Understanding the value of site speed

Summary: You're losing a lot of money for your webshop if you don't prioritize pagespeed. A 1 millisecond improvement in site speed can boost mobile sales by 7 to 10 percent. This means that ROI can be very high and that milliseconds can literally make you millions, here are 7 reasons why.

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Understanding the value of site speed

There is a lot of evidence that shows how crucial pagespeed is to a successful webshop. It's not called "Core Web Vitals" for nothing; Google has designated it as an absolutely essential part of your website. Which is why there's a SEO gain to be had with passing the Core Web Vitals. But the gain on your users experience, and thus their intention to buy (again) from your webshop is far greater. Let's talk numbers:

1. The numbers game: conversion gains of passing Core Web Vitals on eCommerce

That passing the Core Web Vitals comes with positive gains should come as no surprise, but the amount of gains you make with it can be incredibly high. We've collected reliable data by category to give you an indication of what Core Web Vitals and page speed performance can do for your eCommerce. As a warm-up:

A 0.1-second increase in loading time results in

  • + 8.4% conversions and + 9.2% on the average shopping basket in the retail market;
  • +10.1% conversions and +1.9% on the average basket in the travel market;
  • +8.6% of page views per session in the luxury sector;
  • -8.3% bounce rate on forms in general in the retail market.

Source: Milliseconds make Millions

And believe us when we say that there are always 0.1 seconds to be gained in terms of page speed and performance. And probably a lot more! Want to know what faster websites can do for you?

Calculate your ROI

Everyone is in the pagespeed game for a different reason. Use our Return On Investment calculator to convince the right stakeholders.

2. First impressions matter, let it be great!

First impressions are very important. A slow website not only annoys potential customers, but it can also make them not want to come back. Think about this: 88% of people who shop online are less likely to go back to a site after a bad experience. There is a lot at stake. Improving your site's speed will not only make the experience better for users, but it will also make it more likely that first-time visitors will become loyal customers.

88% of online consumers are less likely to return to a site after a bad experience.

Invision

3. Maximizing your advertising budget

Did you know that good Core Web Vitals can amplify your PPC results? It's a domino effect. Improving the user experience on your landing page can boost your Quality Score in Google Ads. A better score can enhance your ad's positioning, potentially slashing your CPC by up to 25%. Moreover, faster-loading pages can further optimize automated bidding strategies, giving you more value for every advertising dollar spent.

4. Make your websites' users feel your brand is trustworthy

Building a base of loyal customers is very important in the world of eCommerce. How are you going to do this? Getting your website not only looking good but also loading quickly. Embracing and improving Core Web Vitals should be viewed as a long-term investment. We already talked about how visitors are more likely to come back if they can browse quickly and easily. This builds loyalty.
But it's important to your brands image as well. People often think that a website that loads quickly is more professional and trustworthy. People might think that sites that take a long time to load are not safe, which could cause trust issues.

5. Outpacing the competition and securing that SEO advantage

In the crowded digital marketplace, standing out is essential. While a compelling meta title and description are crucial, speed is the secret sauce. A fast-loading website not only retains visitors but ensures they engage with your content, leading to better SEO rankings and higher conversions.

Google uses E-E-A-T, which stands for Expertise, Experience, Authoritativeness, and Trustworthiness, to rank websites. Now, how does site speed fit in? Simply put, if your site is slow, visitors might leave and think your website isn't trustworthy or professional. A fast website gives users a better experience and shows Google you know what you're doing. By making your site faster, you're not just getting better speeds; you're also boosting your site's reputation in Google's eyes. So, for any eCommerce business wanting to rank higher on Google, improving site speed is a big step in the right direction.

Core Web Vitals competitors

6. Broadening your eCommerce horizons

Growth is the ultimate goal. By focusing on your Core Web Vitals, you're not just catering to your existing audience but expanding it. If you're aiming for a global audience, site speed becomes even more critical. Loading times can vary based on geographic locations.

As an example, Carpe enhanced their Largest Contentful Paint by 52% and Cumulative Layout Shift by 41%. The result? A 10% surge in traffic, a 5% increase in the online store conversion rate, and a remarkable 15% growth in revenue.

7. Championing a sustainable digital future

The internet's carbon footprint is alarming. Did you know the internet consumes a lot of electricity? 416.2TWh per year to be precise. To give you some perspective, that's more than the entire United Kingdom. From data centres to transmission networks to th billions of connected devices that we hould in our hands, it is all consuming electricity, and in turn producing carbon emissions equal to or greater than the global aviation industry. Yikes!

Improving site speed and performance isn't just about boosting sales; it's a step towards a more sustainable internet, reducing the overall carbon emissions of the digital world. You can use website carbon to estimate the carbon footprint of your web page and it can be the starting point of a more sustainable digital future!

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