Was the perecentage of valid traffic sites were getting before a Panda update actually a very small proportion of really good traffic and after an update we are seeing that taken away leaving us with less qualified traffic and lots of rogue bots and ghost visitors?
For example I have just analysed the first ten days of December v 2010:
Impressions 84.12% Clicks 47.14% CTR 56.22% EPC The same eCPM 56.35% Earnings 47.33%
Therefore does my 16% drop in page impressions equate to nearly 53% in earnings?
Nope, it doesn't work like that for me since using my second biggest site as an example:
Impressions 132.09% Clicks 44.76% CTR 33.95% EPC The same eCPM 33.53% Earnings 44.38%
And I thought I was doing badly last year therefore something else alongside Panda must be happening otherwise why did I see a 50+% overnight drop in earnings that has remained at this new fairly consistent level ever since?
Yep, I know that was the OP's question, G has the answers and G has the increased earnings, not me!
One of my sites experienced a 30% decrease in traffic at the time of Panda 2.1 (since then traffic has grasdually increased as different of my pages have slowly edged up to their previous positions.
The curious thing is that the drop in traffic was accompanied at exactly the same time in an increase in earnings (essentially an increased cpc). My guess is that maybe other sites showing adsense were more badly hit by Panda. So even if I'd gone down from position 3 to position 7 for a particular search term, maybe now I was the highest ranking site showing adsense - just a guess!
This is really strange: The April Panda wacked my visits, but my eCPM almost doubled, offsetting the traffic lost. The October Panda wacked again, and this time eCPM declined MORE than the traffic loss. I assume I lost kwds that were paying a premium.
Panda is blamed for every downturn nowadays. In fact no one knows what is a Panda update and what is a normal update. Combine that with Google's aim with Panda to add mud to the water so that no-one (and that includes google) knows what is going on, then any talk nowadays about the effect of Panda is whistling in a gale.
Let's face it folks, you don't understand Panda, I don't understand Panda, Google don't understand Panda, so forget about it and just take each update as a normal update.
I really think think that Google are laughing at the lot of us here regarding Panda. The prime aim of Panda was to explode the myth of SEO and it has acieved that aim with ease.