetitive markets, good content alone is not enough. There was nothing wrong with sculpting page rank to pages on your site that make you money as a means of boosting traffic to those pages. It’s not manipulating Google, there’s more than enough of that going on in the first page of results for most competitive keywords. Geez Matt, give the little guy a break!
Matt, in almost every example you have given about “employing great content” to receive links naturally, you use blogs as an example. What about people that do not run blog sites (the vast majority of sites!), for example an E-Com site selling stationary? How would you employ “great content” on a site that essentially sells a boring product? Is it fair that companies that sell uninteresting products or services should be outranked by huge sites like Amazon that have millions to spend on marketing because they cant attract links naturally?
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