Image optimization for SEO is usually done by the utilization of alt tags. It is helpful to use alt tags as crawler is unable to read the images, therefore alt tags helps crawlers to understand the image.
Image optimization is using the most compressed (smallest file size) yet visually acceptable image in the proper file format for the specific role of the image. 10 Must Know Image Optimization Tips
1. Name Your Images Descriptively and in Plain English
2. Optimize Your Alt Tags Intelligently
3. Strategize Your Image Dimensions and Product Angles
4. Reduce the File Sizes of Your Images
5. Know Which Image File Type to Use for the Right Situations
* For most eCommerce situations - JPEGs will be your best bet.
* Never use GIFs for large product images.
* PNGs can be a good alternative to both JPEGs and GIFS.
6. Know How To Handle Your Thumbnails
7. Use Image Site Maps
8. Beware of Your Decorative Images
9. Use Caution When Using Content Delivery Networks
10. Test Your Images!
* Test the Number of Product Images Per Page.
* Test What Angles Your Customers Prefer.
* Test How Many Product Listings You Should Have on Category Pages.