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Impact of the website speed on the online commerce business

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Impact of the website speed on the online commerce business

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  1. Impact of the website speed on the online commerce business This article will discuss why website speed or page speed is critical for the online commerce business, like e-commerce, insurance, travel, hotel, etc.? For every firm, a website is the front face of their digital business. If you ask someone, "Hey, do you know about Jamsfy?". The first thing they will do is search it on Google (A widely used Search Engine). That's the impact of the internet in this decade and will continue for the upcoming days via different modes like VoIP, etc. Now, as a business, one needs to optimize their website so that it can ● Appear quickly on search ranking(s) ● Load Quickly on the user's devices We all have heard the saying, "slow one & steady wins the race" -- This is incorrect in the digital business that deals with consumers directly. These days "Speed Matters' Before diving into the website speed and its impact, let's try to understand the website speed? What is Website Speed? A website speed is a metric that defines how fast a website completely loads all of its contents once the user has clicked on the link? In technical terms, Website page speed is the total time the browser takes to download all the website's contents and visually populate it for the visitors But, there is a catch, the speed depends and varies from page to page because of the following reasons: ● Poor selection of the technologies for building the website ● The network speed of the visitor ● The user's Device computation power(like RAM, CPU, OS, etc.) ● Server Location where the webpage is hosted (Yes, it does matter a lot) ● Browser Itself can be problematic. ● Bad Coding Impact of the Website Speed on the online business?

  2. Website speed, as we know, is an essential part of any business; below are some facts & figures that will help you understand its importance on ● Bounce Rate ● Conversion Rate ● Abandonment Rate ● Customer Experience Bounce Rate It illustrates the percentage of visitors who enter the site and then vamoose (leave) rather than continue to view other pages within the same site. As per Google think tank, and it defines the bounce rate for the mobile visitors because more than 65% of the visit comes from the Mobile only. Conversion Rate Conversion rate is the measurement of the percentage of the total visitors that converts. Well, but converts to what? Let's try to understand this with an example. You are running a digital e-commerce store and selling Mangoes online. Your goal for the website is to drive revenue via selling Mangoes. To purchase Mangoes from your website user will click on "Buy Now," and the moment he does so, one conversion is completed. Note: The user doesn't need to buy to be qualified for being counted as a conversion. Below are the pointers that shows the impact of page speed on the conversion rate. ● A 100-millisecond delay in page response time decreases conversion rates by 7 percent (Akamai – 2017) ● An 8.4% increase in conversion rate for retail sites came from a 0.1-second improvement of mobile site speed (Google – 2020) ● 9.1% more shoppers added items to their basket when mobile site speed increased by just 0.1 seconds (Google – 2020) Abandonment Rate As per Google, 53% of mobile users abandon sites that take over 3 seconds to load. Your web pages should load as fast as possible

  3. Customer Experience ● 16% reduction in customer satisfaction for every second beyond 3 seconds that customers have to wait ● 79% of customers who are dissatisfied with website performance are less likely to make a repeat purchase ● 44% of online shoppers tell friends and family about a bad online shopping experience ● 95% of mobile users to a fast website said they would come back again, compared to only 62% for a slow site 2022-23 will be the year of page speed for every commerce business marketing online. Companies that can deliver blazing-fast user experiences will see the first-mover advantage The Conclusion Speed matters in this new digital era where the visitors do not want to wait for more than a second. Understanding the visitor personas is very important, and the business should look into it as soon as possible to have a solid digital footprint because it's not an overnight journey. Optimizing your website per the different user personas will take months, so we have developed Auditzy™ - Deciphering the pre-user journey. What is the pre-user journey? Whatever the problems/Insights discussed above are only possible once the user lands on the website. It is called the post-user journey, and tools Like Google Analytics are the perfect example. But, what if I tell you that we can minimize/optimize all these problems for any website before even having a single user? It is what we call the pre-user journey of web pages. If you are a business leader doing business marketing online, check Auditzy™ - Deciphering the pre-user journey. If you are a developer developing the web applications, let us know in the comments, and we will provide a 1 month's free trial for you to explore the product.

  4. I hope you enjoyed the article and added some insights into your knowledge base. For my next article, subscribe (if not already) and #stayAudited.

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