According to the findings from Moz’s 2013 ranking factor study, the question "Is keyword optimized page-level content still import?" can be answered with a definitive YES.
Measuring the “relationship between the keyword and the document” (using both TF-IDF scoring and language model scoring), the study determined that the title tag, body of the HTML, meta description, and the H1 tags all significantly correlate to high search rankings.
But how does page-level content stack up in comparison to other ranking factors such as links and social metrics? The answer is that though links are still considered the most important ranking factor (domain level plus page-level equals approximately 40%), keywords in page-level content follow closely behind.
What does the future of Search Marketing look like?
SEOs who participated in the 2013 Moz study predict a shift from traditional high-impact ranking factors, such as anchor text and exact match domains, towards a “deeper analysis” trend where algorithms determine a site's perceived value through authorship, structured data, and social signal metrics.
(Source: The Moz Blog, 2013 Search Engine Ranking Factors by Matt Peters)
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