Is Page Speed Costing You Money?

If you didn’t know, page speed is a measurement of how quickly the content on your page loads and displays everything to the user. Author’s side note: it’s not the same as site speed which refers to your website’s average page speed!

Anyway, unsurprisingly, in today’s fast-paced digital world, people want and expect, your website to be fast. Simply put: nobody likes a slow website.

You may be wondering: how important is this one single factor really and how does it affect my profits?

Well, it actually matters quite a lot.

Research has shown that if your website isn’t quick, you’re going to lose website users, which ultimately damages your sales and revenue.

In this article, I’m going to explain why page speed matters for your business and how you can improve it.

Why Page Speed Matters

Like we mentioned above, faster website pages are not only more efficient but tend to typically correlate with a boost in your website’s conversion rate, too. Studies from within the industry have revealed that page speed can directly affect your website’s conversions, your sales, your position in organic search, and more.

Sales

We know that your page speed can either negatively or positively affect the number of sales made via the site. However, consider these statistics which really illustrate how important fast page speed is!

• Amazon discovered that for every 1 second of additional loading time, they lost around $1.6 billion in sales.
• Walmart found that for every second of page speed improvement correlated with a 2% increase in conversions.
• According to a study, 14% of your audience will shop at another website if your page loads slowly and another 23% will simply stop shopping altogether.

Customer Lifetime Value (CLV)

Sure, your page speed might be negatively impacting your user’s shopping experience, but have you considered that this might also prevent them from coming back?

If your website has lots of page speed issues and a difficult checkout process, it’s unlikely that customers will return to your website. This will negatively impact the lifetime value of your customers (a super important metric for e-commerce companies) and lead to a huge financial loss. Consider these facts:

• Hubspot discovered that 80% of dissatisfied customers were unlikely to make a purchase from the website again.
• Additionally, they discovered that 40% of dissatisfied web users will talk poorly about their online experience with your website, negatively impacting your reputation.

Search

As mentioned, page speed is a major ranking factor for your visibility in search results.

If your page speed is poor, it can negatively impact your visibility in the search engine results because faster sites are given a boost. Author’s second side note: while we’re on the subject, it can also negatively affect your GoogleAds campaigns, too

Mobile page speed is especially important, as Google indexes primarily based on mobile performance factors rather than desktop performances.

How To Improve Your Page Speed

There are many ways to improve your website speed to enhance the user experience. This can be done largely by optimising images and code as well as making some server configurations.

Is your website running slowly? Are you interested in improving your website’s page speed? Do you want to provide a better user experience? Do you want to increase your profits? Get in touch with our team to find out how we can help.