In this digital world of connectivity, most businesses build a close and effective relationship with its customer, which is just at a distance of one click or message. Nowadays the customers also expect more sense of ownership from the organizations. They don’t want to dial some helpline and wait for long in case of any issue or query. To always stay in touch with your customers, you need to design a knowledge management system. There is no set rule or defined boundary for a knowledge management system; it can be as simple as a FAQ page on your website or as complex as a 24/7 chat service with an assistant dwelling into more comprehensive, detailed, and specific questions.
Customer Knowledge Management System
A customer knowledge management system is a type of IT system that stores customer data. This data can then be retrieved to obtain knowledge about a particular customer, understand their needs, collaborate with them, and align a customer service process. Customer knowledge management systems exist within teams or organizations. They can be also be used as a knowledge base for customers and users.
The simple definition of a knowledge management system is that it helps people utilize knowledge to perform better. A knowledge management system has three main features.
1. Identification of Knowledge
An organization needs to identify its source of information and knowledge. These are the most valuable assets for any company. The success of a business lies in managing its knowledge and information.
Setting these priorities can help structure a business properly. Other tools, processes, and tasks related to business can also get shaped by defining knowledge and information.
2. Storage and Collection of Knowledge
Once you have identified the sources. The next step is to develop a business process that can store and collect this information. The knowledge should be stored in a way that it can be easily accessible to employees in the organization for use.
3. Sharing Knowledge and Information
The last and most important step is sharing the information. To enhance the quality of a business it is important to provide more efficient and effective customer service. All customer representatives should have access to customer information, products, and services. This ensures that whoever a customer may speak to, they will get proper and precise answers.
Before we discuss in detail the benefits of a knowledge management system for a business, we need to know what type of knowledge is needed to be integrated into a business knowledge management system. A knowledge management system typically has the following datasets for its customers:
- FAQ’s (Frequently Asked Questions) and its Answers
- Instructions, Tutorials, or How to Articles
- Videos or Schematic Images
- Prerecorded Seminars
- Community Forums and Discussions
Benefits of a Customer Knowledge Management System
While the datasets can vary depending on the type of business operations and the targeted customers, the benefits are mutual for both producers and consumers. If you want to know if the knowledge management system is worth all the hustle, then let’s check the benefits of a customer knowledge management system for your business:
- Empowering staff and customers
- Higher rate of customer retention
- More brand authenticity and trust
- Team alignment
Customer Relations and Knowledge Management System
A knowledge management system is an essential part of customer relationship management. The knowledge management system can track emails, the number of calls, questions, most common issues, customer records, complaints received, complaints solved, and many other things.
This way, a knowledge management system provides business owners with customer feedback on a product or service. They can focus more on weak areas and make necessary improvements to avoid future complaints. A knowledge management system can also help improve customer satisfaction with self-service capabilities. The best example of this is an FAQ page.
The most asked questions from a customer can be included in the FAQ. A customer will not have to wait longer to speak with an agent. They will find most of their answers on the FAQ page of your website. Such self-service options help save the time of the customer and even the service provider.
To integrate a knowledge management system in your company. Check for a Dynamics CRM Consultant who may help you integrate your existing CRM with a KMS and improve your business.