How Robust Knowledge Management Leads To Great CX

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Knowledge management software falls under the umbrella of Enterprise Content Management Software with a wide range of specialist software to collect, store, curate, and access information.

Knowledge Management (KM) is the practice of corporations, regardless of their size, to identify, create, represent, and redistribute information from a single source or database for various purposes like solving an existing customer’s complaint and answering queries from a potential new customer.

Knowledge Management is a sorted way to communicate innovations, build new knowledge in different teams, and improve customer experience (CX).

Relation between Knowledge Management and CX

Knowledge management software is essential for the building of a knowledge base. The Knowledge base is a searchable directory with all information to be used by internal teams and Artificial Intelligence tools to solve customer’s queries, apprehensions, and complaints from a single source of information.

Knowledge Management and CX are more closely related than one might think of; helping customers with relevant and concise information reaps both strategic and financial rewards. Knowledge Management has some significant advantages which help improve Customer Experience (CX) while saving resources and capital. 

7 Benefits of Knowledge Management

Some of the most significant advantages of Knowledge Management are: 

#1. Speed

Knowledge Management helps reduce search time with accurate information available with just a search. Time is of the essence when troubleshooting consumer’s issues or answering customer’s queries. 

#2. User Experience

Straight-forward answers, reliability, and increased speed in resolving queries and complaints help improve customer satisfaction.

#3. Consistency

With Knowledge Management, one can access the same answers across digital and human interactions. Conflicting information could be frustrating for any consumer, but Knowledge Management ensures a common platform and basis of the information, maintaining consistency around multiple channels.

#4. Lower average handle time

Customers value short handling times highly. They also help reduce working costs for any company. A query handled accurately with low handle times is always appreciated by a customer and boosts consumer experience. 

#5. Lower contact volume

Knowledge Bases keeps the consumer on the driver’s seat while navigating through their seats with a searchable directory. With a well-designed knowledge base, consumers do not require assistance and can solve most problems with a simple search.

#6. Reduced escalations

With all the relevant information at the disposal of the consumers and internal teams, chances of escalations drastically reduce. A knowledge base contains countless data with multiple approaches for an agent to solve a problem. 

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#7. Increased first contact resolution

Knowledge base for call center is accurate, complete, and up-to-date solving customer issues in the first go. This reduces the chances of getting a call back from a customer as an agent or AI can proactively lookup for any follow-up questions a consumer might have. 

How is KM changing the CX game?

A centralized repository of content along with frequently asked questions, procedures, and similar information could help companies search the knowledge base using keywords and natural language. This provides consistent and accurate answers to customer queries, regardless of the channel the customer chooses to communicate. 

We looked at a few reasons above at how knowledge management can empower both customers and employees with their information. Customer service issues are bound to grow both in number and complexity, making investing in a sound Knowledge Management system paramount for improved Customer Experience (CX).

Knowledge Management Systems have features that help deliver specific answers to questions. They can also be configured to retain and remember the customer history and context, so the likely follow-up questions are shown automatically, starting with a fast, intuitive search and simple, consistent format answers and the opportunity for the user to provide immediate feedback to help ensure the answers are up to date and configured in the right way.

Knowledge Management systems reduce complex issues to simple questions and convenient solutions, making all agents look like experts.

Future of KM in the contact center 

Customer satisfaction will remain a key contact center metric. 73% of organizations believe CSAT should be on the quality scorecard. Despite the hype surrounding self-service technology, 64% of organizations think customers should have easy access to a live agent.

Organizations are of the common opinion that artificial intelligence should complement, rather than replace, human agents. In a summer 2018 CCW survey, consumers said they prefer “easy” experiences to “personalized” ones.

Organizations, interestingly, believe that increasing personalization is more important than reducing customer effort, while less than one-third of organizations believe in “right-channeling” customers to a more efficient touchpoint. Increasing digital engagement capabilities is the #1 priority for 2019.

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The popular investment choices for companies include customer feedback solutions, live chat, and coaching. In the age of digital transformation, technology is evolving at an astonishing rate. However, the technology used in contact centers hasn’t kept pace, which can have severe implications on CX. According to a recent CX study by CCW Digital:

  • Fewer than 25% of businesses can handle complex interactions in digital channels
  • Only 3% of customers are “extremely happy” with the experiences they receive
  • 54% of customers consider switching to a competitor based on a bad customer experience

The most successful contact centers incorporate a variety of smart technologies to elevate customer experience, including:

  • Artificial intelligence (AI) provides context-based “next best actions” to agents known as agent scripting tool.
  • Robotic Process Automation (RPA) to eliminate error-prone manual processes.
  • Dynamic Case Management to provide a holistic view of customers and understand who they are and what they need now.
  • Enterprise Low-Code to build custom solutions fast
  • Omni-channel capabilities to provide seamless customer interactions

Conclusion

The fundamental fact to remember with Knowledge Base is that quickly adapting to changing technology, consumer demands could go a long way in improving customer satisfaction.  While choosing the right contact center solution for your business, look for the following essential ingredients of a modern contact center:

  • Programmability: Easily customize every step of the customer journey, making changes as your needs evolve.
  • Omnichannel: Connect with your customer on their preferred communication channel.
  • Contextual Intelligence: Enable proactive and intuitive conversations using the latest in artificial intelligence.
  • Scalability: Trust your platform infrastructure to scale with you reliably.

A planned knowledge base could improve an organization’s CX metrics beyond imagination but it needs constant innovation and requires adapting to changing trends and tech.

Pratik Salia
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