There are two answers to this question depending on what you want to do; affiliate linking and linking to internal content.
If you’re linking to affiliate links, then you want to choose words and phrases that are related to the product or service that you’re linking to. We recommend the actual brand names and product names. For phrases, if you’re referencing how to do something that the product or service does, you can then link that reference. For example if you want to link to a service that shortens URLs then you could link the phrase “shorten a URL” or “smaller links.
The main point in linking to internal pages is to keep visitors on your site and to make it easier for them to find relevant content. If you write product reviews then you can have CouchMoney automatically link to the product reviews anytime you mention one of the products that you have reviewed. If you discuss other topics, such as “cats” you can link to a search results page for all of your “cat” related posts or just link to your most popular “cat” post. The possibilities are endless!