Broken and outdated links indicate that you aren't paying close enough attention to your site. Customers expect to find the things they are looking for and if their searches are met with 404s or other error messages, they may click off your pages. Non-working links can undermine your credibility if your site promises something it can't deliver.
Take the time to check all internal and external links, as well as any ad banners that appear on your site. If your site has undergone some changes recently, it wouldn't be uncommon for code to inadvertently get damaged, resulting in a broken link.
The W3C® Link Checker from the World Wide Web Consortium evaluates links from any URL and responds with a thorough report on which links need fixing.
Solicit help from your site users and ask them to report any broken links they find on your site. Create a Web-based form or a support e-mail address so your visitors can quickly notify you of any errors.
Also, by checking the outbound links that you've exchanged, you get an opportunity to see if the content you are linking to has recently changed. Domain names often change hands quickly and a site that once complemented your content may now lead visitors to something less reputable.
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