How can I implement content compression and caching strategies in a Node.js application to optimize web page loading times and reduce server load?

In Node.js, you can implement content compression using middleware like compression to compress your HTTP responses, significantly reducing payload size and improving load times. For caching, utilize HTTP cache headers to control client-side caching and reduce server requests. Additionally, consider server-side caching solutions like Redis to store and serve frequently accessed data quickly. This combined approach of compression and caching will reduce bandwidth usage, decrease server load, and enhance the overall user experience of your application.