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There are many articles online that describe how much time is lost in all aspects of business to simply searching for information. This goes all the way from staff looking for internal information, to support staff looking to assist customers, to customers who prefer to quickly find information themselves.

Everyone knows how search engines have changed the world over the past several years, however many organizations have still not fully embraced Knowledge Management.

Here are some key reasons why you should consider adopting a Knowledge Management solution

Saved Time & Costs

Support staff constantly reacting to customer queries and then searching for relevant information to craft meaningful responses takes time. This not only costs your organization time related to those support staff direct costs, but indirect costs too, considering what lost opportunity those staff members could be working on instead of searching for information and responding to customer requests.

Reduced Customer Frustration

Customers having to wait, even a small amount of time, in order to receive answers to their questions adds to frustration and friction, lowering overall customer satisfaction and Net Promoter Scores.

Indeed PwC reports that in a survey of 15,000 consumers, 1 in 3 would leave leave a brand they love after a single bad experience, and 92% would completely abandon the company after two or three bad experiences, proving the power of customer experience and a reminder of the old saying that it takes a long time to earn trust, but very little to lose it.

Better Answers

Your support team's goal is to get answers as quickly as possible to your customers so that they can get on to other tasks or assist other customers. This inherently means not spending too much time crafting responses.

If answers were available to your support team easily, and could be included as reference links in emails, then complete, verbose and meaningful answers can be provided every time. Also, providing this content to customers so that they can access it themselves, saves time and friction altogether, as well as giving customers better answers.

A good approach to building up your knowledge base is to task your support team to write up articles covering the most commonly asked questions, so that these can be used frequently. See our How to Begin a Knowledge Base article for more details about this.

The ultimate goal should be to provide exceptional context-specific answers and information about all inquires, whether from an internal team, support, pre-sales or a marketing perspective.

Competitive Advantage

To remain competitive, today's companies need to leverage knowledge management as integral to their overall competitive advantage.

By reducing costs, improving response time and allowing customers to self-serve when looking for answers, these all add up to a very powerful competitive advantage with a distinct return on investment over a very short time period.

The biggest cost in setting up a knowledge management system is recording the information, which is something all companies should be doing anyway. Given that GoGoWorx offers flexible account types to address all types and sizes of business needs, with a user interface that is simple and intuitive, there really is no reason not to take advantage of this service, although we're admittedly a little biased.

Research some of these points yourself and think about what sort of ROI you would get from using the GoGoWorx service.