Another reason is that if you're using an image as a link, the alt text for that image will be treated similarly to the anchor text of a text link. However, we don't recommend using too many images for links in your site's navigation when text links could serve the same purpose. Lastly, optimizing your image filenames and alt text makes it easier for image search projects like Google Image Search to better understand your images.
On another note, we recently went through this same process with an entire site redesign.  The executive team demanded we cut out over 75% of the pages on our site because they were useless to the visitor.  It's been 60 days since the launch of the new site and I've been able to still increase rankings, long-tail keywords, and even organic traffic.  It took a little bit of a "cowboy" mentality to get some simple things done (like using 301's instead of blocking the old content with robots.txt!).  I predicted we would lose a lot of our long tail keywords...but we haven't....yet!
As an Internet marketing strategy, SEO considers how search engines work, the computer-programmed algorithms that dictate search engine behavior, what people search for, the actual search terms or keywords typed into search engines, and which search engines are preferred by their targeted audience. SEO is performed because a website will receive more visitors from a search engine the higher the website ranks in the search engine results page (SERP). These visitors can then be converted into customers.[4]

Great post. I know most of the stuff experienced people read and think “I know that already”… but actually lots of things we tend to forget even though we know them. So its always good to read those. What I liked most was the broken link solution. Not only to create a substitute for the broken link but actually going beyond that. I know some people do this as SEO technique but its actually also useful for the internet as you repair those broken links that others find somewhere else.
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