Show Value via ROI
In addition to generating revenue, the value of knowledge includes ROI by way of cost savings. If your organization leverages MindTouch to provide make content available to customers and agents, you have ROI opportunity for onboarding, contact center efficiency, ticket deflection, and self-service.
When you follow deployment guidelines recommended by MindTouch, your organization can derive significant value from the help content that is already produced. Leverage a knowledge management implementation for both external customers and internal users across your use cases and user stories can drive many organizational improvements and will contribute to increasing the total life time value of the customer.
Provide solutions to customer questions before they ask them by providing knowledge in a platform accessible in the channels your customers use.
- Reduce unnecessary agent interactions
- Improve customer loyalty by reducing customer effort
Estimate the impact of implementing knowledge across multiple channels by the amount of tickets submitted and users visiting your content.
- Self-Service Ratio = Total sessions / total tickets
- Example: for every 6 sessions 1 ticket is created
- Example ratio: 6:1
Use sessions instead of users or page views because sessions better indicate an instance of a user needing help. Calculating with users doesn't account for multiple tickets or issues encountered by that user. Calculating by page views over-inflates the ratio and doesn't represent a single issue.
For a more accurate calculation, remove sessions for users who did not stay on the site for at least 30 seconds and only count tickets that were filed after the user tried to self-serve on the MindTouch site.
- Cost per ticket (for example, $5.00)
- Number of website sessions for 1 year by month
- Number of tickets submitted for 1 year by month
- Average ticket growth over the last year
- Average website session growth over the last year
- Average website sessions submitting a ticket
- Estimated savings for the last 12 months
- Projected savings for the next 12 months
Action Item: Contact your Customer Success Manager for expert guidance to calculate self-service savings for your content ecosystem.
Proactively solve issues with contextual help on your ticket submission form made possible by a knowledge management platform.
- Display relevant content based on the information the customer provides
- De-escalate or redirect customers to the best recommendation for their question
The economic impact of implementing contextual help on a ticket submission form includes percent of visitors that submit tickets and time spent per case.
Ticket deflection implementation strategy: If your goal is to reduce incoming support tickets by 10%, examine the type of tickets that come in most frequently and develop content to address those questions. Content developed specifically for customer self-service to answer top questions is referred to as Cornerstone Content.
Onboarding Cost Savings
Save costs with self-service onboarding automation made possible by a knowledge management platform.
- How much is it costing you to onboard new agents every month?
- What if you could reduce a portion of those costs through automation?
Consider the economic impact of automating onboarding with on-demand guided learning paths. Variables include number of hours a new agent spends onboarding, number of new agents per month or year, and hourly rate per agent.
Customer example of onboarding ROI: A MindTouch customer calculated ROI based on just Agent training. Agents use a self-service model to learn on their own outside of classroom time, which eliminated 40 hours per month of training time.
- 40 hours x $13 per hour x 35 trainees x 12 months = $218,400.00 annual savings
Contact Center Efficiency
Reduce contact center costs by enabling knowledge-powered customer self-service with a knowledge management platform.
- Improve agent efficiency
- Reduce call volume
Economic impact of self-service in the contact center includes cost per assisted service interaction and number of interactions per day or week.
Action Item: Assess the value of an elevated self-service experience.