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Their most recent update by Google, named “Penguin,” was launched in April 2012 and are expected to continue through the end of 2012, has  penalizing over thousands of  sites with low quality links or too much same anchor text links on money keywords or low ratio of good links as compared to poor links and other SEO related link building techniques.  It has hit the all medium and small scale sites which are ranking well from last many years by Google. Most of the customers of SEO companies are affected by the Google algorithm change. However Google  Engineer Matt Cutts claim  that neither Panda nor Penguin are penalties, they’re both algorithm update What Matt Cutts  replied to Search Engine Land Editor-In-Chief Danny Sullivan in a Interview about penguin

We look at it something designed to tackle low-quality content. It started out with Panda, and then we noticed that there was still a lot of spam and Penguin was designed to tackle that. It’s an algorithmic change, but when we use a word like “penalty,” we’re talking about a manual action taken by the web spam team — it wasn’t that.

Now the major question which all SEO industry is asking what to next. Now post Penguin strategy for sites hit by update is to remove low quality links and create good links and for sites not affected we have create more quality links. t has increased the demand of high quality links and effective SEO techniques Google Penguin Update has changed the whole SEO industry and what we concluded is as follow and will like to share with you Post Penguin Linking Strategy (Off Page)

Anchor Text

Anchor text diversity

Brand plus Keyword in anchor text

URL in Anchor text ( www.example.com, example.com etc )

Only Brand in Anchor text

Link on “Read More”“click here”, “Learn More” “continue” “visit site” as Anchor text ( Junk Anchor text)

Proper Ratio of “nofollow” and “dofollow‘ links

“Nofollow” link is now compulsory part of natural links profile

Social Media links as social signal are important now

Proper link type distribution (for example, Article, Comment, Directory, Community, News, Blogs and Social Media etc.)

Promotion of every page of site instead of only home page

Promotion of each blog post on Social media

Relevance and Domain Authority of back links

User Data will also be considered for ranking

On the basis of study conducted by SEOS we conclued that get 60% links on brand and URL, 30% partial, phrase, and broad match keyword anchor texts and 10% exact match on keyword including money keywords.