Performance Matters

Key stats that prove Internet Resilience can’t be ignored

How long are you willing to wait?

While many businesses are laser-focused on their bottom line, they often overlook a critical factor in their success: performance. Speed is everything. People won’t wait—they won’t tolerate buffering videos, slow apps, or websites that take too long to load. Here are a few statistics that show why performance matters.

Why page load speed matters

53% of mobile visitors leave a page that takes longer than three seconds to load.
40% of users abandon a site that takes over three seconds to load.
47% of consumers expect a web page to load in two seconds or less.
1 in 4 visitors will abandon a site if it takes more than four seconds to load.
As page load time goes from one second to 10 seconds, the probability of a mobile site visitor bouncing increases by 123%.
14% of shoppers will begin shopping at another site if made to wait, and 23% will stop shopping or walk away entirely.

Diagram showing statistics for page load speeds

The link between speed and revenue

Amazon found that every 100ms of latency cost them 1% in sales.
A one-second delay in page load time can lead to a 7% reduction in conversions.
Sites that load within five seconds on mobile devices earn up to twice as much mobile ad revenue than those that load in 19 seconds.
Walmart reported that improving page load time by one second increased conversions by 2%.
Google considers page speed a ranking factor. Faster websites rank higher, boosting visibility and organic traffic.

User frustration from reliability issues

A 2023 online reliability report found that:

94% of users reported that apps and websites were less reliable in 2023 compared to the previous year, leaving many feeling frustrated (71%), annoyed (65%) and even angry (26%).
One-third of respondents said online disruptions were more frustrating than being stuck in traffic or having bad weather ruin their plans.
Americans will tolerate fewer than 4 instances of unreliability/outage on an app or website before switching to a competitor.
61% of consumers say they experience unreliable apps/websites at least once a week, with Gen Z (25%) reporting experiencing glitches daily.
25% of Gen Z consumers will transition to a competitor in response to slow or unreliable digital services.
1 in 4 members of Gen Z (25%) admitted to having cried at least once when an app or website went down.

Diagram discussing the importance of website reliability

Cost of downtime

Even brief IT system downtime and Internet disruptions can have far-reaching consequences on revenue. Here are statistics from various studies quantifying the high cost of downtime: can have far-reaching consequences on revenue. Here are statistics from various studies quantifying the high cost of downtime:

86% of businesses say an hour of downtime costs $300,000 or more.
44% of firms report downtime costs exceeding $1 million per hour.
80% of data centers reported experiencing outages between 2019 and 2022, with 60% resulting in losses of at least $100,000.
Fortune 1000 companies can face annual costs of $1.25 billion to $2.5 billion due to unplanned application downtime.
For 10% of small and medium-sized businesses (SMBs), downtime costs exceed $50,000 per hour, and for the rest, it ranges from $10,000 to $40,000 per hour.
Forty percent of enterprise organizations indicate that a single hour of downtime can cost their firms from $1 million to over $5 million, exclusive of any legal fees, fines or penalties.

A 2023 commissioned study conducted by Forrester Consulting on the financial impact of Internet disruptions on eCommerce found that:

In the month before the study, 37% estimated their companies lost between $100,000-$499,000, and 39% lost $500,000-$999,999 due to internet disruptions.
Disruptions also damage companies internally by increasing employee churn (55%) and reducing workforce productivity (49%).
Without adequate visibility, companies are experiencing 76 disruptions per month on average.

Customer loyalty

79% of online shoppers who experience a dissatisfying visit are less likely to buy from the same site again.
52% of online shoppers state that quick page loading is important to their site loyalty.

Gen Z digital expectations

The IBM Institute for Business Value surveyed 15,600 Gen Zers from 16 countries, revealing key insights into their high standards for digital experiences:

87% of Gen Z have access to high-speed internet at home
62% will not use an app or website that is difficult to navigate
60% will not use an app or website that is too slow to load.

Achieve resilience with Internet Performance Monitoring (IPM)

Diagram illustrating different methods of internet stats monitoring

The stats speak for themselves: Internet disruptions can have devastating consequences for revenue, customer loyalty, and brand reputation. Internet Performance Monitoring (IPM) is the key to mitigating the impact of disruptions and staying ahead of issues before they impact your customers.

IPM is a new generation of solutions that provides deep visibility into every aspect of the Internet that impacts your business and revenue. It’s like APM, but not for your app stack - for your Internet Stack.

The 2023 Forrester Opportunity Snapshot: Increase revenue with IPM revealed that:

75% of respondents said IPM would drive a significant/large increase impact on their business.
71% said IPM improved customer experience
58% said IPM increased workforce productivity
50% said IPM improved brand perception

Source

If the above stats have convinced you to take your Internet Resilience strategy to the next level, don’t wait—ensure the resilience of your Internet Stack today.

Diagram Highlighting the benefits of IPM