Friday Mar 22, 2013

Enterprise Knowledge Management = Information + Context

I was in London recently and strolled past a man in Hyde Park exclaiming, “You’ve got to have faith!” to a crowd of onlookers. A cheeky lad yelled back, “Faith? I already got that one. George Michael. Tower Records.” Even the preacher cracked a smile at the sarcastic quip.

I came away with something more profound: that the same word can have radically different meanings depending on the context.

I have spoken to several customer service companies and they all claim to have Knowledge Management (KM). But when I look more closely, what I discover are fragmented knowledge repositories siloed by channel—one for web FAQs, another for phone support, and so on. So customers get a different answer depending on which channel they engage.

If this describes your company, then beware. Customers expect you to know who they are and what they want so you can provide the right answer the first time. In fact, First Contact Resolution (FCR) is the most significant driver of customer satisfaction and knowledge management has the greatest ability to improve FCR. A recent CFI Group study found that 68% of customers who don’t have their issues resolved on first contact are at risk of defection.

On the upside, companies that resolve customers’ issues on first contact benefit from a greater share of wallet, with 94% of customers saying they will buy again from the company and 88% saying they will increase their spending (Harvard Business Review).

How do you get in the group that earns a greater share of the customer’s wallet? Simple: invest in an Enterprise Knowledge Management solution.

Only an Enterprise Knowledge Management solution gives you one consolidated source of knowledge for both agents and customers—and the context of customers' support requests so you can provide personalized, relevant and consistent answers across channels.

A good Enterprise Knowledge Management solution would be able to discern the different meanings of the word “Faith,” just as those onlookers did in Hyde Park. So it could determine whether you were searching for something religious or spiritual versus a British pop album.

That’s something no document or content management system can do because they have only information, not context.

Do your customers and yourself a favor. Invest in an Enterprise Knowledge Management solution like Oracle’s KM solutions to decrease Mean Time to Resolution and increase First Contact Resolution. Then watch your customer satisfaction and loyalty soar!

Please visit our website for more information on Oracle’s Knowledge Management solutions, or register for a CloudWorld near you.

Friday Mar 08, 2013

Right Answer, Right Time, Right Channel = Right Customer Strategy By Lynn Barnhart

How do you provide your customers with the right answers at the right time when they have a service issue?  When should you guide them to find the answers themselves and when should you step in and lead them to a call center agent for answers?  Why is any of this important?

Let’s answer the last question first.  Great customer service can be the true differentiator between you and your competitors. It is a differentiator for getting and keeping more customers.  In today’s 24/7/365 multi-channel, digital world, you have to have an integrated approach and be armed with tools and resources to resolve customer service issues quickly and efficiently.

And, you can’t just resolve the issue, you need to personalize the service and provide it through the customer’s channel of choice.  If the resolution is through an agent, that agent must have knowledge of the customer’s current issue and their relationship history with your company. That’s the only way to proactively offer the right answer to that customer. 

What are best practices for delivering the right answer at the right time?  Why not start with a guidebook from Nucleus Research with insights into enabling agents to deliver the right answer at the right time with 5 best practices for empowering your call center with a multi-channel approach . 

What results should I expect and what are other companies experiencing? Take a look at the business results from Aberdeen’s multi-channel contact center report, or how Compassion UK is increasing income 30%, or how Big Fish Games improved ROI by 1404% in 18 months.

Get free access to different tools and resources for delivering the right answer at the right time by leveraging your contact center or web self- service. 

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