Start with the final dimensions
Resizing an oversized source often saves more data than aggressive compression. If an image will appear 1200 pixels wide, exporting a 5000-pixel original wastes bandwidth. Set useful dimensions first, then adjust quality.
Lower quality in small steps
For photographic WebP or JPG images, begin around 80% quality. Compare fine textures, text, faces, and smooth gradients. Reduce the setting gradually until artifacts become noticeable, then move one step back. A busy photo often tolerates more compression than a clean illustration.
Judge the image in context
Inspect at the intended display size, not only while zoomed in. Record the original and compressed file sizes, but let visible quality decide the final setting. Keep the original separately so you can create a different export later.