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Knowledge Management Systems: What You Should Know

Jun 23

We often have problems when it comes to customer service. Additionally, when you have a backlog of support issues, it may be challenging to be proactive and develop long-term plans to help your customers thrive. You'll also see that many of the same challenges and problems keep coming back.

You may drastically improve your customers' lives by putting in place the correct knowledge management system.

You could find that putting in place a knowledge management system can help you...

  • Cut down on the price of client service
  • Encourage your clients to be happier
  • The improvement of consumer happiness in general and ROI

By responding to their questions in real time and giving them the choice of self-serve customer assistance, you can empower your customers. Additionally, if you make these tools accessible to consumers so they can assist themselves, you'll have more time to focus on higher-value tasks.

Users are eager for support like this.

Self-service applications are anticipated to be commonplace on corporate websites in the future, according to 70% of consumers. By 2020, according to forecasts made by Gartner, 85% of a company's engagement with its customers will be conducted without any human contact.

Businesses who provide this resource will have a competitive edge in the market. 89 percent of businesses will compete in the future largely on the basis of customer experience, according to Gartner.

This thorough instruction will be very helpful to your knowledge management system. It will also go through examples, advantages, drawbacks, suggestions, and software options.

Take it at its value and just pay attention to the parts that apply to your situation right now.


Where can I learn more about a knowledge management system?

Knowledge management systems are IT systems that store and retrieve information to improve comprehension, collaboration, and process alignment. Although organizations and teams may have their own knowledge management systems, consumers or customers may also profit from their utilization.

It's okay that this phrase is rather broad.

The creation of a knowledge base or knowledge management system to better assist customers and ensure their success with your goods or services will be the main emphasis of this lesson.

A knowledge management system's main objective is to help users make better use of their information in order to achieve their objectives. Customer success may be reframed as a more proactive strategy in this context. In your support ticketing system, you may respond to inquiries in real time rather than having to repeat yourself.

Despite the wide range of choices, all knowledge management systems have the same fundamental characteristics. Here are a few instances:

  • Questions and Answers (FAQ)
  • Knowledge of how to perform things
  • Academies, schools, and other places of learning
  • Certificates
  • The case studies listed below are a few examples
  • Webinars

Numerous benefits come with an efficient knowledge management system

Knowledge management systems make best practices accessible to customers, which results in happy and prosperous clients. Customers who are satisfied and successful are more inclined to recommend the company to their friends, make more purchases (and more often), and generally act as passionate brand ambassadors. Knowledge management solutions unquestionably have a beneficial effect on the bottom line.

You may expand customer assistance without increasing the expenses related to offering this level of care by using a self-serve customer service portal (such as a knowledge management system).

It costs money for a customer care person to handle a client's issue. Live chats for customer service may run you $6–12 each interaction, but automated chats can cost as little as 25 cents. Forrester claims as much.

By developing a successful knowledge management system, you'll make customers happier and your support staff more efficient.

Another advantage of knowledge management systems is customer conversion. Did you know that when they need a new product, tool, or service, 32% of customers look for product manuals, instructional information, and best practices? Your information management system could be able to distinguish between an inquisitive and a loyal consumer.

Knowledge management systems may be expensive and time-consuming to set up, but if done well, the advantages outweigh the disadvantages by a wide margin. Contrary to the widespread belief, knowledge management systems are not necessarily required for very complex goods and services that need for considerable training.

To ask inquiries regarding a typical e-commerce site, users still go to the FAQ page. The best method to help customers with their enquiries is still to compile a library of knowledge.