If you have ever abandoned an incredibly slow digital experience in favour of a much faster, more user friendly one, then you know what millions of users go through every day. Whether they are trying to shop online, compare prices or just get some additional information about a business, a slow, unresponsive site or app is a problem.
Today’s users want speed and ease of access, and if your digital product doesn’t have it, they will quickly move to your competitor’s who have invested in their digital channels and have much faster and easier systems, costing you a sale. The negative impact of a slow digital channel has on a business often goes much deeper than just an initial sale. Many customers will relate your site with the sluggishness it originally offered and they will continue shopping elsewhere. A positive, quick and intuitive journey is the key to happy repeat customers.
When enough potential customers become your competitor’s customers, your conversion rates, average order values, and page views will all suffer.
Having said that, there are 3 speed opportunities that today’s business need to maintain if they are going to remain sustainable. Let’s take a look at each one and see how they can positively affect your business:
3 Speed Opportunities That Can Increase Conversion Rates, Average Order Values, And Page Views
- The Faster The Site, The More Customers Will Reach Checkout – when you increase your site speed, you are also increasing your progression rates which means that more customers will make it to the checkout page instead of giving up and shopping somewhere else.
- People To Stay Longer And Purchase More If Your Site Is Faster – a much faster site is easier to use and much more user friendly than a site that is sluggish. Studies show that just by decreasing your site load time by one tenth of a second, you will see a significant increase in conversion rates and travel.
- Faster Sites Have Lower Bounce Rates – it makes sense that the faster your site is, the lower your bounce rates will be. Unless your site offers nothing of interest to the customer, you will see an improvement in your bounce rates. One study showed a decreased bounce rate by 8.3% for a mobile speed improvement of just 0.1 second.
To learn more about the importance of the speed of your digital channel, contact MCD Systems today and speak with a digital technology consultant who can answer any questions you might have.
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