A recent survey conducted by Storyblok has revealed that a considerable number of businesses globally are experiencing significant dissatisfaction with their websites, despite extensive financial investments to enhance their online presence. The findings indicate that nearly half of the businesses surveyed have reported issues that detract from their website's performance, which is particularly concerning given that 96% claimed their sites meet expectations.
The survey, which included responses from 300 senior business leaders across the United States and Europe, highlighted that companies spend an average of $550,688 on marketing technology over a five-year period, with 18% of those surveyed allocating over $1 million. Yet, despite these high expenditures, 36% of e-commerce businesses admitted that their websites have caused embarrassment in front of customers or stakeholders.
Dominik Angerer, CEO and co-founder of Storyblok, remarked on the unexpected results of the survey, stating, “When we conducted this research two years ago, we were surprised to find so many businesses were embarrassed by their website and believed it was losing them vast sums of money. What made it more puzzling is that the majority of businesses said they received good ROI on their marketing technology." Angerer noted that the current situation appears to have worsened, with businesses losing even more money due to website inefficiencies compared to previous years; losses have risen from $72,000 in 2023 to approximately $94,500 annually.
European businesses seem to bear the brunt of this issue, with an estimated average revenue loss of $101,000 per year, in comparison to $80,500 for their US counterparts. The increase in financial losses illustrates the tangible consequences of neglecting website optimisation, even while companies signal satisfaction with their marketing technology investments.
Amidst the complexities of rising cybersecurity threats and the growing demand for website accessibility, maintaining high-performing websites is becoming even more challenging. Nevertheless, Storyblok suggests that the development of a new generation of composable architecture and solutions could offer a more economical and effective approach compared to existing legacy technology stacks, which may no longer meet the evolving needs of businesses.
Source: Noah Wire Services