How Knowledge Management Improves Customer Engagement?

According to a PwC study, 80% of customers point out that speed, convenience, knowledgeable help, and friendly service are the most important elements of a positive customer experience. 

However, in contemporary business, delivering seamless customer experiences is an ongoing challenge. Businesses today grapple with diverse touchpoints and evolving customer expectations and are consistently looking for strategic solutions. The challenges of real-time customer demands and finding the relevant information at the right time are problems the agents face even today.

In this blog, we will focus on how knowledge management is one of the effective strategies that help you reshape customer engagement.

7 Ways Knowledge Management Makes a Difference in Your Customer Engagement

1. Delivers the Right Knowledge Right Away
2. Creates Omnichannel Customer Experience
3. Makes Self-Service Efficient and Low Effort
4. Empower Support Teams to Deliver Top-notch CX
5. Improves Metrics While Reducing Support Costs
6. Reduces Call Escalations
7. Fosters a Knowledge-Sharing Environment

1. Delivers the Right knowledge Right Away

One of the biggest challenges in delivering great customer service is data silos. When knowledge is scattered across multiple sources, agents take longer than usual to find the proper knowledge. Due to time crunch and information overload, they fail to deliver satisfactory customer service.

A knowledge management system eliminates data silos by consolidating information from various departments into a centralized repository. Modern knowledge management systems using AI empower agents to talk to the knowledge base and receive precise answers to their questions, doing away with the need to search for information manually.

Alternatively, knowledge base software also makes information search frictionless for agents with well-defined knowledge organization structures.

2. Creates Omnichannel Customer Experience

According to a CCW digital survey, contact center leaders identify disintegrated systems as the #1 cause of poor productivity, technology challenges, and agent complaints. 

Without efficient knowledge management software, customers are forced to repeat information as they switch from one channel to another, which hampers their experience with the organization.

Knowledge base software maintains the consistency of information across touchpoints by creating a single source of truth. This helps deliver a seamless omnichannel experience where customers receive the same information regardless of the platform they choose.

3. Makes Self-Service Efficient and Low Effort

Self-service is not new. In fact, it started in the 1880s as vending machines dispensing basic items like postcards and stamps.

But just because something exists for a long time doesn’t make it effective. Today, with a knowledge management platform, the information is dispensed across channels like web chat and chatbots and is reliable and consistent, which helps your customers resolve issues independently.

A well-organized knowledge base also reduces the reliance on your agents for routine inquiries and mundane tasks. This shift allows agents to focus on more complex problems, enhancing their job satisfaction.

Empower your customers to solve challenges independently.

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4. Enhances Agent Productivity with Guided Knowledge

Time is of the essence in customer service, as 90% of customers say an immediate response is critical when they have a problem.

Imagine your agent receiving an angry call about a new issue they’re unfamiliar with. They’re juggling numerous tasks daily, and finding the right information at such a time can be challenging. 

That’s where knowledge management software comes in. It organizes complex SOPs into guided workflows, giving agents quick access to relevant information. This empowers them to handle issues efficiently, providing a better customer experience.

Here’s a quick overview of how Knowmax knowledge management helps deliver better customer engagement:

5. Improves Metrics While Reducing Support Costs

Knowledge management systems enhance the findability of information across channels. This affects contact center metrics such as average handle time (AHT), first contact resolution (FCR), and CX. 

When knowledge is readily available to agents, it naturally reduces the time to solve a problem and increases the possibilities of resolutions at the first contact. 

With modern KMS integrating seamlessly with self-service channels and other contact center technology, agent productivity and customer self-service quality start aligning with your business goals. This not only brings a solid return on investment (ROI) but also lowers support costs.

6. Reduces Call Escalations

Customer service teams, armed with comprehensive knowledge, can handle a wider range of issues without the need for escalation.

In a knowledge-rich environment offered by an efficient KM, customer service agents become more self-reliant in handling diverse issues. This reduces the dependency on specialized teams, streamlining the support process and minimizing delays associated with call escalations. 

Consequently, customers benefit from quicker resolutions and are more likely to have their concerns addressed in a single interaction, leading to a higher customer satisfaction rate (CSAT).

7. Fosters a Knowledge-Sharing Environment

Knowledge management plays a pivotal role in creating a culture of knowledge sharing in your organization. When information is centralized and easily accessible, team members are encouraged to collaborate and share insights. This collaborative culture enhances the team’s collective intelligence, allowing them to draw on each other’s experiences and expertise.

The shared knowledge enables agents to better serve the customers and deal with complex problems hence improving customer engagement.

Improve your Customer Engagement with Knowmax – Case Studies

21% improvement in FCR with Knowmax for leading Telco

One of India’s leading telecom companies struggled with an unmanaged knowledge base and poor information retrieval where agents couldn’t deliver accurate resolutions over the first interactions.

Result?

Repeat calls, high cost-to-serve, and below-average customer experience.

This is where Knowmax came in, improving their FCR by 21% by helping them with content centralization and its neat arrangement.

Uncover the full story here

A Leading Online Food Delivery App Reduces AHT By 15%

The leading online food delivery app aimed to minimize customer effort with order deliveries and digital customer support.  

Enter Knowmax.

Using Knowmax’s knowledge management system for digital engagement, the food delivery app reduced AHT by 15%.
Learn how in this case study

Leading Fintech Startup – Jupiter Delivers Outstanding CX Across Channels

Founded in 2019, Jupiter is a digital-born banking startup. It needed to establish solid human connections to gain customer trust in an industry accustomed to decades of relationship management and branch interactions.

However, when they started with their grand vision for customer support, challenges like scattered SOPs, outdated and wrong information delivery, and longer agent learning curves obstructed the mission.
 
In Knowmax, they found a solution that could empower their frontline support teams with the latest knowledge, create a single source of truth for their SOPs, and reduce agent learning curves.

Watch The Full Video Below to Uncover The Full Story