What are the top 5 things that bloggers should do to optimize their blogs and blog posts?
First, you'll want to get a handle on the basic principles of search engine friendly design. SMX had a session on it, and Barry Schwartz' SERoundtable live-blogged the session. Most important, in my opinion, is getting your navigation made using keyword-rich text links.
Second, I would put serious consideration into the blogging system (also called blogging platform, content management system or CMS) that you're using. I spent a very long time using Google's Blogger, because I kept reading that it had an easier learning curve than WordPress. That's pure hogwash, and I wish that the misconception would quit being spouted off. When I made the switch, the system was completely intuitive, and I know that it would have been even without my prior experience with Blogger.
Another good reason to use WordPress instead of Blogger is because it's easier to SEO your site and optimize individual posts. That's because you have plugins that add functionality to WordPress in a way that is welcomed by WordPress' makers. The All In One SEO Pack is a classic, for starters.
Then you have plugins that will allow you to control at the individual-comment level whether the link a commenter leaves back to his own site is "dofollow" or "nofollow." Dofollow links help web pages rank in Google while nofollow links have no effect, positive or negative (I note in passing that this is something Google cares abou, but I've yet to see Yahoo or MSN say that they care/use it). The reason this matters is because by rewarding good commenters with dofollow links, you help build a relationship with them and then they'll link back.
There are plenty of other plugins, and a much larger developer community working on WordPress plugins than there is on Blogger hacks. The fact that you have to 'hack' Blogger to implement certain techniques reflects on it being a closed Google platform that doesn't do much to encourage outside developers (in my honest opinion). But don't take my word for it - Google's lead search engineer, Matt Cutts, uses Wordpress.
Getting back to the question, the third thing bloggers should do to optimize their blogs is scope out blogs of a similar size to their own and seek to build relationships with their authors. That's how Susan Gunelius and I got started - she left the first comment ever on my SEO blog! I commented back, did a guest post on her branding blog and told my friends who were writing about branding to speak to Susan since she's an expert. Now look where we are.
For the fourth part, you want to write mind-blowing, jaw-dropping, contortionist-stiffening titles. Attention is a precious, limited resource that everyone else is competing for. If you write bland post titles, no one's going to check out what you have to say. To be honest, this is something I'm still struggling with, though when I do pull it off (or get help from friends) it works well! If you need help getting inspiration, a swipe file is great. Here are a couple of resources to help you out in that respect:
Finally, make sure that your posts are original. People don't need your rehash or commentary on the news - they're already linking to their friends' rehashes and comments. If you can do research (think: read some articles in an academic database and extract the key themes/trends/stats), that tends to get noticed. If you interview an industry leader that helps as well (my interview of Aaron Wall was very well received, for instance) besides building a relationship with them.
What role does relationship building play in SEO?
With the exception of the most competitive industries - where paid links are a de facto requirement - relationship building is the easiest way to get links. Friends link to friends, mostly. That's why it often feels like the A list is a closed list, regardless of what industry you're in - because the A listers often know each other personally and are on friendly terms. This post covers some ideas of mine for social media analytics, and since social media is about building friendships online, it's also got useful tips on making investments in your relationships.
