The home page is often the most visited page on the site, and also the ‘face’ of the company. It is important for this page to mirror the goals and mission of the company along with presenting a strong sense of a dynamic and growth orientated company.
It's important that the main content area change at least once a week. This sets the user and search engine's expectations that they need to check back that often to find the new content. The more relevant and meaningful it is, the higher impact that content will be.
Flash animation on the home page can be a dangerous thing, at least as a Hero Image or main banner. Many times the same conversion goals can be accomplished in a more SEO consistent way. For example, a carrousel of images switched via javascript can be implemented, and that is very SEO friendly. Flash, not so much. Also, animation, unless done well, really challenges users.
Another important factor is the labels on the page, or headlines. These must be what is expected. They need to be the same general visual tone as the rest of the text. If they are too different, the user will not immediately see them as a text element, but as a graphic.
Also, what is the one thing that you want users to do when they come to your site? If it's a lead generation site, make sure that's evident. If you are trying to nurture the lead, make that click path evident and easy. Use strong messaging.
Getting the home page right is hard. The one thing you can do is to test. Test to see what works and what doesn't.
