What You Need To Know About Knowledge Management Systems

Mar 14

When it comes to customer service, we're typically on the receiving end of issues. In addition, it's difficult to be proactive and work on long-term strategies to assist your clients succeed while you're overloaded with support tickets. In addition, you'll note that many of the same problems and issues come up again and again.

With the right knowledge management system in place, you can transform the lives of your consumers.

It's possible that setting up a knowledge management system will assist you in...

Reduce the cost of customer service
Inspire greater joy in your customers
Enhance the overall satisfaction of customers and the return on investment

You may empower your consumers by answering their inquiries in real time and providing them with the option of self-serve customer service. In addition, you'll have more time to work on higher-value activities if you make these tools available to customers so they can help themselves.

Support like this is much-desired by users.

70% of people anticipate a company's website to have a self-service application, and this is expected to become the norm in the future. An estimated 85 percent of the relationship between an organization and its customers will take place without any human interaction by 2020, according to Gartner's predictions

Businesses will be able to gain an advantage in a competitive market if they offer this resource. According to Gartner, 89% of companies will compete primarily on the basis of customer experience in the future.

Your knowledge management system will benefit greatly from this comprehensive tutorial. Additionally, it will discuss examples, benefits, problems, advice, and software possibilities.

Take it at face value and skim over the sections that are most relevant to your current predicament.

Where can I find out more about a KM system?

IT systems that store and retrieve knowledge in order to enhance understanding, collaboration, and process alignment are known as knowledge management systems. Organizations or teams may have their own knowledge management systems, but they can also be used for the benefit of customers or end-users.

This is a rather broad term, and that's fine.

In this tutorial, we'll focus on the second description - how to create a knowledge base or knowledge management system to better serve consumers and help them succeed with your products or services.

The purpose of a knowledge management system is to assist people better utilize their information in order to accomplish their goals. In this light, customer success might be reframed as a more proactive approach. You don't have to answer the same questions over and over again in your support ticketing system because you can do so in real time.

All knowledge management systems have the same basic qualities despite the variety of options. These are some examples:

Frequently Asked Questions (FAQ)
Information on how to do things
Training programs, academies, and educational institutions
Certificates
The following are examples of case studies.
Webinars

An effective knowledge management system has numerous advantages

Best practices are made available to customers through knowledge management systems, which leads to satisfied and successful clients. Customers who are happy and successful are more likely to return for more purchases (and more frequently) and to spread the word about the brand to their friends, making them enthusiastic brand champions. There is no doubt that knowledge management systems can have a positive impact on the bottom line.

A self-service customer service portal (e.g., a knowledge management system) allows you to grow customer support without raising the costs associated with providing this level of service.

When a consumer has a problem, it's expensive to have a customer service representative deal with it. Live customer support chats can cost $6-12 per encounter, whereas automated chats can be as low as 25 cents. This is according to Forrester.

Customers will be happier and your support personnel will save time by creating an effective knowledge management system.

Converting customers is another benefit of knowledge management systems. Did you know that 32% of consumers seek to product guides, educational content, and best practices when they require a new product, tool, or service? It's possible that your information management system can make the difference between a curious customer and a committed one.

While knowledge management systems might take time and money to implement, the benefits far exceed the drawbacks if done correctly. Despite the common misconception that knowledge management systems are only necessary for highly complicated products and services requiring extensive training, this is not always the case.

However, individuals still visit the FAQ page to ask questions about a normal e-commerce site. Compiling a library of information is still a good way to assist clients with inquiries.