Thanks for your input. The story goes like this: we started appearing at #1 for a competitive keyword. Then suddenly I can see we are nowhere for that keyword. However, we are still appearing for some other keywords that we targeted.

We never ran any link campaigns. The page has got some directory links and links from articles, press releases and forums.

The keyword I am talking about is a 2-words phrase, each of the words are present in the content of the site, however, it was not listed as a phrase anywhere in the content. So can that be a reason?

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