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So converting the remaining 45% is of no interest? Of course you will lose part of an audience, it is the % audience you keep and convert that matters, and if long-copy sites didn't work people wouldn't use them.My short answer would be no - 55% of visitors to any web page spend less than 15 seconds looking at it. If they haven't seen their answer within 15 seconds, then they surf elsewhere.
So converting the remaining 45% is of no interest? Of course you will lose part of an audience, it is the % audience you keep and convert that matters, and if long-copy sites didn't work people wouldn't use them.
I think long-form is relevant but it depends on the situation. I would encourage you to look at the usability perspective. Folks like Jakob Nielsen have written extensively about this.Long page formats seem to work well when you've got little to say or you're selling few products or services. I think there's still benefit to multiple pages where you have enough content for each page to ensure reasonable content density vs. design.