Knowledge Management Best Practices
5 Knowledge management best practices for customer engagement
eGain has implemented knowledge solutions for blue-chip companies worldwide, helping them design and deliver great customer experiences. In the process, we have compiled hundreds of best practices. Implementing these best practices not only delivers ROI, but also enables transformative customer experiences. Here are some of them.
Best practice #1: Quantify value
Assessing expected and realized ROI before and after the deployment helps you justify the initial investment as well as continuous improvement of the knowledge base (KB).
Make sure the ROI metrics you use are aligned with business objectives. For instance, if your business goal is to increase upsell and cross-sell, reduction in average handle time (AHT) will be a conflicting metric. As you assess ROI, keep in mind that knowledge management delivers positive ROI across a broad range of business problems. Some examples are:
- Deflection of requests for agent-assisted service through effective self-service.
- Increase in first-time resolution and sales conversion.
- Reduction in escalations, transfers, repeat calls, and average handle times.
- Reduction in training time, unwarranted product returns, field visits, and staff wage premiums.
Best practice #2: Build the team
Successful knowledge implementations employ the right team for knowledge capture, creation, and continuous improvement. Empower a cross-functional team that can bring a 360-degree approach to knowledge management.
Best practice #3: Start with depth
Unfocused knowledge deployments almost always result in a shallow knowledge base that is full of holes like Swiss cheese. If users can’t find answers, or receive inadequate or wrong information, they will simply stop using the system. Focus first on depth rather than breadth. Start with common questions on common products or lines of business (the 80–20 rule) and expand out over time.
Best practice #4: Maximize findability
Users prefer different ways of searching for information. Multiple search options improve knowledge base adoption and ROI. For example, new agents may find it difficult to wade through hundreds of keyword search results, but might fare better if they are guided through a step-by-step dialog, powered by technologies such as Case-Based Reasoning.
Multiple search options such as FAQ, keyword and natural language search, intent-driven search, topic-tree browsing, and guided help allow a broad range of users to find information quickly and easily. Make sure to use a common omnichannel knowledge platform to ensure consistency of answers and don’t forget to deliver knowledge across traditional and mobile devices for access anywhere.
Best practice #5: Crowdsource, but scrub
Foster and harvest social knowledge but scrub and unify with trusted knowledge, and then proactively publish across all channels. Knowledge in online communities and social networks foster peer-to-peer service and can help augment enterprise knowledge assets.
Best practices equal success
Proven best practices combined with a mature technology can get incredible CX results for the business. Look at these:
- A leading telco improved FCR by 37% and NPS by 30 points, while speeding up agent time-to-competency by 50% across 10,000 agents and even 600 retail stores.
- A large HCM provider and BPO company saw an immediate 70% adoption of its eGain knowledge system when it had hoped to reach 40%.
- Leading North American telco reduced average handle time (AHT) by 17% and incoming calls by 19% with omnichannel knowledge.
- Global media and legal services company deflected up to 70% of its calls, while making go/no-go decisions on high-profile litigation services projects.
- Leading global bank reduced call handle time by 67% and agent training time by 50%, while its subsidiary vaulted to the #1 position in customer experience in its market.