How Much Revenue Is Your Website Missing Out On?

How Much Revenue Is Your Website Missing Out On?

Google has continued to push the importance of a good mobile experience for quite some time now. At the recent Mobile World Congress they unveiled the release of new mobile benchmarking tools to assist in these efforts: a new Mobile Scorecard and conversion Impact Calculator.

The purpose of these new tools is to provide marketers with clear visuals that assist them in getting buy-in from stakeholders for allocating budgets to improving mobile site speeds.

The new Mobile Scorecard users Chrome User Experience Report data to compare the mobile speeds of multiple websites. Google have reported that the Mobile Scorecard can report on thousands of sites from 12 different countries. Here’s an example of how it operates:

Google have recommended, as a guideline, that a website should load and become operational within 5 seconds when a user is on a mobile device with a 3G connection, and within just 3 seconds for those using a 4G connection.

To present this data and its importance to stakeholders, the new Impact Calculator is designed to provide how much conversion revenue a website is potentially missing out on due to slow site speed. Here is an example of it in action:

The Impact Calculator draws on data from The State of Online Retail Performance report from April 2017, which showed each second of delay in a page loading on a retail website can damage conversions by up to 20%.

This new tool gives a clear representation of just how much page speed has an effect on conversion rates and revenue. By putting in a websites average monthly visitors, average order value and conversion rate you can get an estimate of revenue based on site speed.

You can try each of these tools for yourself here.

Is Your Website Losing Out On Revenue?

You could be losing out on significant sales and revenue due to your site speed. But don’t worry, at Soar Online we have the tools and knowledge to set things right and start making your website get you the sales you need.