The financial services industry is incredibly fast-paced and competitive, with many businesses looking for a way to stand out from the competition, adhere to strict regulations, and meet evolving customer expectations. Through it all, customer experiences play an integral role in how well companies can retain customers and drive growth.
Learn how you can stress-test your customer journeys with Cyara’s automated testing solutions.
In today’s business landscape, regardless of your industry, it’s impossible to overstate the importance of CX. Recent studies show that companies that are focused on providing high-quality have seen an 80% increase in revenue. When it comes down to it, businesses that fail to invest in and focus on making serious CX improvements are less likely to generate long-lasting customer relationships and maintain a competitive edge.
CX-related issues such as slow response time and downtime caused by an influx of interactions can degrade customer perceptions of your institution’s brand and lead to a drop in revenue. By implementing load testing tools into your CX strategy, you can proactively address these risks and deliver optimized interactions that will delight your customers for long-term company success.
Why is Load Testing Important?
For businesses in the financial sector, your customers expect to always be able to connect with your institution. Money and finances are often very sensitive topics for many people, requiring quick responses and speedy resolutions to any and all queries.
But, during busy times, your CX pathways may face some extra strain, leading to performance issues such as long wait times, system failures, and unexpected downtime that impact interactions and make it difficult for your customers to reach your agents. And, to make matters worse, industry-wide competition means that your customers may decide to switch their business to one of your competitors after only one poor interaction. It’s more important than ever to mitigate the risk of an error occurring, damaging your reputation and bottom line.
That’s where load testing is essential. With load testing, you can proactively address issues in your CX infrastructure by simulating peak traffic and determining your system’s capacity. If there are bottlenecks, you address these weaknesses and prepare your systems so that your customers won’t be impacted in the future.
With load testing tools, you can:
- Identify issues within your CX channels, without having to expose your customers to potential defects.
- Address weaknesses early in the CX development lifecycle, avoiding delays and rework further down the line.
- Ensure your systems are always prepared to perform, even under peak traffic and strain.
- Scale your CX offerings to handle thousands of simultaneous interactions.
The Advantage of Automated Load Testing Tools
Still, the process of load testing and optimizing your CX channels isn’t a task that should only be performed once—or even once in a while. Updating your tech stack, deploying new CX channels, and changing your existing journeys are only a few examples of situations that can introduce defects into your infrastructure. Effective load testing requires ongoing and continuous execution to ensure that you’re catching and eliminating issues before they can affect your customer experiences.
Unlike costly, time-consuming, and resource-intensive manual tests, which can only verify a small fraction of your infrastructure, automated load testing tools empower businesses to schedule tests at regular intervals and simulate thousands of interactions in a fraction of the time.
Automated load testing tools make it possible to push your system to its limit and determine how well it can handle maximum pressure. For financial institutions, automation is critical for confirming that your CX pathways are prepared for traffic spikes, when your customers want easy access to their finances and solutions to their own problems. Without continuous testing, it can only be too easy for a defect to escape into the live environment.
Avoid the risks of downtime and outages and eliminate the defects that can cause customer frustration and mistrust. When you leverage automated load tests and optimize your CX, you can ensure that your customer service offers will meet customer expectations, so you can reduce churn and scale your business for success.
Discover the Difference with Cyara
Cyara’s AI-Led CX Transformation Platform empowers businesses to regain visibility and take control over the entire CX development lifecycle. Using the insights and data from our automated testing solutions, you can adjust and improve your CX channels, ensuring that you stand out from the competition and effectively serve your customers.
Cyara’s automated load testing solution allows you to stress-test individual aspects of your infrastructure, address any identified weaknesses, and confirm that updates to your CX journeys are actually remediating defects.
When you partner with Cyara, you can assure your CX channels can handle peak traffic and delight your customers. Contact us to schedule a demo or visit cyara.com to learn more.
