QUOTE: “Returning a code other than 404 or 410 for a non-existent page (or redirecting users to another page, such as the homepage, instead of returning a 404) can be problematic. Firstly, it tells search engines that there’s a real page at that URL. As a result, that URL may be crawled and its content indexed. Because of the time Googlebot spends on non-existent pages, your unique URLs may not be discovered as quickly or visited as frequently and your site’s crawl coverage may be impacted (also, you probably don’t want your site to rank well for the search query” GOOGLE
QUOTE: “(Google Panda) measures the quality of a site pretty much by looking at the vast majority of the pages at least. But essentially allows us to take quality of the whole site into account when ranking pages from that particular site and adjust the ranking accordingly for the pages. So essentially, if you want a blunt answer, it will not devalue, it will actually demote. Basically, we figured that site is trying to game our systems, and unfortunately, successfully. So we will adjust the rank. We will push the site back just to make sure that it’s not working anymore.”  Gary Illyes – Search Engine Land
Goals and Objectives. Clearly define your objectives in advance so you can truly measure your ROI from any programs you implement. Start simple, but don’t skip this step. Example: You may decide to increase website traffic from a current baseline of 100 visitors a day to 200 visitors over the next 30 days. Or you may want to improve your current conversion rate of one percent to two in a specified period. You may begin with top-level, aggregate numbers, but you must drill down into specific pages that can improve products, services, and business sales.