Your website speed may be more important than you think, and Google agrees. According to one of Google’s studies, it was found that sites loading within five seconds had 70% longer sessions, 35% lower bounce rates, and 25% higher ad viewability. In 2020, it’s more important than ever. There are 312 million internet users in the United States alone and according to the NCUA, 117.3 million are credit union members. Furthermore, lower page speeds are a great metric to your overall digital marketing strategy because it has a direct impact on SEO rankings and paid advertising.
So, if your credit union is serious about its conversions, you might want to get serious about your website speed too. Especially considering only 15% of sites operate at an acceptable page speed range. With that out of the way, let’s talk about how you can test your page speeds and what you can do to make it better.
Importance of a fast website
User experience & conversions
When I mention conversions, I don’t mean your credit union’s conversion from one core processing platform to another. In this case, a conversion is when a user completes a desired task on your website. For you, that might mean somebody applying for membership, looking up your rates, signing up for your newsletter, or some other similar task. The more effective your website, the better your conversion rate (i.e more visitors sticking around to complete something).
As mentioned above, your website’s page speed goes together with the user experience you are giving your visitors. A great user experience often improves conversion rates at the same time. Bounce rate is a term you may be familiar with if you pay any attention to the analytical data Google provides to your website (if you are tracking that information, if not – you should). Bounce rate is the rate at which people come to your website and then instantly leave. That means they never get a chance to enter your funnel. As a result, you’ll likely see drastically lowered conversion rates. According to the statistics from Google above, page speed plays a big role when it comes to keeping those bounce rates down.
Impact on SEO
Your website page speed also plays a role in whether your page ranks in Google search results. Largely because Google wants to give its users a great experience. For this reason, Google has developed a tool called Page-Speed Insights that tests your mobile and desktop page speeds, giving you a score from 0-100.