As part of my company's ongoing SEO effort we have been analyzing our link profile. A colleague of mine feels that we should be targeting at least 50% branded anchor text. He claims this is what search engines consider "natural" and we should not go past a threshold of 50% optimized anchor text to make sure we avoid any penalties or decrease in rankings.
50% brand term anchor text seems too high to me. I pointed out that most of our competitors who outrank us have a much greater percentage of optimized links. I've also read other industry experts state that somewhere in the range of 30% branded anchor text would be considered natural.
What percent of branded vs. optimized anchor text do you feel looks "natural" and what do you base your opinion on?