We’ve been told by the poets that the best things in life are free: A sunrise in spring, the scent of a flower, the coo of a baby, having a buddy who can get his hands on football tickets. It’s all so beautiful and uplifting (especially the football tickets). But at the same time, the economists remind us that there’s no such thing as a free lunch. And of course, we know from experience that this is often the case.
Businesses of all sizes — from small startups to large enterprises — are spending an enormous amount of money and time to deliver outstanding customer experience (CX). For example, they’re deploying contact centers, implementing customer-friendly return and warranty policies, training their workforce to be customer-centric, and the list goes on. And now, according to research by Walker Insights, CX is poised to overtake price and product as the most influential brand differentiator.
In the classic flick The Magnificent Seven, a pack of essentially decent but “don’t you dare park your horse in my spot or else you’ll get your spurs blasted” gunslingers come together to rid a village of some nasty bandits. There’s action. There’s drama. There’s tragedy. There’s humor. There’s romance. There’s Steve freakin’ McQueen. What’s not to love?
It’s a sad story that has become so common, that it just kind of blends into the background — like that awful elevator jazz that some coffee shops play (Thelonious Monk would NOT approve), or economy class in-flight meals (there’s less sodium on a salt lick, and you don’t get rammed in the ankle by a cabin trolley). Alas, we’re talking about the cart abandonment epidemic. And epidemic is indeed the right word, because this problem is not local or limited.
If You Build It, They Won’t Come: 5 Big, Scary and Costly e-Commerce Site Mistakes In the 1989 flick Field of Dreams, Kevin Costner turns his Iowa cornfield into a baseball field because a voice tells him: if you build it, he will come. The “he” in question is his late father, and the movie has a magical, uplifting ending that makes us want to dream again (and possibly, play baseball or eat some corn).
Hey brother, can you spare $5 million? That’s about what Amazon estimates it lost in sales back in 2013, when its website went down for around 40 minutes. For the math junkies out there, that’s $125,000 a minute, or $2,083.33 a second.
Today’s business environment is relentlessly fast-paced. Today’s startups blast into tomorrow’s enterprises. And just as rapidly, today’s unicorns take a one-way journey into “hey, whatever happened to…” country. However, there’s another critical piece of the velocity puzzle that many businesses are missing, and it’s costing them customers and profits: the speed of their website.
