In research published in Times magazine, it was revealed that the average cost of a 1-minute system downtime is approximately $5,600. And depending on the organization’s scope and size, the real value of downtime per hour can range anywhere between $150,000 and $550,000. For bigger companies, this cost can even go higher. More than 30% of companies revealed that 1-hour downtime could cost them $1 to 5 million.
Here are the top three ways in which businesses are affected by system downtime:
Most businesses nowadays largely depend on online services and communication. From customer support systems to task management tool, virtual chat applications and email systems, losing access to these may bring work and productivity to a halt.
There are many companies and small-scale businesses that rely heavily on cloud-based applications. Meaning, when they experience server errors, they might be left without any work to do while waiting for the error to get resolved.
This is especially hurtful for companies which engage in a substantial volume of business on the Web since network loss means their customers can’t find them and buy their services and products online. And as a consequence, they will have lesser revenue.
If your business model is dependent on network availability in delivery service, website downtime can make it hard to reach out and market to existing customers of the business. This will all the more build the case for subscribing to a website outage status checker.
Downtime in the system can also impact companies that rely on online sales to drive their business. Research studies show that approximately 47% of online buyers expect a business site to load the content in under two seconds. Given the stakes, it’s sad to admit that even slow loading is already unacceptable, how much more for total service loss?
Damage to brand reputation is another adverse effect of system downtime. Yes, losing access to the network may affect productivity and may add up more to the business’ overhead, but in the long-term, it can damage the brand’s image.
If customers always encounter server outage, they might resent the company and stop patronizing them altogether. What’s even worse is that they can easily share their experiences with other prospective customers. Bad publicity and reputation can leave a business scrambling to win the public’s trust again.
Don’t let these happen to your business. Invest in a reliable website status checker today and grow your customers’ trust and patronage. Is It Down can help you in this matter? Talk to them today and experience the difference.