My Page Ran Dropped from 3 to 1\. What would cause this?
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Has your traffic changed? Have your sales changed? Or is the only change a few pixels in a toolbar?
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Our traffic has slightly increase, sales the same. The trouble thing is dropping from a PR 3 to 1 hurts especially we you are making efforts - time, cost, energy to publish daily content. What you recommend as a fix?
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You don't have the proper understanding of the case. Google updated PR in December and the previous update was in February. If you didn't update the content and didn't get powerful backlinks and lost few old backlinks it is a norm that for the period of PR update your PR wasn't big as you expected. But again I don't see any problem in the missing PR if your traffic and sales grow.
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The ironic thing we did update our content on 100 or so pages we did lose some back links but we added 3 blog articles a day for the past 35 days.
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Be aware that what you see in the toolbar is Toolbar PageRank. It's an approximation of the PR a site has, and is updated infrequently, and isn't necessarily very current (even right after an update). Matt Cutts stated that programmers at Google were working on something else broken on the toolbar and decided to update the PR displayed.
Google has their own PR they use internally, that is updated, and much more refined than anything any of us get to see.
I'd be more worried about your traffic, sales, any messages in Google Webmaster Tools, etc. Those are what you should be paying more attention to.