In the modern world, we like everything to be done and done quickly as we go about our busy lives, staying ahead of the rat race. And we expect our technology to follow. Slow websites or apps often leads to frustration and eventual abandonment, but how big of an impact does speed have on conversion rates and revenue?
Is It Really a Problem?
A recent study showed that a two-second delay in page load time increases bounce rates by more than 100%, with 40% of your page visitors actively telling others about their bad experiences. Shocking but what does it prove? Firstly it proves that speed is a bigger issue than we initially thought and that bad experiences are infectious. Once one user has a bad online experience they will spread negative reviews about your site to others.
Mobile specifically shows the worst page speeds with the average mobile landing page being fully optimised in 15 seconds and that's just not quick enough, considering 53% of mobile users abandon a site within 3 seconds of loading time. Unfortunately, the news just goes from bad to worse for slow sites as search browsers such as Google favour quicker websites, pushing slower ones down the search rankings and reducing your SEO.
Here's a quick example of what slow pages look like:
Save your Speed
Many companies have already begun documenting the impact of speed on their conversion rates and overall performance. In fact, Walmart released stats outlining the significance of speed on its overall performance rate.
On average you want your site to load between half a second and two seconds to ensure you are reducing the number of bounce rates happening. After revision, Walmart found that its sales increased by 1% for every 100 milliseconds of improvement.
There are free tools you can use to calculate how long your site takes to load such as Dotcom-tools, however, identifying the actual issues causing slow loading rates and other problems requires specialist testing services. Don't worry it's not as scary as it sounds, testing companies aim to improve your site for you, increasing your conversion rates and revenue.