In my last post I talked about the major areas of ROI for Application Performance Management (APM). The first area was improved website conversion rate and customer loyalty, for external customers.
This is so obvious that it’s hardly worth writing about, since I’d only be duplicating the content elsewhere on the interwebs.
However such is the respect I have for you and your laziness, dear reader, that I did a brief web trawl and collated some factoids to save you the trouble and to support my thesis. Here are some example statistics about response time and web page abandonment that I didn’t even have to make up:
- Four seconds is the maximum length of time an average online shopper will wait for a Web page to load before potentially abandoning a retail site. And this is from back in 2006, which is a lifetime in internet-years. Since then user expectations have increased and attention spans have shortened. Squirrel! (Source: Akamai)
- 47% of consumers expect a web page to load in 2 seconds or less (Source: Kiss Metrics)
- 57% of online consumers will abandon a site after waiting for 3 seconds for a page to load
- 80% of these people will not return. (Source: Strange Loop Networks)
According to Get Elastic, When faced with a dissatisfying shopping experience:
- 79% are less likely to buy again
- 75% would be less likely to visit the website again
- 64% would purchase from another online store
- 46% of online shoppers are more likely to develop a negative perception of the company
- 44% would actively tell their friends and family about the bad experience
Site performance also impacts cross-channel shopping:
- 70% of consumers research products online they buy offline
- 85% of consumers are buying across channels
- After a poor site experience, 27% are less likely to buy from that retailer off-line (Source: Get Elastic)
- Patience = (8 seconds) x (Tenacity) x (Importance) x (natural patience). And that was 2001.
- Sample ROI period from ecommerce website optimisation project: 23.17 days (Source: Slideshare)
- $3,000,000,000 - The annual cost of cart abandonment due to slow web pages. Almost 1 in 5 online shoppers cite slow page load time as the reason for abandoning their cart. (Source: Strange Loop Networks).
Three billion dollars a year lost due to slow ecommerce load times… enough said.
Does your organisation have a revenue-critical website? Have you quantified the impact of speed on revenue? I’d be very interested to hear your comments.