Website speed on mobile revalidates the expression: “Time is money”. At Digital Affair, we couldn’t agree more.
Milliseconds Make Millions: the study
The proof relies on a study developed by Deloitte. The NYC company claims that improvements in mobile site speed unlock revenue and brand loyalty. As the saying goes, milliseconds make millions!
The results arrived during a four-week period, where the focus was the analysis of the mobile site data. Across Europe and the US, retail, travel, luxury, and lead generation brands entered the equation.
The main objective? Isolate speed as a performance metric, and from there, observe if there was a true correlation to conversion funnel progress, spend, page views, and bounce rates.
Alongside other website optimization priorities, mobile speed has to be respected. The global growth of smartphone usage is undeniable proof of the mentioned.
If brands don’t want to lose pace in relation to their competitors, they need to stay ahead and gain a competitive advantage.
In addition to the above, the consumer is no longer as tolerant to mediocre experiences, they are demanding and impatient. Without a doubt, there is a need for speed!
The competitive difference will widen between brands that provide a great mobile experience and those that don’t.
Deloitte, Milliseconds Make Millions
Through a natural improvement of 0.1 seconds mobile site speed, it was possible to observe the following:
- Improved funnel progression;
- Increased number of conversion rates, page views, and overall average order value;
- Conversions increased by 8.4% and average order value increased 9.2% in retail;
- Travel conversions increased 10.1% and average order value increased 1.9%;
- Increase in page views of luxury brands per session of 8.6%;
- An improved bounce rate of lead generation information pages by 8.3%.
There should be no doubts. Mobile site speed is key.
Choose to be guided by “mobile-first” thinking and strategy, and you will be competing among the best.
Read more: Milliseconds Make Millions
