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[edited by: tedster at 2:16 pm (utc) on Aug. 18, 2008]
Have you gone into specific search terms, rather than trying to solve it from the top level of just traffic and general ideas?
every time i tell people about this they tell me i'm talking rubbish, but it's happened 3 or 4 times now, and i'm sure that it's true.
you dont notice this effect on big sites, but if you have a small-ish site (mine is about 1000 pages) and you suddenly add another fifty to it, then all the page rank for your well-performing pages gets diluted to these pages that currently rank zero. over time they will build themselves up as well, but you need to stop the page rank getting to them in one go. you need to spread your page rank out better by using rel=nofollow.
ever since i've been liberal with the ol' nofollow on my internal links i've been fine.
Here what I found:
Removed sitewide outbound 404 deadlink to a BBB site that had a redesign.
Removed a few outbounds in our old link page that were questionable, also 404's
Redesigned our side menu from 110 links, to 50. Added menus based on content of page.
Got some listings in top directories.
Found a few blogs to do some product reviews.
Published 2 press releases.
Published 5 ezine articles.
Started an article section on the site, adding more articles every week.
Cleaned up Webmaster Tool Errors.
Now we are back better then ever, longtails we never had ranks are now coming in. site: is reporting 2000 more urls!
Hang in there!