Formatting your content means choosing a proper format for heading, and proper font for content, and content size. Back in the days formats such as H1 and H2 for heading was valuable but it also lost it's value, but still one of the steps that need to be taken.
Giving a proper heading for your web page is very important because heading is also part of a key words that google uses to find information, so basically having same or similar keywords in heading, meta tags description, and meta keyword can be very powerful combination for being found in google for specific keyword or phrase, and also have some keywords that you aiming for in your content, maybe couple keywords or phrases in intro paragraph and couple in body and maybe one in conclusion.
I recommend giving a web page heading format a H1 or Heading 1 (it's same), then for content format choose Paragraph, and for font choose Arial or any other font that have been around for a while. Heading can be any size you like, and for content I recommend choosing size 14.
Google is like a bunch of crawling robots that scans the websites for combination of the SEO techniques such as age of the domain name, keywords, back links, link popularity, format, description, content, and many more, then which web site meets the requirements will be displayed first for a specific keyword or phrase that user searches for.
Formatting your content is about 2% important for ranking high in google, this might not be much but it's worth the time and effort invested, and good for the long run.
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