September 19, 2019
eCommerce — Time is Money — Futurist Keynote Speaker

eCommerce — Time is Money — Futurist Keynote Speaker


Imagine that you were watching TV last night and you saw your favourite actress and you typed her name into your iPad to find out how old she is. And you press on her website, and nothing happened. And you waited. How long will you wait, before you press the back button on the iPad? Think about it. 1, 2.. (starts whistling)..how many seconds would you wait before you press the back button on the browser because the webpage is too slow. Put your hands up if you press the back button in less than 10 seconds. Okay, I want to see. Put your hands up if you press the back button in less that 5 seconds. My friends, you have shown me this: in Bulgaria today 95 percent of all your customers on the web will be lost in 5 seconds. 5 seconds is like a million years today. Why does this matter? Because in 3 seconds you became irritated. In 4 seconds you’re beginning to get annoyed. In 5 seconds you’re saying ‘I’m out’. 5 seconds is enough to create an emotion in a customer. Look. Next question: In your store how long does it take to process a transaction? How long does it take to buy something online. How long does it take to find the customer representative. 5 seconds is like a million years as you have shown me. So, big trend is convenience stores. Stores that are open all night. Every hour of every day. Small stores. Because Small is fast. Because Small is close to my home. Small is quick to serve Small is instant choice. Small takes my life and gives it back to me. Here is another example of this which is in the online world. If you can find a way to speed up the customer journey through your website by 10 seconds, you gain extra customers. Just a single field can be enough.

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