Speed is essential for a good conversion rate. Studies have shown that web users will tolerate about a two second wait time. How fast does it take your site / online form to load? Other studies have shown that slower sites result in a poorer conversion rate. For example, when compared with a site that loads in 1 second, a site that loads in 3 seconds will see a 22% lower conversion rate. Furthermore, a site that takes five seconds to load will see a 38% lower conversion rate.
Does this match your own behavior? When you encounter a slow site (especially on mobile) aren’t you more inclined to click back or go elsewhere? Even Google has started ranking faster sites higher than slower sites because it gives users a better experience.
There are some excellent free tools that technical staff can use to help boost the speed of your website. Google PageSpeed Insights gives you all the detail you need to make changes to reduce the load time of your site. WebPageTest is another.
Make sure your website and online forms are fast to avoid an impact on your conversion rates.