Here at Push Technology, we talk about performance a lot. When we talk about performance, we are specifically referring to:
- App/website load times
- App/website responsiveness
- Network performance
- Performance depending on load (user) fluctuations
We’ve all experienced it. It’s the end of the work day and you want to check train times; you bring up your travel app of choice and you get that spinning wheel. Or you’re watching a football match and want to place a bet, only to find so does everybody else and your app crashes. Or maybe you want to buy tickets for a concert online (it’s Adele and the tickets go live at 9am and you are waiting to buy) and the page won’t load. You keep refreshing to get through, but in the end you don’t get tickets.
All of these are examples of poor performing apps and websites. As consumers, we hate it and have no patience for it. But how significant is it really? Do businesses actually suffer significantly from poor app or website performance?
Here are some of the latest statistics on performance and how it can affect businesses right now:
- A 2-second delay in web load time during a transaction, results in abandonment rates of up to 87%.
- The total cost of abandoned shopping carts for online retailers has been estimated at more than $18 billion per year.
- Amazon discovered that for every one-second delay, their conversion dropped by 7%. That’s a $2.5 million loss per year if you sell $100,000 per day.
So what happens if you can improve performance? Here’s two examples: Walmart gains 1% increase in revenue every 100ms of improvement in their website and last year, GQ cut load time on their site by 80% and saw a corresponding 80% increase in traffic. The median time spent on the site also increased by 32%.
These are just two examples, but I think it is fair to say performance is everything. The way that consumers can interact with businesses has increased (gone are just face-to-face interactions, but now interactions via web and mobile devices etc.), and with this, so has consumer expectations of technology. Web and mobile devices have opened up a portal for consumers to have anything they want, whenever they want it – and so we do. A high performing website or mobile app has become like gold dust in a world where we won’t wait for anything.
The Diffusion® Intelligent Event-Data Platform makes it easy to consume, enrich and deliver event-data in real-time across all network conditions. Push Technology pioneered and is the sole provider of real-time delta data streaming™ technology that powers mission-critical business applications worldwide. Leading brands use Push Technology to bring innovative products to market faster by reducing the software development efforts using the low-code features. The Diffusion® Intelligent Event-Data Platform is available on-premise, in-the-cloud, or in a hybrid configuration. Learn how Push Technology can reduce infrastructure costs, and increase speed, efficiency, and reliability, of your web, mobile, and IoT application.