Compound anchor text blends more than one anchor type into a single link instead of relying on a pure brand name, a pure keyword, or a pure "money" phrase. "Click for brand name phone models, brand name phone prices" is a typical example: the brand name and a commercial keyword both appear in the same anchor.
It exists mainly as a defense against a link profile that looks manufactured. A site whose backlinks are overwhelmingly exact-match or money anchors ("best budget phones," "phones for sale") is showing a pattern real, organic linking rarely produces on its own, since people writing naturally about a brand don't optimize their link text the way an SEO campaign does. Google can read that uniformity as a signal of non-organic link building. Mixing anchor types, including compound anchors that carry a keyword without reading as pure keyword-stuffing, is one of the more reliable ways to keep a backlink profile looking like something people actually wrote rather than something built to rank.
