As I understand things it is best to vary your anchor text in incoming links so as to avoid spam, but can anyone tell me if the SE's look at part of the anchor text or all the anchor text as one. Here's an example. My anchor text link might say: ABC Widget Co - cheap widgets. It would be rare for someone to search for the whole phrase but do the SE's put any value on just the "cheap widgets" part of the anchor text? So, if I want to push the phrase "cheap widgets" (which most people would be inclined to search for)would I only have to use these words only in the anchor text? or would the I gain any benefit from putting say the company name in the anchor text as well?