A one second delay in page load can cause a decrease of 7% in conversion rates and a 16% decrease in customer satisfaction.
This interesting piece of information was shared at the recently held half-day seminar on the importance of continuously improving and enhancing customer experience to create sustainable advantage.
This particular Marketing Insights, organised by Marketing Magazine and sponsored by Oracle Corporation, was titled "Perfecting the Customer Experience" and saw nearly 100 marketing professionals gather at klapsons, The Boutique Hotel to know more about the topic.
Speakers included Michel van Woudenberg, vice president CRM Asia Pacific division, Oracle Corporation and Ben Llewellyn, regional director, Asia Pacific, Ipsos Loyalty.
The seminar touched on how customer loyalty plays a big part in retaining and attracting new customers. This understanding is especially important in the digital age where the customer expects everything to be done instantly.
Essentially, customer experience is the only real source of competitive differentiation for any brand, shared van Woudenberg. And perfecting the customer experience will eventually lead to converting them into brand advocates.