No matter what industry you’re in, who your audience is, or what products or services you offer: Knowledge management should be 100% at the center of your business.
Everything that happens within your organization is based on knowledge, data, and information:
- Your products and services are created and improved by the knowledge your team holds
- Your ability to effectively engage and provide value to your customers depends on your knowledge of their needs
- Your internal processes are driven by your team’s knowledge of best business and operational practices
If this knowledge didn’t exist within your organization, your business just wouldn’t be able to function.
However, the mere existence of said knowledge isn’t enough to allow your teams to function properly. Rather, knowledge must be able to flow freely throughout your organization (and to your audience) in order to be useful.
Which is where knowledge management comes in.
Knowledge Management Definition
Knowledge management is the systematic process of documenting, storing, communicating, and applying all of this knowledge to your organization’s various processes.
What is Knowledge Management Really About?
In its core, knowledge management is nothing more than finding the best way to record and share knowledge so it can easily be reused on demand to teach someone to do something.
But to understand what knowledge management is really all about, we need to understand what kind of “knowledge” exists within an organization.
Again, “knowledge” essentially refers to any information that can be used by your organization (or your audience) to operate more effectively.
Internally, knowledge refers to informational documents such as:
- Onboarding activities, processes, and goals
- Workflow and communication protocols
- HR- and personnel-related information
...and much, much more.
On the customer-facing side, knowledge refers to content created by your team to keep your audience informed, engaged, and trusting of your brand. Some key examples of such content include:
- Blog posts, articles, and deeper, often-gated content (e.g., white papers, etc.)
- Knowledge base, corporate wikis and FAQ pages
- Testimonials, case studies, and other social proof-focused content
...and, again, much more.
The goal of knowledge management is to harness this information, and channel it in a way that allows your organization—and your customers—to thrive.
Knowledge Management Benefits
We’re just going to come right out and say it:
Knowledge management is just good for business.
Rather than just leave it at that, though, we’re going to take a closer look at exactly why adopting effective knowledge management practices can lead to great things for your company.
(Note: Throughout this section, we’ll be referring to some of the tenets of KM, and alluding to the process of creating an effective KM strategy. If you’d like to jump right to these topics, feel free to scroll to the next sections before coming up here.)
Improved Team and Employee Alignment
An effective approach to knowledge management keeps your organization aligned in two key ways:
On a more surface level, KM systematizes communication and collaboration between all team members. This makes it easier for teams to stay on the same page while completing tasks—ensuring hand-offs go smoothly, and redundancies are kept to a minimum.
KM also allows your individual employees to truly understand how their efforts help the organization reach its overarching goals. As TinyPulse recently reported, this ability to recognize their value to their organization actually leads employees to become more engaged in their duties—and more dedicated to creating success for their company.
On both levels, proper knowledge management enables all team members to continue working toward a common goal. When aligned toward a common goal, it becomes much easier to...
Increase Team Productivity
A 2017 survey by TSIA found that over 70% of organizations believe improving their KM-related efforts will increase their overall productivity.
And why wouldn’t they?
Knowledge management ensures that your employees can:
- Access documentation detailing best practices and step-by-step instruction for certain tasks and processes
- Communicate and collaborate with one another in real-time
- Use any available tools and technology to more efficiently reach their goals
Without proper knowledge management, your team members can easily lose sight of where they want to be headed (and may not know how to get there when they figure it out). But, with KM acting as both a compass and a roadmap for your employees, your team will always know which way they should be going—and the best way to get there.
Retain Knowledge Within Your Organization
When a valued employee retires or moves on from your company, they tend to leave a pretty big hole within the organization.
First of all, the loss of an employee causes a gap in your organization’s workflows and overall productivity. And, even when you do bring a new hire onboard, they’re still not likely to reach the productivity levels of your former employee for at least a year—and maybe more. Finally—and perhaps worst of all—you lose the tacit, intangible knowledge your former employee had accumulated throughout their tenure with your company.
While these problems will always exist on some level when losing an employee, effective knowledge management can help minimize the damage they do to your business.
