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What is Digital Knowledge Management (DKM) and Basics about a DKM Platform?

At any given second, Google receives 40,000 searches per second according to Internet Live Stats.  And according to Ador Statistics, an average person conducts at-least 3-4 Google Searches per day.  In addition to a large amount of Google Searches, most people prefer to read reviews and look at pictures in Google Maps before visiting a new restaurant or store.  If you ask yourself how many times in the last week you used Google to get more information on a local business around you, be it the closing time of a restaurant or the reviews of a nearby store, then you will realize the importance of presenting accurate information about your business on the internet through a Digital Knowledge Management (DKM) Platform.

For all businesses, maintaining the information on public accessible digital platforms like Google, Yelp, Yahoo, Facebook, Instagram, Twitter, etc.  can be a time-consuming and redundant task if done manually.  Most of your consumers will prefer to look up data like your store hours, product catalog, menu, pricing information, and other details on digital platforms instead of making a phone call for a direct inquiry.  That is why managing all this public information is vital for your business growth.  In this blog, we have covered everything from basics about DKM, its benefits, and some apps that will make DKM a quick and easy task.  So without further ado let's jump right in!

Table Of Content

What is Digital Knowledge Management?

Benefits of Inculcating a Digital Knowledge Management Platform in your Small Business

Examples of Digital Knowledge Management Platforms

FAQs

Conclusion

What is Digital Knowledge Management?

In layman's terms, Digital Knowledge Management (DKM) is the creation and management of public information and facts about business on public-discoverable digital platforms.  A properly managed website listing on Google has links to the personal websites, accurate store hours, proper address and directions, and much more.  For small business owners, keeping a track of all this information along with managing everyday business operations can be very tiring.

Managing all this public information on digital platforms has become a manageable task in the last few years due to Digital Knowledge Management (DKM) platforms like Yext.  DKM platforms like Yext provides a portal that capture's your company's business data and you can view and edit all your public data on a single platform.  Designed to allow business owners to take control of their digital presence, some of the tasks that can be updated with digital knowledge management platforms are:

  • Store addresses, GPS Coordinates and directions in Maps
  • Phone numbers and e-mail addresses
  • Hours of operations on holidays or due to emergencies
  • Menu items, descriptions, and prices for restaurants
  • Product details, Inventory details, or service details for other business solutions
  • Special event details like exhibition dates, time and description
  • Professional photographs
  • Seasonal product or service details, like specials, store hours, etc.

All of this dynamic information can be managed easily with a DKM platform.  You no longer have to update all of this information manually and you are able to provide dynamic, timely, and accurate information to your customers.  You are able to respond to the reviews and comments and keep all your business information up to date with digital knowledge management platforms like Yext.  Before discussing the details about DKM apps like Yext, Helpjuice, etc.  lets first look at the benefits to your business by using a digital Knowledge Management Platform

Benefits of Inculcating a Digital Knowledge Management Platform in your Small Business

1. More accurate information available to your customers

The foremost advantage of using a Digital Knowledge management platform is that all public information about your business across search engines is accurate and up to date.  When your customers look up information about your company they are able to get the correct address, hours of operations, product details, and service information.  Due to the accuracy of the information, your business is perceived as more authentic and professional.

2. Increase number of customers

The next big advantage of using a DKM is that you get more customers.  If your digital presence is poorly maintained across the digital social media platforms and search engines, then fewer customers will be gained through maps apps like Apple Maps, Google Maps, etc.  When your customers do a local search for a product or service on search engines and if you have not added all relevant information across the digital platforms, then you won't gain any traffic.  But if you keep your digital presence visible and up to date, then you can gain more customers and grow your business.

3. More time spent on business operations

A lot of local stores get phone calls inquiring about business hours on a particular day, if a particular menu item is vegan or not, or inquiries about the least busy hours of the day.  Answering all of these questions can be a big waste of paid time of your employees, and a time-consuming task as well.  A lot of times if you are not able to answer the phone on time, you will likely lose a customer.  Thus, by providing all accurate and frequently asked information across the digital platform, you see both your and your customer's time.

4. Present a professional image in search engines

For businesses that have a lot of local competition, getting an edge over other businesses is vital.  Sometimes to be a bit different, you do not need to offer sales or new products but provide a more professional image to your customers.  In this age of technology, most customers use maps apps to check hours of operations, traffic details, reviews, etc.  While looking for this information of they notice you answering to your reviews and comments, uploading regular images, latest contact information, etc.  then they trust your company more.  in addition to this, relevant and updated information is proved to increase the number of times your business is suggested by search engines.

