Disavow everything or manually remove bad links?
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Our site is likely suffering an algorithmic penalty from a high concentration of non-branded anchor text that I am painstakingly cleaning up currently. Incremental clean-ups don't seem to be doing much. Google recommends I 'take a machete to them' and basically remove or disavow as much as possible, which I am now seriously considering as an option.
What do you guys recommend, should torch the earth (disavow all links with that anchor text) or keep it on life support (slowly and manually identify each bad link)?
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Disavow all the suspicious links, but also remove as many as possible. Google wants to see that you did work on cleaning up your link profile and not just disavowed the links.
If you're busy, then outsourcing link clean-up can be an option. Be prepared to pay $5-20 for link removals, because some site admins charge money for the work.
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Great, thanks Gyorgy for the advice.