With regard to workflow gaps, your team will have access to all documentation related to the empty position. With this clear insight into the duties and best practices of the position, your team will be better equipped to fill any workflow gaps left by the previous employee.
KM also aides the process of employee onboarding, as it ensures new hires have everything they need to start being productive from Day One. With proper knowledge management processes in place, your new employees should always know their next steps.
Finally, while true tacit knowledge is almost impossible to document, it is possible to document it “in action.” Demonstration videos, creatives portfolios, and other such artifacts created by your previous employees all hold intangible knowledge that can only be understood when seen. Since you’ll no longer have access to their actual knowledge (i.e., their brains and their talents), having their previous work is the next best thing.
Provide Added Value and Enhance Your Customer Experience
An effective approach to knowledge management also benefits your customers—in two key ways.
For one thing, management of customer-facing knowledge involves creating and delivering content for self-service purposes. This allows them to navigate the use of your products or services (complete with any troubles they may face along the way) without needing to reach out to your team for assistance.
(As we’ve discussed before, offering such a self-directed experience is key to improving customer satisfaction.)
Additionally, since KM provides your internal service and support teams access to a robust collection of knowledge, they’ll be much better equipped to handle customer inquiries as they come in. Needless to say, the less friction your customers face during these engagements, the happier they’ll be.
It’s also worth noting that these two benefits actually go hand-in-hand, in a way:
Because your customers can solve smaller issues on their own, your team will likely experience fewer support tickets for said issues. In turn, they’ll have more time and energy to invest in solving the larger problems that do require a more hands-on approach on their end.
In any case, it’s your customers who ultimately end up benefiting from your KM-related efforts.
Continual Growth Based on Knowledge
Take a quick look at the following graphs from the TSIA report we mentioned earlier:
See any common threads?
Basically, the more knowledge-focused your organization, the more focused on growth your team will inherently be.
More than just using their collected knowledge in various ways, KM-focused teams also continually look to improve the knowledge they hold, as well. Since they’re essentially always learning something new—and figuring out how to apply it to their duties—your KM-focused team will only continue to grow as time goes on.
Four Key Tenets of Knowledge Management
Proper knowledge management is guided by four overarching principles.
In following these principles of knowledge management, it will become much easier for your team to accomplish the goals you’ve set for your KM initiatives.
Let’s take a look at what these four tenets are, and what they entail.
As we said earlier on, knowledge management is a systematic process to be undertaken by your organization.
It’s not something to be done when it’s convenient, or when you’re reminded of how important it is. In order for your knowledge management initiative to be successful, it must be approached intentionally.
This means developing KM-related processes, procedures, and protocols for your team to follow.
It means injecting these KM-related processes into your employees’ duties.
And it means tying your employees’ (and organization’s) KM-related efforts into their overall performance reviews in a standardized manner.
If you’re not quite at this point yet, don’t worry; even top-performing organizations struggle with intentionality:
Still, in the interest of keeping your KM-related initiatives headed to your true north, your efforts must be intentional from the get-go.
(Note: We’ll talk more about how to create a comprehensive and intentional knowledge management strategy in the next section.)
The entire point of knowledge management is to ensure that all pertinent knowledge is available to all stakeholders, in the most convenient and/or efficient way possible.
As we discuss in our article on knowledge management systems, knowledge can be presented in a variety of formats, on a variety of platforms.
Within these various content “types,” the relevant knowledge should be presented in a way that most effectively allows the user to consume said knowledge.
While creating a robust text-based library of knowledge is a good start, creating multimedia content can put your organization way ahead of your competition in this regard:
Additionally, you need to ensure your knowledge is accessible to the user regardless of the device they’re using. Again, this is where many organizations fall short:
It just makes sense:
If your knowledge isn’t easily accessible by the people who need it most, it’s not going to be of any use to them.
Make it easy for your users to access your vast collection of knowledge on their terms, and you’ll make it even easier for them to accomplish their goals.
Collaboration and Cohesiveness
Earlier, we talked about how introducing knowledge management into your organization can help maintain and enhance alignment throughout your organization.
This alignment must at least be somewhat in place before you try to get your KM-related initiatives off the ground.
