In the modern world, effective knowledge management for superior customer experiences (CX) is a must.
But before we get into why the above statement is accurate, we must understand what knowledge management is to begin with.
Knowledge, in this context, refers to any information about your company and brand – from product details to company policies and Frequently Asked Questions (FAQs). Knowledge management is the organization of this information through an online accessible database or simply documents that consumer-facing employees use to aid their interactions with customers.
Picture a call center script frequently used by agents answering phones and dealing with customer complaints. These scripts will often have the best practices for dealing with these complaints and a compiled list of the most frequent doubts and questions customers might have.
Therefore allowing agents to simply consult the script for answers instead of searching for solutions, checking with their superiors, etc. This means they can handle each call faster, screen more calls every day, and service more customers than otherwise. Ultimately leading to a better customer experience and increased profits through an optimized process and fewer funds spent on training sessions, etc.
To sum up, enterprise knowledge base management brings superior customer experience by:
1) Helping customers access knowledge around their products and favorite brands, therefore boosting their satisfaction levels, and
2) Giving customer service agents access to answers and information about the most common queries and doubts, allowing them to serve customers faster – reducing customer churn, average call times, dependencies on training programs, and more.
Now that we’ve got a general idea of how knowledge management for superior customer experience is a must, we can look at how it elevates CX in a little more detail.
How does knowledge management elevates CX?
1. Promotes round-the-clock service
In some companies, Call center agents work in shifts to ensure phones are answered no matter the day, but this isn’t always the case. Other companies have shifted to AI, utilizing tools such as chatbots to ensure that customers have a route to service 24×7. Chatbots are usually provided by third-party vendors but are linked to an informational, digital database hosted by the organization itself.
This database possesses reams of information, from basic product information to tutorials or FAQs, and the chatbot simply uses triggers in customer questions to bring up related solutions and answers. For example, if you were to ask the bot for a ‘refund,’ the bot will search through the company’s database for queries related to the word and pull up an answer regarding that company’s policies around refunds.
More advanced bots can even conduct the refund transaction for you, allowing you to refund an item and schedule a pick-up date for the same, all without a single human intervention. If the company sold electronic items, for example, a washing machine, you might have a query about how to use the said item in a particular way. The bot will, once again, parse keywords from your question into their database and pull up relevant answers for you to read – instead of an agent needing to guide you through the process.
Most bots will still allow you to request access to a live customer service agent if you cannot find the answers you need, but this is usually a last resort to be used only if customers feel they need further assistance.
2. Empowers customers through self-service
Self-service is one of the biggest revolutions in the sales and service industry, changing how companies look to care for their customers and ensure positive CX. Earlier, heavy emphasis was placed on a ‘personal touch’ – companies would ensure that a company representative met customers to show they cared and were alert enough to respond in person. But self-service changed how these interactions were viewed.
Some studies showed that customers cared less about this personal touch and more about having their resolutions resolved quickly and efficiently – no matter how this resolution came about. Knowledge base management brings superior customer experience & satisfaction in this area, as solutions like the bots, as mentioned earlier, or simple documents like FAQs allow customers to quickly find the answers they are looking for, resulting in a lowered reliance on interactions with service agents. And higher satisfaction through quick interactions and empowerment arises from being able to seek and find solutions for themselves instead of waiting for minutes on end to get an over-burdened call center agent on the line.
KM solutions give customers the ability to self-serve, which only serves to boost their impression of a company, contrary to what traditional salespeople and companies believed.
3. Quickly resolves customer queries
If we think back to our earliest interactions with helplines or call center agents, the picture is one of frustration. Endless hold tones or muzak, twiddling our thumbs as we wait for a customer service agent to finish their existing call and attend to ours. No surprises here to not that this often led to customer churn – where customers would hang up before an agent could get on the line – before resolving never to deal with the company again because of their negative experience.
Meanwhile, service agents were under pressure to attend to more calls than ever in order to combat churn but had to ensure they gave each customer enough time on a call to handle queries and complaints. This delicate balancing act rarely worked out for either party, so solutions like KM for superior customer experience are an absolute must. A simple IVR system is an example of this. Where earlier, an agent would have had to answer the phone and direct you to the right department depending on the nature of your query, automated IVR scripts quickly filter customer calls to the correct department with the press of a few buttons, saving countless hours for not just agents, but customers themselves.
Similar tools like an online knowledge base FAQs allow customers to look up solutions for themselves instead of needing to call the helpline and wait. Fast resolutions lead to happy customers – and better CX.
4. Educates customers and boosts retention
As mentioned above, giving customers tools with which they can self-serve will keep them happier and thus boost retention. Customers will remain loyal to companies that make their lives easy and will move on from companies that have great products if their service doesn’t match.
Tools like online manuals and FAQ documents also help educate consumers on the products they acquire, leading to fewer basic questions posed to service agents. This frees up time for service agents to attend to more complex questions and queries – thus keeping even more customers happy and loyal as a result. KM tools for customer service ensure a cycle of information and customer satisfaction and are a sure way for you to boost retention rates.
By this point, we can all agree that KM is a vital component for superior CX – all that’s left is for you to select a partner to provide the same so you can boost your customer satisfaction rates. There are a number of KM solutions providers available, and a quick search online will connect you with some of the best KM parties available on the market today. Reduce customer churn, acquire the tools to allow people to self-serve, and boost your CX today!
Sowmya Juttukonda is a digital media specialist at Knowmax. Knowmax is an AI-backed knowledge base for support agents that helps enterprises reduce support costs and solve productivity challenges. Knowmax, which is powered by decision trees, picture guides and a robust content management system, supports quick answers to knowledge base queries, seamless customer experiences and business efficiency.