As mentioned previously, Penguin 2.0 has resulted in a big drop for all home page keyword SERPs. For example:
* accountants <townlocation> has gone from #1 to #9 (never moved from #1 for last 3 years)
* accountants <citylocation> has gone from #2 to #26
We are just a small accountancy business and previously competed very well against the huge accountancy websites across the country due to our very good and regularly updated content. PR4, DA37, PA47 are better stats than any other small-medium sized accountancy. We have about 10,000 back-links which I have created over the last 3 years with visitor numbers going up every single month.
Looking at the <townlocation> NEW #1 website, this has PR2, DA15, PA29 and has a total of 12 (yes 12!) backlinks, only 2 of which use "accountants <townlocation>" in the anchors and both are no-follow. Basically it's only ranking at all because the keywords are the first thing in it's home page TITLE.
In fact the top 5 SERPs results are all the first words exact match in the title!
So now I am wondering if this update was less about backlinks and more about title weighting....