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Thank you so much Marie!  I was estimating the date for the drop and when looking at GA and GWT it looks like the significant drops were around Dec. 8, 14 & 23.  Originally I just assumed that these were the drop in searches as the holiday approached.  Then another big drop was around 1/15.  So, I am not sure if the P & P updates would show an immediate drop in traffic or if it would adjust within 2-3 days of the change.  So, with that said, what do you think should be the top priority to focus on in the coming weeks in my recovery effort?  I had actually added some of those links in the footer within the last week hoping to optimize those pages and work on keywords that were less competitive.  Now I am thinking that may have caused additional drop.  Thoughts?? Thank you!!

Thank you, Mike!  Valuable lesson learned in the last few weeks.  I was not even remotely prepared for the Panda & Penguin updates.  Your insight is greatly appreciated!

Thanks Jason!  There was no change to the site at the time of the drop.  The content has basically stayed the same for years except for the adding and deleting of products.  I thought is was fairly solid and we had strong serp rankings for years, so honestly I didn't think I need to change much.  But since the drop I have corrected errors found in SEOMOZ as well as GWT crawl errors,  re-submitted a new site map, turned on the canonical link feature, etc. and as you can imagine my rankings are either dropping or all over the board.  Thank you so much for your input - I don't mind the time or the hard work, but was getting nervous I was chasing the wrong path.  Your input is so appreciated!

Thank you!

Thank you!  So, if this is the big issue that is effecting me (the most drastic drop happened around the 18th of February), would the best/quickest way to address it be updating the content/descriptions on my site (since I can't really effect that in the other search results)?

Thank you so much for that information - So if I was focusing on the most accurate/current rankings specifically in Google,  the GWT is the data I should be looking at - correct?  Thank you!!

Does anyone know why there would be a difference in average position from GA and GWT?  I am seeing completely different results for the same date ranges.  Thank you!

I started using SEOMOZ due to a sudden and huge drop in Google for two main keywords (hair bows and baby headbands).  Our site (BloomingBows.com) has held a top three spot for years with these words and then in the last few months has dropped down on the first page and now they are completely off the charts.  Is there any insight as to why?  Also, we have been very active using the data from here in the last week or so to clean up and improve anything listed, but I am still seeing keywords drop into the 40 - 60 position and our traffic is drying up.  Starting to panic and wondering if I am missing something or going about this in the wrong way. ANY insight is appreciated at this point!!  Thank you!!

Thank you, Mike!  Valuable lesson learned in the last few weeks.  I was not even remotely prepared for the Panda & Penguin updates.  Your insight is greatly appreciated!