When you think of revenue-drivers, you probably think of things like customer retention, new customer acquisition, and even average order value. But there are many factors that impact your revenue, and site speed is one that is often overlooked. Site speed directly affects the user experience and an optimal UX is the key to driving more conversions and revenue.
If your organization isn’t prioritizing site performance, you’re losing out on opportunities to increase revenue. Here are a few ways improving site speed can help your business drive revenue.
First and foremost, site performance directly correlates with the user experience. If users come to a slow-loading site, they will likely bounce or, at the very least, will have a poor experience. In today’s increasingly digital world, consumers won’t wait for your slow website to catch up and will choose the brand that helps them find what they need faster. To see how site speed truly impacts the user, our retail client ran a test that slowed down their page-load time by one second. This one-second delay led to an 11% decrease in conversions, which meant about a £10,000 decrease in revenue per day. With the smallest delays negatively affecting the user experience, it is crucial to optimize your site performance and deliver a better UX.
Page-load time is one of the signals used in Google’s algorithms to rank pages, according to Moz. That means if your site speed is not optimized, you’re hurting your organic search ranking. Slow page speed can even affect your indexation as search engines will be crawling fewer pages at a time. With higher bounce rates and lower average time on page, slow page speed can hurt your SEO in more ways than one. Nearly 75% of users don’t scroll past the first page of search results, which means you’ll lose out on significant organic traffic if your SEO ranking slips. Optimizing your site speed could be the key to improving your search ranking and boosting revenue from organic traffic.
Customer Acquisition and Retention
Your site speed has a significant impact on whether or not a user will convert. According to Neil Patel, 40% of users will abandon a site that takes more than three seconds to load. If your site falls into this category, you are leaving money on the table. A fast page-load time invites people to stay on your site and will likely keep them coming back. By continually optimizing your site performance, you will convert new customers and continue to delight them with a superior UX.
To learn more about SiteSpect, visit our website.