Importance of rankings?
Rankings are very important or crucial as they are closely linked to inherent human nature to seek/reach out to for that object/thing that closely matches the requirement. This in case of search, is based on queries and the results on the top always carry that importance & authority.
Favourite Ranking Strategies?
External Links from blogs, Social Posts relevant with Website content, Authentic content keeping in mind the possible user/consumer of the same.
Elements to be covered in SEO site audit?
Site design, it should be clutter free with easy navigability, Use of keywords based on the type of users one wants to reach out, Optimised URL & URL parameters.
Your Dream Feature not present in current SEO tools?
While there is a whole host of automated tools what is key for from SEO perspective is that Choice and use of effective keywords which are a derivation from the intended users.