Bad tech costing businesses

GOOD online and mobile technologies are the key to business success, according to new research.

More than half of UK adults will leave a business’s website within just 30 seconds if it is ugly or hard to navigate, found the survey commissioned by design agency Studio Graphene.

The survey also found that 24 per cent of consumers have switched loyalty from one company to another whose technology delivers a better customer experience in the past five years.

And 52 per cent of people say they always research a business online before deciding to spend money with them.

“It might not shock many business leaders to learn that tech is fundamental to success,” said Ritam Gandhi, founder and director of Studio Graphene.

Read more: Lack of tech talent holding back London start-ups

“However, today’s research provides some really interesting insights into just how small the window is for companies to win over consumers – within half a minute a potential customer will make their mind up about whether or not to spend money with a business.”

The survey also revealed overwhelmingly positive sentiment towards the General Data Protection Regulation (GDPR).

Almost two thirds of UK consumers said that they were happy with GDPR as it has made them realise how many businesses had their details.

Read more: Brits embrace fintech amid digital shift

“There is no right or wrong way to build a website or an app; it will all depend on the business and its clients,” said Gandhi.

“But one thing is clear: any company that does not prioritise its tech risks losing out to competitors that offer a slicker online or mobile experience to customers.”

Read more: Competition launched for UK’s most promising fintech start-ups