I don’t know about you, but I’m not exactly Stephen Hawking when it comes to advanced calculus and the equations describing Black Holes.
But there are important numbers I do understand, as you should too. These are the numbers connected to your business that really matter to your customers, and will have an impact on your bottom line – the performance and responsiveness of your website.
Statistics released by IMRG and Capgemini this week, show that smartphones and tablets now account for more than half of all online sales in the UK. So, if your site isn’t optimised for mobile devices, you may be missing out on hundreds of thousands in sales a year.
And in a world where a new website is only ever a click away – it could also be fatal for your sale opportunity if your site takes too long to load or refresh a page. Customers will just move on, and they may not come back.
We did some research into this – we call it the Science of Responsiveness.
Say your site takes eight seconds to load. Eight seconds is about how long it takes to say this sentence. It’s nothing in real life but it’s really a loooong time in cyberspace. The time you want – that really, you need – is close to half that, four seconds.
Assume your average sale price is £100 and of a thousand visitors to the site a day, and you’re receiving a conversion rate of 2 per cent
Just by doubling that load time from four to eight seconds means a 75 per cent loss of visitors.
Yes. 75 per cent.
The sum that we can run on that data tells us this: that’s 320 fewer potential buyers – six lost buyers a day. Which equates to:
- £600 a day less towards your company’s bottom line.
- £18,000 per month missing from your sales figures.
- £216,000 a year wiped.
You definitely don’t need a PhD in astrophysics or calculus, to work out these numbers. But if you need more ammunition to take to your boss, you can gain a better understanding on the data behind the Science of Responsiveness here.