I would like to know if no. of internal links in a page affects its page rank or not?
lets say: a page contains 50 internal links is better than 5 pages interlinked with each other having 10 internal links each is better?
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Please, do not get caught up in the whole "I NEED EXCELLENT SEO SO I CAN BE SEEN!" thinking pattern.
I own a consulting company that specializes in SEO. Here are some things to consider regarding links:
Consistency: The format of which the urls are written in must be consistent. For example, if you have a total of 100 pages, and the main pages are like this: main-page1.html, main-page2.html, main-page3.html and some are like: main_page.html, main-page.html, and mainpage.html, that is bad.
Keep the format simple, and consistent. either use a "-", or "_" to separate words and numbers in URL's.
Usability: What's the point of indexing a site if you can't use it?
Valuable Content: This is the most important rule. If your website has nothing valuable on it, why should it be indexed? And why should people visit it?
Now, to answer your question, what do you think would be easier for your VISITORS? Do you think it will be easier for your visitors to navigate around 5 different pages, or one page with 50 links?
One page with 50 links: PROS: They're all accessible from the one page, and can be easily found if you know what you're looking for, and if the site is well-designed.
CONS: 50 is quite a big number, especially when we're talking links.
5 Pages with 10 links: PROS: There won't be any pages that's jam-packed full of links. And it may be easier to navigate around 5 pages, than simply displaying all 50 links on a single page.
CONS: If these links are not all related to each other, it can lower your pages relevancy. It could also prove to be very annoying if you have to click through to various pages just to find the one you want.
Conclusion: Have you thought about a multi-level drop-down navigation menu just for these links, devided into categories and sub-categories, if applicable? That way, it can all be on the one page, and still be easy to find.
I know SEO is a very important subject from business point of view, but usability, accessibility and design also does matter, and a lot, hence this other measures and features regards how your customers/users interact with your site. Do not forget about this.
Now from SEO point of view, having more than 100 links in one unique page, unless it is a detailed table of contents, starts to be bad.
Something around 40-75 links per page is the "normal" and "acceptable" from SEO perspective. (check SEOmoz beginners guide for further information).
There used to be rules about not having more than 100 links per page, but that is no longer relevant - the average page on Wikipedia has over 300 links. So link whatever feels natural within the page content.
If the page is only a long list of links, I would suggest keeping that old limit in mind - for usability as much as anything else. More than 100 links in a list becomes unwieldy to parse and the user can suffer from the "paralysis of choice". Try and categorise too, if possible.