Ok well basically i have a wordpress blog targeting a particular keyword in a niche. It has a page rank of 2, and highly ranked for a keyword which i accidentally chose (based on Broad match instead of Exact) and gets around 20 visits a day. I recently found another keyword in the same niche, which gets way more searched per day with exact match. Anyway im not sure if i should build a brand new website/wordpress blog for this new keyword, or modify my current site (which is in the same niche) and optimize it for this new keyword. The only reason why I'm hesitant is because the keyword which i first targeted is in the URL, and i have built many back links around with the original keyword as the anchor text. So my question to you, would you build a new site, or just optimize my older site around the new keyword and don't worry about having the old keyword in the website?
If I were in your case, I'll just use the old url. Yep, I chose the first option. Why?? Cause all your hardships in the first url will be vanished. I can't afford to experience that.
It's great that you have good position for the 1st keyword. now you can simply add content using the second keyword it won't hurt you in any way. You can write every second post with a new keyword. of course you shouldn't forget to write posts for the first keyword. In some time you'll rank well for both of them! so there isn't any reason to sart a new blog. A lot of blogs are optimized for several keywords. Just be sure to update your blog regularly!
If it's just the same niche, it would be better to start targeting them both. Targeting different keywords will increase your organic traffic especially if these keywords have high search volume and you've managed to let them listed in higher position in serp.
Quality is always better than quantity... If I were you, I would give more focus towards my first website..
use the same URL, because as it gets older, google starts to trust it mopre. Just make text changes and slowly added your new keyword in the metatags.
Well, I disagree with the previous comments, because 20 visits a day is so negligible, you may as well start again, and give yourself the advantage of a more suitable url.