whats the difference between link text and link anchor text? Or isn't there one, as a SEO noob I've never seen the distinction?!
Part of the reason good anchor text is so important is that search engines are just computers, they may be smart, but they determine what the link is all about from the anchor, whereas you and I might read the surrounding paragraph and be able to make an assumption about the link.
The anchor text, link label or link text is the visible, clickable text in a hyperlink. The words contained in the anchor text can determine the ranking that the page will receive by search engines. Since 1998, some web browsers have added the ability to show a tooltip for a hyperlink before it is selected. Not all links have anchor texts because it may be obvious where the link will lead due to the context in which it is used. Anchor texts normally remain below 60 characters. Different browsers will display anchor texts differently. Usually, Web Search Engines analyze anchor text from hyperlinks on web pages. However, also other services apply the basic principles of anchor text analysis. For instance, academic search engines may use citation context to classify academic articles,[1] and anchor text from documents linked in mind maps may be used too.