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The website having the page ranking may increase the amount of visitors to your website.If you rank high in search engine(say in the top 5) increase the amount of visitors this leading to enhanced profitability or popularity..But it wont make your website more worth because there are lot of factors is there for getting the website more credibile(worth) .When you search any keyword using a search engine then it displays thousands of results found in its database. A page ranking is measured by the position of web pages displayed in the search engine results. If Search engine is putting your web page on first position then your web page rank will be number 1 and it will be assumed as with a high rank.The basic process involves page rank evaluating all of the links to a particular web page. Page rank indicates the importance of a website in the eyes of Google like search engines. It is the system that Google showing the most relevant results to the searcher.Higher rankings also means greater exposure because when a website ranks in the top positions it gets more links, more visits and more social media mentions.Search engines uses a variety of methods to determine which pages are displayed first in the results. Their exact formula is a secret, but there are a few things you can do to improve your positioning.That are given below 1)Include useful high-quality information on your site. 2)Update your site frequently adding new content that keeps users returning to your site. 3)Have a link-worthy site 4)Target the right keywords. 5)Search for high page rank websites and place a constructive comment on their blog. 6)Volunteer your services. 7)Submit your site and any other favorite sites to as many social bookmark sites that you like. 8)There are many online vendors available with the service like SEV in XnYnZ.com which improve search engine rankings with keyword and suggested topics tool,increase traffic to your website with higher rankings with One-click submission to Google, Yahoo,etc.
It factors in to getting high search results, but it is only part of the recipe for Google special sauce. Of course, Google keeps that recipe secret, so much of what we think matters and how much is only a guess. I read once that Google made nearly 500 changes to its search algorithms in one year, so the target is always moving.
As Google puts it, PageRank is how "important" they think a website is. I read Larry Page referred to it as counting votes. Much of the formula is based on links to your content ("votes"), which it why you see spammers trying to get link-backs on highly ranked sites. The irony is that if they were successful in getting their links left up, it would probably lower the value of those links due to excessive numbers of them.
I think it is fair to say that a high PageRank doesn't ensure that you will have top search results, there is definitely a relationship. Whether that is because sites with high PageRank tend to have better SEO and higher quality content or because of PageRank's impact on search results is speculative. Look at IT World - it has a high PageRank, but it also constantly has fresh, high quality content. So which comes first, the chicken or the egg?
Google says it does'nt matter much but honestly I think it does. Inftact all the sites with good PageRank have good SERP positions. Check the comment section of this article Matt Cutts himself said:
"the drop in Toolbar PageRank is an indicator of the decrease in our trust of the site."
Btw, ITWORLD has 7 PageRank. :P