If this site took too long to load, would you still be here? Our guess is that you wouldn’t and you’d be in the majority.
Internet, like food, has become one of the basic necessities of life, and, just like a cold dinner, nobody wants slow internet.
If you still believe that “any PR is good PR”, then we’re sorry, a slow website probably busts your myth. Research carried out by the Hosting Tribunal shows that 44% of customers will tell their friends of a bad experience online. So, if this isn’t negative publicity for the website, then we don’t know what is.
Slow internet experience is bad for business, literally. Every year, $18 billion worth of online retail shopping carts are abandoned due to slow web pages alone!
On the other hand, if a site takes less time to load, that’s simply excellent for business. AliExpress, one of the biggest online shopping platforms, reduced load time for their pages by 30% and boom! Orders increased by 10.5%. They also recorded a subsequent 27% increase in conversions for new customers recorded.
Time is money. And in internet time, one second is worth a billion dollars. A test carried out by Amazon showed that they would lose $1.6 billion per year if the speed of the site slowed down by, yes you guessed it, a single second. So, it is just to say that 1 second is actually worth more than a billion dollars, after all.
More research also shows that when The Trainline reduced latency (delay in transference of data over a network) by 0.3 seconds across their sales funnel, it resulted in an extra £8m annual increase in revenue.
In fact, for every second of speed improvement, Walmart experience up to a 2% increase in conversions. And for every 0.1 second of improvement, they grow incremental revenue by up to 1%.
We bet you never knew 1 second could be this valuable.
So, we guess it’s safe to say if internet is life, then slow website speed is a Russian roulette. And nobody wishes for that.
About me Location Incapable Internet Enthusiast | Re-Designer of the World Around | Bodybuilder trapped in a Computer Geek’s Body.