Simple formula has been working well for me.
Exact search term match in title... no other text...just exact search term
Exact search term in URL... use a URL slug: similar to
http://mydomain.info/my-exact-search-term/
Use the exact search term as the first text in the meta description: "my exact search term: blah blah blah"
For the target search term visit the top 5 results in google and view source. Count how many times each word in the search term appears in the source... stuff your page to be above average.
Set the meta keywords to the exact search term and nothing else.
Use the exact search term in a heading
Then build some good backlinks to the page using the exact search term as the link text. Quality beats quantity.
I find for 3 word search terms that the content tuning makes my page VERY relevant for the search terms and by itself often gets my pages into the top 20 results... backlinks do the rest of the work pushing the page into page one. The better job you do tuning a page for a target search term the fewer backlinks you will need to get onto page one. Its all relative to the search term... some are harder to rank for than others.
Out of any 100 targeted search terms attempted I tend to get about 15 into the top 3 results and over half onto page 1, but they are all long tail search terms. (I rank on page 1 for over 50,000 search terms)
Hope this helps!