This article from W3C tells you what they think you should do https://www.w3.org/WAI/GL/wiki/ARIATechnique_usingImgRole_with_aria-label_forCSS-backgroundImage
and has examples here http://mars.dequecloud.com/demo/ImgRole.htm
among which
<a href="http://www.facebook.com">
<span class="fb_logo" role="img" aria-label="Connect via Facebook">
</span>
</a>
Still, if, like in the above example, the element containing the background image is just an empty container, I personally prefer to put the text in there and hide it using CSS; right where you show the image instead:
<a href="http://www.facebook.com"><span class="fb_logo">
Connect via Facebook
</span></a>
.fb_logo {
height: 37px; width: 37px;
background-image: url('../gfx/logo-facebook.svg');
color:transparent; overflow:hidden; /* hide the text */
}