This goes back to intentionality: If not all members of your organization are on board with the new initiative, there’s no chance of it being as effective as it can be.
All this being said, it’s essential that each of your team members:
- Regularly contributes to your organization’s collective knowledge
- Knows how to utilize this collective knowledge to enhance their own performance abilities
The goal, here, is to eventually make KM-related collaboration an organic part of your teams’ processes—rather than something done in isolation when directed to do so. In facilitating this cohesiveness from the start of your new initiative, you’ll better enable your team to become even more collaborative as time goes on.
The final overarching principle of knowledge management we’ll be discussing is the idea of continual improvement.
Knowledge management is an ongoing process that should never be considered “complete.”
There will always be more for your team to learn. Your organization will always encounter new experiences—both good and bad. Your audience, competition, and industry will always be evolving in some way.
Each new piece of information that trickles through your organization provides an opportunity for growth. Knowledge management is about ensuring your team takes full advantage of these opportunities not just as they come to them—but as they actively work to discover them, as well.
Developing an Effective Knowledge Management Strategy
With the aforementioned tenets of KM in mind, let’s now break down all that goes into creating an effective knowledge management strategy.
Define Your Focus
This first step is pretty straightforward, and can be done by answering a single question:
Who are you creating your knowledge for?
You might be aiming to create a comprehensive database of knowledge for your internal teams to pull from as they go about their duties.
Or, you may want to create a customer-facing knowledge management system that allows your audience to quickly find the information they need to accomplish their goals.
(Or, you may be looking to accomplish both of these goals simultaneously.)
Moreover, you also want to define your rationale for undertaking such an intensive initiative in the first place.
Now’s the time to get super-specific. While we’ve established the more general benefits to be gleaned from proper knowledge management, you’ll want to have clearly-defined goals for your use of KM—tied to granular KPIs to assess your efforts over time.
Though KM is an ongoing process with no “end” goal, you definitely need to set milestone markers to strive for along the way. In turn, you’ll be in a much better position to make continual improvements to your KM initiatives moving forward.
Define Involved Parties and Their Roles
We’ve talked about the idea that everyone on your team should contribute to your KM initiatives in some way or another.
Here’s where you determine how, exactly, each of your team members will do so.
For each of your knowledge management initiatives, you’ll want to assign certain roles to specific individuals. These roles can include:
- Project Managers, who oversee the specific initiative at hand
- Knowledge Finders, who actively search for the necessary data and information
- Knowledge Communicators, who synthesize this information into usable knowledge
- Knowledge Creators, who document the collected knowledge in a way that allows for maximum accessibility
Now, these roles are not meant to be set in stone—especially if you don’t yet have the capacity to hire a dedicated KM team. Rather, these roles should shift with each initiative you pursue, as each may involve different departments and team members to varying degrees.
Again, the goal is to get each of your team members involved in your KM efforts in various ways. The more fluid and flexible your roles are, the more likely you’ll be to achieve these goals.
Define the Tools and Technology to Be Used
The advent of modern technology has completely revolutionized the concept of knowledge management altogether.
That said, you definitely want to take full advantage of the tools and technology that can enable your KM-related initiatives to succeed.
First things first, you need to have a comprehensive knowledge management system—or knowledge base—at the ready. A searchable knowledge base is the backbone of your knowledge management processes.
Your knowledge base (KB) is where all of your organization’s knowledge can be found.
As we’ve mentioned, KBs can be created for a variety of purposes.
For example, industrial automation giant Yokogawa developed a KB to be used internally by over 10,000 employees. This allowed employees to capture and share “tribal knowledge” throughout the organization—leading to enhanced productivity and efficiency across the board.
Organizations can also use knowledge bases to provide self-service and automated support options to their customers. RMS Cloud did just that—and eliminated up to 75% of its support requests in the process.
By today’s standards, knowledge bases need to allow for:
- Navigability via search functionality and content categorization
- Internal communication and collaboration
- Analytics and optimization (i.e., Lessons Learned)
Once you’ve decided on the knowledge base software that best fits your needs, you’ll also want to look into using tools to complement your efforts.
