Interesting read. But then how does this tie back to keyword research?
The whole point of writing content and link building is to rank for a specific search query?
So if we combine these 2 pieces of information:
1. "Topics > keywords" --> As mentioned by the author
2. Keyword stuffing of your content would get you penalized by Google.
Then how exactly are you supposed to rank for a specific search query .... confused af. Even if you were to say "Google ranks based on amounts of social shares". Yeah but what then would they be ranking you for?
Interested to hear what senior SEOs have to say.
Instead of seeing it as "how to rank", I see it as "how to avoid being algorythmically penalised".
People who link naturally to your website rarely use your high volume, commercial intent keywords in the anchor text. So it is logical for Google to look for pages that have a higher than normal proportion of keyword rich anchors, and come to the conclusion that those links have not been gained naturally.
I believe Google is well beyond using anchor text as a primary indicator of subject. It might still to a small extent, but the limit of using anchor text is context. If the anchor text to a page is just "glasses", is the page about drinking glasses or spectacles? The way of determining that is to look at the page, not the anchor text profile.
You rank for a specific query by writing a page that is more about that query than any other, and then by having a site that is more authoritative than any other in that topic area.
A page that is more about a query than others is probably one that has a high TD-IF correlation to others about the subject, and that has good user signals for the user intention.
Having a site that is more authoritative is about the quantity and relevance of links to the page, but also to other pages on the site.
Last time I paid attention to social shares, Google has said that it doesn't use the quantity of social shares as a ranking factor. That is because they might be able to be gamed.
When it comes to the anchor text profile for a page, I think there is a threshold before Google judges whether the link profile is unnatural. If a page has just a few (say 5) links to it, there isn't statistically enough data to make a decision as to whether that profile is natural. So unless you're building large numbers of links to an inner page, it probably doesn't matter whether your anchor text is slightly unnatural. Remember that most pages on the web don't have any external links to them. If a product page has 30 links to it, its statistically unusual regardless of the anchor text profile.
I think Google also looks at the profile for the whole site as well in assessing site quality, rather than page quality. When referring to a site, most natural anchor text would be either the brand or a URL. Think about how you would refer to BHW in an article. If a site has an anchor text profile that doesn't have brand and URL featuring large, its probably an indicator that some of those links have not been gained naturally.
Lastly, I think there are varying degrees of penalty. Manual penalties are black and white - you're either assessed by a human as warranting a place in the index or not. But algorythmic penalties are dampeners. Google assesses lots of different factors to decide which page to rank where, and a possible unnatural anchor text profile is just one factor. Not only that, the probability that an anchor text profile is unnatural is a range.
I wouldn't overthink anchor text too much. Build a good foundation to your main pages that consist of brand and URLs. Then build a handful of keyword rich anchors to every page. Just make sure they are diverse and not all exact.