301 a strong landing page to homepage and rankings dropped?
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Without more details it's impossible to give you specific reasons.
Your ranking is not just about the number of links to the page but also about the relevancy of that page to the search term.
By trying to target multiple keywords on a single (home)page, you're making your page less and less specific to any one of these terms. By diluting your page in this way you are in danger of making the page weaker and weaker.
For example, have you got all of these keywords in your home page title? What is the page about? If you have, how compelling is that going to make the SERPs snippet to searchers?
If these keywords are important to you, then my recommendation would be to go back to the landing pages, and optimise each page for the specific keyword.
You need to think about what they keywords really mean to your business/site and what the landing pages need to do.
Think about what people searching for that keyword are after (look at the other ranking pages) and try to provide the best possible content. What is their intent / their goals? You can then positition your offering/solution and through some compelling calls to action, try and get these visitors to engage with the business.
Your homepage doesn't need to be the only front door. Once people are introduced to your site, via decent landing pages then maybe the next time they'll search for your brand name (for which your homepage should be ranking!) Visitors with different levels of awareness of their problem/your offering etc will need different content to move them towards your site's goals.
Also note that a 301 redirect isn't going to pass on the full value of those inbound links.