Faster websites convert more users to customers. Loading times over 4 seconds cause 75% of users to not return. Perceived performance affects user happiness - sites loading over 10 seconds are considered "f-ing slow". Tools like Firebug and Webpagetest help identify front-end issues like unnecessary assets. Munin and Cloudkick help monitor server load and identify back-end bottlenecks. Common fixes include adding caching, using a content delivery network, upgrading hardware, or refactoring code. The goal is chasing performance to improve the user experience.