Great content is king but content for the sake of content is useless. It may help you in the short run but certainly not in the long. You need content that searchers can use. And that content needs to be continually updated and added to. The more new content you have the more spiders will come back to crawl you. Think of good content as spider food. Spiders love it. Human directories love it to. Give other web sites a reason to link to your good content. Incoming links are still used to one degree or another by all algorithms. You also need to keep that content optimized - keyword heavy (but not keyword stuffed!). Conversion is emperor? Sure, but you've got to get customers there first. And content is the one sure way to do it.

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david r williams
search engine optimist