If you have successfully brought your business online and established a responsive site or mobile app, you may not be aware of the key role played by Internet speed.
The truth is that a slower-than-average website can damage your company’s bottom line — and that “average” speed benchmark is a moving target. Here’s what you need to know about staying competitive with faster Internet for business:
Broadband Internet Just Got Faster
In early 2015, the FCC established a new standard broadband speed of 25 megabits per second (Mbps) for downloads and 3 Mbps for uploads. Its news bulletin notes that this speed is necessary for consumers to take advantage of today’s high-quality video, audio, graphics and data.
Your Business Communication Relies on Internet Speed
Ninety-four percent of workers use the Internet in some aspect of their jobs, according to the Pew Research Center. Your employees’ time is money out of your pocket, and if they accumulate extra minutes every day waiting for your own internal website to load, that lag time adds up to an unnecessary expense.
Furthermore, online collaboration tools are proliferating, and your work teams need multimedia access to shared project information. Risk management through secure cloud storage is also a necessity for many organizations, and the last thing you want is a bottleneck in your online security transactions.
Customer Expectations Are Shaped by Your Website Speed
A few years ago, your customers may have been perfectly comfortable waiting a few seconds for the graphics on your website to load. Now, they’re likely to simply click away to another location.
“Every additional 100 milliseconds of load time can decrease sales by one percent,” according to Mashable.
Moreover, the credibility of your brand is at stake. Whatever product or service you sell is judged according to how seamlessly your online architecture can be navigated. Even your ranking in search results may be affected by your page load times.
Broadband Internet Is Scalable with Your Business
A high-speed broadband internet connection lets your business expand without growing pains. Having a higher bandwidth connection in place means extra users or more computers won’t make a noticeable difference in your site’s responsiveness. As technology becomes more sophisticated, you’ll be positioned to make use of new options.
“Companies adopting broadband-enabled technologies experienced between 27 and 31 percent revenue increases,” according to Small Business Trends.
Internet speed is a basic part of business infrastructure. If you consider the speed and resilience of your Internet connection in the same category as the strength of your physical building, you’ll make the right decisions for your company’s ongoing health.