the 5 primary factors in answering this question are:
*intent: is the user intention largely the same? If so you can target many keywords on one page, but if it really is different then it is logical to break up the baskets grounded on the different user intents. combining "ipod reviews" and "ipod review" on one page is wonderful. however "ipod repair" and "sell my ipod" and "used ipod" are wholly different concepts... as are things associated with the ipad
*relevancy: this is sorta tied in with intent, but also if the words seem significantly different then make different pages for them.
oif there are 2 ways to explain something and they look vastly different (visually) then it might make sense to set up 2 separate pages.
othe big rationale for this proposition is that when people search they regularly visually pattern match while scanning...looking for the shapes of the word instead of reading (and search engines daring the list as well)
* competition : whereas if it truly is strong you may need to be more granular to compete, if the competition is weak you can get away with targeting more on 1 page
*present momentum: if you have a heavily linked to page then sometimes just adding a couple cheesy links with the related keyword modifiers inside them can help you rank for the alternative variations, but should you not need that momentum then clearly it can be a little more work
*what do the search results look like: for example, in certain cases Google localizes search results to where it will be difficult to make 1 common page ranking for several geo-specific key word variations.
osometimes you can utilize another strategy than what opponents are doing and what appears in the SERPs, but normally what is working is a great starting point (since mimicking it removes some variables from the equation).
your anchor text question is actually a bit tougher to reply. Power would flow around the website, but anchor text would not. however Google mixed that up late last year.
Given that, my guidance on the anchor text front will probably be this : evaluation and track. and by that I mean...
* you Must mix the anchor text coming into your homepage anyhow...so on some of the mixing use some alternate keyword modifiers and see how well it performs
*after Panda it is not a great idea to merely link at the homepage (specially if you are going to have 100 pages on your own site) so I'd suggest doing some deep links for safety sake. test how well they execute.
it is not really interesting (or even skilled guidance sounding) to suggest being iterative and following what is working nicely (rather than saying "go in with large plan x") but in almost everything we do we have a rather iterative strategy. we do that for a few important reasons:
*investors are more willing to invest big when something looks like it has a good chance to be profitable. we are the same manner.
* The algorithms are dynamic and continuously changing.
oboth the above links in the posts are good examples of how the response last August might have been a little different than what I wrote above.
oas individuals adjust to what Google is doing Google may dial down the ability of anchor text to flow cross-page in a website for some kinds of sites.
Oby leveraging both strategies, you can better isolate problems when the algorithms transform (if others don't) * and certain pages and keywords tank when it
goes without saying that Bing can also drive significant traffic. some sites that were hit by Panda are generating more sales from Bing or Yahoo! than they do from Google.
nike free run and when you take into account that Bing powers Yahoo! Research as well, that's really a 2 : 1 difference.
onobody strategies and hopes on becoming penalized, but it is nice to still create some decent revenues from a site even in case your site has a falling out of Google's graces.
all the above is based on the supposition you have a site little enough that you're paying considerable attention to editorial on a page-by-page basis and do it yourself. one other consideration is key word overlap with brands and such. those types of searches are common across brands and within different versions of the same brand, and they are inclined to be somewhat into the conversion funnel to already desire to compare a few options. we provide a site planner here and you may use tools like Xenu Link Sleuth or OptiSite or Screaming Frog SEO spider to map out a competitor's strategy as a starting point. then from there you can use some of these tools to help bucket the keywords and create your page titles and H1 headings aligned with keywords. Save all that data in a spreadsheet and you can later use it against your analytics data and also rank checker results to further shape your link anchor text strategy when constructing additional deep links. nike free run 2