Edward Cutrell and Zhiwei Guan from Microsoft Research have conducted an eyetracking study of search engine use (warning: PDF) that found that people spend 24% of their gaze time looking at the URLs in the search results.
We found that searchers are particularly interested in the URL when they are assessing the credibility of a destination. If the URL looks like garbage, people are less likely to click on that search hit. On the other hand, if the URL looks like the page will address the user’s question, they are more likely to click.
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