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To improve the efficiency of a text link you need to make it as attractive as possible. In other words, the link needs to attract attention. In the past banner ads applied the idea of making it attract attention totally in the wrong way. Many banners became very anoying images on a page, often flashing on and off and things like that. As a result most internet surfers became selectively blind to banners. Then Google decided to allow Image Ads in Adwords. I wrote an article on how to make Image Ads as atractive as possible which pretty much can be applied on text links as well. The key is to accept that not everybody will notice your ad/text link and to make sure that those interested in what your website is about, do notice it and to give them a reason for clicking on it.