MindTouch, a leading provider of enterprise-grade, AI-powered knowledge management solutions, has made available a copy of the recent Gartner report titled, Delivering Relevant Content and Knowledge to Customers Is Key to Great Customer Service.1
According to Gartner, “The rapid creation and retrieval of relevant content and knowledge are key attributes of leading enterprises.” The report shares seven best practices to help organizations “drive improvement in content and knowledge delivery for their customers,” according to Gartner.
“We’re excited about this report because we think these best practices align with our commitment to outside-in, customer-first design thinking,” said Aaron Rice, CEO for MindTouch. “What many companies are finally realizing is that the most important thing to customers is not their product—it’s the experience of patronage and ownership that drives satisfaction. We designed our knowledge management platform to deliver that kind of experience so companies can increase customer lifetime value, which gives them a major competitive advantage.”
Among the seven best practices cited in the report is knowledge base consolidation. According to Gartner, “We estimate that enterprises that undertake enterprise-wide knowledge consolidation projects can lower knowledge management application maintenance costs by 15 to 40 percent.”
“Consolidating knowledge bases is certainly a step in the right direction for both cost savings and providing a ‘single point of truth’ when serving up content,” Rice said. “But when it comes to realizing the full value of knowledge management, consolidation is just the first step that lays the foundation for serving up content externally for self-service.”
According to Gartner, “By 2022, 85 percent of customer service interactions will start with self-service, up from 48 percent in 2019.”
“One of the most important features our platform offers is the ability to optimize content for Google,” Rice said. “After using our platform to extend knowledge for Google searches, many of our clients have seen increases of up to double and even triple their organic website traffic. This has helped them reduce customer effort and improve engagement. Many have also seen reductions in costs due to Google-originated inquiries getting funneled to self-service support sites resulting in case deflections.”
Another best practice cited in the report is content contextualization. According to Gartner, “Personalization is now a strategic imperative. It has evolved from a ‘nice to have’ to a ‘need to have.’ Personalization can be achieved with the help of dedicated, ‘stand-alone’ engines or as part of your overall digital experience platform. Personalized, relevant and contextual information can save lots of time for customers. Customers also expect organizations to know them and communications to be tailored to their specific context.”
The report goes on to say that, “Improved delivery of contextual knowledge to an employee or customer reduces a provider’s time to answer by 20 to 80 percent, raising competency and satisfaction.”
Buoyed by self-service initiatives, digital transformation efforts, and AI-driven projects such as chatbots and virtual assistants, knowledge management is becoming an increasing priority for organizations across the board. An emphasis on knowledge management is also a hallmark of companies that rank high in customer experience maturity.
As recently reported by Gartner in its Survey Analysis: Customer Experience Maturity and Investment Priorities, 2019 report, “A significantly bigger proportion of survey respondents indicating higher CX maturity expects to increase investment in knowledge management tools for CX improvement projects, compared with those at lower maturity levels.”
“Companies that rank high in customer experience understand that knowledge management is a fundamental building block of their CX investments,” Rice said. “We look forward to offering more of these companies a modern knowledge management solution that effectively extends customer lifetime value across all aspects of the customer journey, at scale, and across channels and devices, for the most personal, relevant and effortless experience possible.”
Download a complimentary copy of the full Gartner report here: https://mndt.ch/32tUdIT.
1Gartner, Delivering Relevant Content and Knowledge to Customers Is Key to Great Customer Service, Drew Kraus, Olive Huang, Gene Phifer, Jim Davies, Mick MacComascaigh, Brian Manusama, Irina Guseva, 5 December 2019.
MindTouch is a leading provider of enterprise-grade, AI-powered knowledge management solutions for mid-size to large organizations looking to increase customer lifetime value. Its knowledge management platform includes solutions for customer self-service, agent assistance and departmental knowledge. MindTouch is trusted by some of the largest global brands to dynamically serve up relevant content wherever a user’s journey starts or ends for a more consistent, personalized and effortless customer experience. MindTouch was included in Frost & Sullivan’s 2019 Companies to Watch in Customer Contact, North America report, was a winner of KMWorld’s 2019 Readers’ Choice Award, and was named by Inc. magazine one of America’s 2019 fastest growing companies. The company serves millions of users worldwide. It was founded in 2005 and is headquartered in San Diego, California. Visit MindTouch on LinkedIn, Facebook, YouTube, Twitter and the MindTouch blog.
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