Definition
Anchor text is the visible text inside an <a> tag. It tells engines what the linked page is about, both for SEO (link-graph signal) and AEO (citation context). Generic anchor text ('click here', 'learn more') wastes the signal. Descriptive anchor text ('best CRM for agencies') gives engines explicit topical context.
Bad: 'Read the article <a href='/aeo-guide'>here</a>'. Good: 'Read our <a href='/aeo-guide'>complete AEO guide</a>'.
How to optimize
Audit anchor text. Replace generic phrases with descriptive ones. Vary anchor text naturally (don't over-optimize with identical exact-match anchors).