One of the best things your can do to improve your website is increase its speed. If your website is not loading as quickly as it could be, you are doing your business a disfavor.
The reality is that users expect to find information on your website quickly. It is not just a preference – it is an expectation. This means that slow load times are much more than an inconvenience to your users – They have a direct impact on your revenue. Many businesses fail to see the importance of speed when it comes to their sales. For example, according to Akamai, if your website takes longer than three seconds to load, you could potentially lose close to half of your visitors. People are impatient, which means that every second counts when it comes to website speed.
Below, we will demonstrate how optimizing your website’s loading time can positively impact your conversion rates, Google ranking, and user experience.
What happens when your website is too slow?
As we mentioned earlier, people are impatient. If your website is loading too slowly, your users will inevitably abandon it. As a result, your business will lose a ton of sales. In fact, Amazon conducted a study on this and discovered that they would lose $1.6 billion annually if they slowed down their load time by just one second. Their results illustrate the correlation between a company’s website load time and sales.
Cdnetwork noted that reducing your site’s load time by 3 seconds could increase your revenue by 7-12%. Ultimately, your website’s speed has a great impact on conversion rates. Therefore, it should be evaluated and improved upon as needed.
On a few occasions, Google has stated that they take website load speed into consideration when it comes to rankings. They are trying to deliver great user experience (UX), which involves decreasing website’s load time. Although it is not as critical as content and page relevance, it is still a factor. Site speed is a new signal that Google uses to determine rankings. Presently, less than 1% of Google search queries are affected by it, reported Kissmetrics. While it may not hurt your ranking too much, Google does reward websites that have faster loading times.
User experience (UX)
Website speed plays a big role in UX. Simply put: websites that load quickly will make users happy. If users are dissatisfied, they will leave your site. Overtime, this pattern will majorly affect your sales. According to Kissmetrics, “ Up to 79% of customers who are dissatisfied with a website’s performance say they’re less likely to buy from the same site again.” Hence, if businesses do not ensure fast load times for their websites, they risk alienating many of their customers.
This also applies to mobile websites’ loading times. When users are on the go, they turn to their phones to search for information, or make purchases. In a survey conducted by Kissmetrics, they reported that 30% of individuals (the majority of their participants) would only wait 6-10 seconds for a page to load before they abandoned it. To put this into perspective, “if an e-commerce site is making $100,000 per day, a 1 second page delay could potentially cost you $2.5 million in lost sales every year”.
Improving UX and decreasing load time for desktop and mobile websites go hand in hand. Since we know users are impatient, businesses should prioritize this. By improving their websites speed, companies will likely see an increase in their sales too.
The Bottom Line
When it comes to website speed, a few seconds makes all the difference. Certain website additions such as large images and too many ads could lead to poor loading times.
Although advertisements are important and images make a website more appealing, your company’s website’s speed will impact your sales much more than these other elements.
When your website is too slow, your SEO is impacted, and your conversion rates and UX are suffering. Increasing its speed is a small fix, but it makes all the difference.