I need some advise. I had an SEO/SEM guy set up a company blog (domanname/blog/) for SEO purposes. He has been able to get some new traffic (non converting traffic) through getting some of the posts to the top of google on some long tail phrases. It has been going for a year now.
Here is my concern. I have a bit over 200 out going comment links in the blog that do not have the "nofollow" attribute. A few are to related sites, but many are not. I told him my concerns that this could hurt our rankings, but he assured me it was ok and that it was more important to give people an insentive to post comments so our blog would look active.
After a year, we have really slipped on some of our top keyphrases, our home page PR dropped from a 4 to a 3 and I am really struggling with what to do. I have about 1,300 backlinks according to yahoo and have over 250 links going out, mostly from this blog. Should I switch the WP blog comments to nofollow (they are currently set to rel='external ')?