5. Higher customer satisfaction

With proper digital knowledge administration, the number of times your customers show up to your store and get to the wrong address, or show up when you are closed is drastically reduced.  Since almost everyone looks up the address or store hours on maps apps, if you have proper GPS coordinated for your business and accurate hours of operations, then your customers are happy since they do not have to waste any time and can get the right service easily.

Examples of Digital Knowledge Management Platforms

Digital Knowledge Management Platforms

1. Yext

The best digital knowledge management app out there, Yext provides accurate, up to date answers to the whole world regarding your business.  Yext increases your digital performance, captures, converts and retains more customers by providing dynamic answers.  Enterprise, Ben & Jerrys, T Mobile, Club Pilates, Marriot, etc all trust Yext to manage their digital presence.  Yext is one of the few apps that help companies manage their digital knowledge in the age of search engines, voice assistants, and maps apps.

Yext lets you maintain all public information, provide accurate data, answer reviews, enhance customer experience, and improve organizational efficiency.  The biggest advantage of Yext is the flawless integrations it offers with search engines & voice assistants.  You can have integrations with personal voice assistants like Amazon Alexa, Google Home Mini, Google Assistant, and Siri.  Most people use the inbuilt voice assistants to look up information and, Yext has solutions to get more traffic through the search engines & voice assistants.  Yext is ideal for businesses that have a B2C model of operation, with your customers coming frequently coming to your store location to get a product or service.

2. Helpjuice

A Knowledge Base software, Helpjuice is a complete knowledge management solution that helps you give a better customer experience, and communicate effectively with your team as well.  Ideal for businesses that have multiple locations and employees working in multiple shifts.  Some of its customers include Amazon, WHO, Virgin Mobile, Shipt, etc.

Helpjuice lets you scale customer support through a self-service Knowledge Base, and improve the communication and knowledge sharing amongst your employees through an internal Knowledge Base.  It offers google-like search both for your customers and your employees and is extremely simple to use.  You have to spend very limited resources on customer support, and if your customers have any questions they can find the answers themselves through a search on your FAQ page.  The downside of this app is that unlike Yext it does not allow you to maintain your Google Maps information, and you have to register as.  a business owner and do the changes manually.

3. Bloomfire

Like Helpjuice, Bloomfire is a knowledge sharing solution that provides a customer and organizational module to manage the information you share with your customers and improve the sharing of information amongst your employees.  Since knowledge is your organization's biggest strategic advantage, Bloomfire makes sure your employees and your customers have access to the right information at all times to achieve maximum organizational efficiency.

Some of its customers are Capital One, Jackson Hewitt Tax Services, Southwest, Orvis, etc.  A KMS platform, Bloomfore allows you to take the guesswork out of your organization and make faster and more informed decisions.  It allows you to get more organization-wide engagement, get market insights,  and provide more efficient customer support.  With AI features, this is a perfect KMS platform that offers a customer service module as well.

These are the 3 apps that are trusted by so many businesses to provide more accurate information to the general public, and more specifically your customers.  Yext is a complete DKM platform, and Helpjuice and Bloomfire are KMS platforms with a public information module.  Depending on the type of business structure, you can select the right app for your organization.

FAQs:

1. Why is it important for organizations to manage their digital presence?

Answer: In this age of technology, for most businesses, 95% of its customers look up information regarding the business before coming to your location. This online search may be for the address, menu, reviews, hours of operation, or practically anything else. If the information on digital platforms is accurate, you will get more customers, and provide a better service to those customers.

2. Which is the best DKM application?

Answer: yext is considered the best application for digital KM practices. Due to the extensive features and services provided by Yext, thousands of companies use Yext to manage their public information across search engines. Yext allows you to manage the information across all search engines from one central place and improves the quality and timeliness of the information provided to your customers. Yext has webinars and blogs that help companies increase traffic which is very insightful.

3. Do I need an app to manage the information on public forums and sites?

Answer: You do not need an app to manage your public information. If you have a small local business company, and most fo your customers use Google Maps to get information regarding your company, then you can register yourself as a business owner in Google Maps. Then you need to manually manage all information, answer to reviews, upload photos, add hours of operations, etc. But any of this changes frequently, or your business is relatively larger then investing in a DKM software like Yext is a sound choice.

Conclusion

We hope that we have answered all the questions you had in mind regarding digital KM.  DKM is quite crucial for businesses that want to grow, and provide better services to its customers.  By investing in a DKM application, small business owners can focus their energy on growing the company and other business admin tasks.  If you have any more questions in mind or want to get in touch with up, please feel free to contact us and share your thoughts.

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