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Links serve two purposes; providing navigation to areas of interest within site, and pulling potential customers in so that they take plunge and purchase, sign-up for, or merely show interest in, your offer of day.
Since you can't actually see your customers, however, and follow them around; you need another method by which you can gauge success of your link placement strategy and link phrase content.
Measuring success of certain areas and navigation paths will lead you to choose to make certain items more prominent or even remove areas which take time to update, but hold little interest to visitors.
All serious webmasters should take time to build up a spreadsheet of where customers have been active, and where they have 'clicked out' of site, so that placement of links and their phrasing can be adjusted properly.
Specialist tools are much more effective, chiefly by cutting amount of time spent analyzing logs leaving more time for creation of new sites, and business relationships to present on them.
After all, as Bill Gates himself points out, Internet is embodiment of 'Business @ Speed of Thought.'
About Author: Craig Desorcy is an Internet enthusiast who Lives and works in Japan, spending most of his free time on the internet running his blog and websites of interest.Craig(at)gmail.com