For example, you might want to consider using separate tools for:
- Project Management
- Project-Centered Communication
- Content Creation and Collaboration
By integrating these tools with your KB software, you’ll quickly be able to optimize your knowledge management efforts.
Once you have the structures in set allowing your team to create knowledge, it’s time to let them do so.This process, itself, is worth taking a closer look at.
The first step toward creating knowledge is to find as much relevant data as you can on the topic in question.
This can come from a number of sources, such as:
- Internal data collected over time
- Third-party reports on your industry
- Consumer-generated content or feedback
At this point, the focus is just on collecting the necessary data to be analyzed at a later time. For that reason, it’s best to be more broad in how you go about collecting said data.
Now, you’ll take your collected data and prepare it in an orderly fashion.
The way you go about doing so will depend on your overall purposes. For example, you may need to:
- Separate positive and negative customer reviews
- Rank data by a given metric
- Create a data hierarchy of some sort
Basically, the goal is to organize the data you’ve collected in a way that makes its meaning crystal clear.
Up until now, the data has existed in a vacuum, without context.
The goal, at this stage, is to establish this context.
(This will allow you to extract even more knowledge from the data during a later step.)
At this point, you need to still be objective in your assessment: As you summarize your findings, do so in the most literal sense possible.
Once you’ve documented your findings in an understandable and digestible manner, you can start to dig a bit deeper.
Now you’ll start thinking about what the information tells you—and why it’s worth listening.
Some questions to ask at this stage include:
- What trends appear as you organize the information in different ways?
- What changes—internal or external—may have contributed to these trends?
- What correlations between data points can be drawn that you might have previously overlooked?
As you may notice, your previously-isolated information is becoming more and more contextualized throughout this process.
Which leads us to the next step:
Synthesize information into knowledge
Earlier, we mentioned that knowledge management is about harnessing knowledge.
Which is what this step is all about.
Synthesizing information into knowledge requires that you truly internalize the meaning behind your “on-paper” data, so that your organization or audience may use it in a constructive way.
Now, you’ll have a new set of questions to answer:
- How can we use the information gleaned to improve our processes?
- Who and what will be involved in making these improvements?
- How will we assess the effectiveness of our efforts?
Apply learned knowledge
Once you have a clear idea of what you need to do, the next step is to just do it.
Of course, this can be a case of “easier said than done.”
Sure, you may end up needing to make drastic changes to your processes based on the information you find. Then again, you may only need to make a few minor tweaks here and there.
At any rate, putting your knowledge into action is why you collect said knowledge in the first place. Without this step, all your efforts up to this point will be for naught.
Store knowledge for efficient retrieval and updating
One of the best things about knowledge is that it’s everlasting.
Once a piece of knowledge exists, it always will exist.
As long as you document and store it in a secure yet accessible place.
(This is why a high-quality knowledge base is a must for your KM purposes.)
More than just preserving your knowledge, you also want to ensure that credentialed stakeholders can update and otherwise edit said knowledge as necessary.
The world around your organization is constantly evolving—as should be your understanding of said world. As we’ve said, your knowledge management efforts will never be fully complete; the longer your organization exists, the more knowledge it will collect.
For this reason, this is less a “final” step than it is a call to “rinse and repeat” the process of collecting knowledge ad infinitum.
By continually adding to and improving on your organization’s knowledge, you’ll easily be able to steer your company in the right direction—leaving your less-than-knowledgeable competitors in the dust.
Using Helpjuice’s Knowledge Base As Your Internal and External Knowledge Management Tool
Helpjuice's team is totally dedicated to developing a knowledge base tool which is perfect for both internal and external knowledge management.
Our knowledge base software, which includes a content management system for writing and editing knowledge base articles, is fully customizeable, comes with Google-like search, and insightful analytics. These features make sharing, managing, and transferring knowledge easy for the end users as well as for the content contributors of your knowledge base.
For more information about Helpjuice's knowledge base features, you might want to check this article: Under the Hood: Meet the Brand New Helpjuice V4 Dashboard! or sign up for a free demo.