There are some advanced things you can do when considering your link text that will allow you to gain even more benefit from them. Let's look at some ideas and suggestions, as well as think about some more high levels strategies revolving about link text.
Place Plain Text Around Links
Placing some plain text next to your links is better than just having bare links all over the place. Many search engines use the text surrounding a link to help figure out what a link is about. Although I would not go so far as to place plain text in your navigation menu, and it may not look good down near the bottom of your page near the copyright notice, but when available. It