Portfolio Company Profile: KnowledgePoint Solutions



Humanising the Web Experience to Increase Sales
By James Peck, Contributing Editor

According to a recent article by the Sunday Times, nobody shops on line like the Brits. Last November, UK online shoppers spent an impressive £1 billion in a month – considering in 2001 the total online spend was £1.8 billion, this is no mean feat.

Yet, despite the popularity of online shopping, navigating a website can still be an arduous experience. Even in the best designed sites, it can be difficult to find exactly the information you need when you want it; and when you can’t find it, most website only offer you the option of emailing a helpdesk.  For companies that use their websites to drive sales, this can make the difference between a completed purchase and an aborted attempt – and, perhaps more importantly, can have a negative impact on that customer’s relationship with the brand.  Users often get so frustrated and confused with their online shopping experience that they leave the site altogether, never to return.

It is to avoid this “abandoned shopping cart” syndrome that a company called KnowledgePoint Solutions has created a service to provide real-time live chat support for website users. Support can be activated either on request by the user or automatically, after a pre-determined time spent browsing the site. The user can then have access to a real-time “sales assistant” through a chat window.  The sales assistant can actually push the user through to particular web pages in order to deliver an easy and more personal shopping experience.  They can also offer very specific advice to the user, whether this be recommending a birthday present or suggesting a shirt to go with that new jacket you’ve just bought!

“Getting a customer emotionally attracted to the website is the key” says Amrita Ghosh, Director of KnowledgePoint, “this is a definite step towards creating a more ‘lifelike’ experience of shopping on the Web”. However, Ghosh is quick to point out that for all its effectiveness live chat alone will not signal the end of the ‘abandoned shopping cart ‘syndrome, and this is why KnowledgePoint also recommends coupling live chat with careful usage analysis and selective marketing.  

“A high quality service leads to expanding relationships. To support this, we offer important analysis tools such as competitor screening and analysis, developing inside sales leads, developing and implementing an affiliate marketing campaign, and managing an online advertising program,” says David Arnold, KnowledgePoint CEO. Clients work with KnowledgePoint to find those parts of their business where the immediacy and personalization of live chat can provide maximum ROI and customer satisfaction.

Over seven years’ experience in call center management and operations, combined with over 20 years of Sales, Marketing and Management experience, makes KnowledgePoint ready to play a major role in this market.  The Company is based in Bangalore, India and launched its service in mid-May 2002. The live chat support team, all university graduates, is trained carefully for each client, so that they are as familiar with the product offering as a member of the client organisation.  Using an off-shore model allows KnowledgePoint to keep costs low while maintaining a high level of service.

KnowledgePoint received funding in 2001 from eFund LLC, an investment partnership focused on early-stage investments in communications and Internet companies.

Ariadne Capital is advising KnowledgePoint in the development of the Company's sales strategy in the UK and its focus on key vertical sectors. KnowledgePoint has been working in the UK online retail sector and is currently branching out into the financial services and e-procurement sectors.

Ariadne Capital is actively involved in sales development and identification of strategic partners. Parties interested in learning more about how KnowledgePoint Solutions can help them increase conversion rates should contact: kate@ariadnecapital.com for a free demo.