When the dust has settled, page C has lost a little PageRank because, having now shared its vote between A and B, instead of giving it all to A, A has less to give to C in the A–>C link. So adding an extra link from a page causes the page to lose PageRank indirectly if any of the pages that it links to return the link. If the pages that it links to don’t return the link, then no PageRank loss would have occured. To make it more complicated, if the link is returned even indirectly (via a page that links to a page that links to a page etc), the page will lose a little PageRank. This isn’t really important with internal links, but it does matter when linking to pages outside the site.
There are three main types of results on a SERP: Pages that the search engine spider has crawled and indexed; pages that have been manually added to the search engine’s directory; and pages that appear as a result of paid inclusion. The highest-ranking hits generally link to the most useful information; links grow less relevant as they move farther down the list.
There’s no way to speed up the process. To encourage your PageRank to grow, keep making quality content that others will want to link to. You may also consider participating regularly in social media communities to get the word out about the new content you are creating. (Social media participation itself won’t help your PageRank but it will help other humans know your content exists, which can help inspire an increase in natural inbound linking.)
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If you want to concentrate the PR into one, or a few, pages then hierarchical linking will do that. If you want to average out the PR amongst the pages then "fully meshing" the site (lots of evenly distributed links) will do that - examples 5, 6, and 7 in my above. (NB. this is where Ridings’ goes wrong, in his MiniRank model feedback loops will increase PR - indefinitely!)
Cautions: Whilst I thoroughly recommend creating and adding new pages to increase a site’s total PageRank so that it can be channeled to specific pages, there are certain types of pages that should not be added. These are pages that are all identical or very nearly identical and are known as cookie-cutters. Google considers them to be spam and they can trigger an alarm that causes the pages, and possibly the entire site, to be penalized. Pages full of good content are a must.
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By 2004, search engines had incorporated a wide range of undisclosed factors in their ranking algorithms to reduce the impact of link manipulation. In June 2007, The New York Times' Saul Hansell stated Google ranks sites using more than 200 different signals. The leading search engines, Google, Bing, and Yahoo, do not disclose the algorithms they use to rank pages. Some SEO practitioners have studied different approaches to search engine optimization, and have shared their personal opinions. Patents related to search engines can provide information to better understand search engines. In 2005, Google began personalizing search results for each user. Depending on their history of previous searches, Google crafted results for logged in users.
Companies that employ overly aggressive techniques can get their client websites banned from the search results. In 2005, the Wall Street Journal reported on a company, Traffic Power, which allegedly used high-risk techniques and failed to disclose those risks to its clients. Wired magazine reported that the same company sued blogger and SEO Aaron Wall for writing about the ban. Google's Matt Cutts later confirmed that Google did in fact ban Traffic Power and some of its clients.