Why is site speed important in digital marketing?

Site speed and performance are becoming more and more important. There are many reasons for that, but the most important are:

1. Making visitors wait even 4-10 seconds for a page to load will likely lead to a lost conversion.
2. All search engines consider site speed as a ranking signal.
3. No one wants to wait.
4. Our attention span is getting shorter.
5. We want everything now.