(Newswire.net — August 5, 2020) —
** This article is updated regularly. It was last updated in December 2021 **
The Covid-19 pandemic triggered economic chaos around the globe. As the world slowly adapts to deal with the financial fallout, you may be wondering how to raise revenue and recover from losses incurred due to the pandemic. Even if you are already on the right path and making slow progress, you may find yourself wondering how to communicate effectively and efficiently in order to boost your financial performance.
Reaching out to global businesses may sometimes be hindered by the lack of a language knowledge base. You can’t very well know the 7,139 languages used around the world, nor even all of the 10 most spoken languages. However, with the combination of technology and skilled linguists at your fingertips, there are plenty of ways around this dilemma.
Let me introduce you to the language services industry. With the widespread availability of language service providers, it’s now easier than ever for businesses to show their offerings to the world. But what is the point of doing so? How can using language services benefit your business in 2022? Read on to find out.
Number One: Use Translation Services to Win Customers and Raise Revenue
If you want your business to become global, you have several options before you. You could choose a freelancer from Upwork or Fiverr to work on a budget-friendly part-time basis, or opt to use a professional company, which could deliver fast results to support your growth.
One of the main reasons that companies turn to these translation services is to increase their customer base. An example of how to do this is to use the business-focused translators at Tomedes translation services to devise a multilingual marketing campaign. Or to use a web-based language business such as Gengo to deliver a social media outreach strategy. These methods can help businesses reach out to international audiences and also engage domestic customers who speak other languages, translating content to help the company connect with more customers.
“Companies of all shapes and sizes no longer need to limit their ambition when it comes to where they operate,” explains Ofer Tirosh, CEO of Tomedes translation services. “Language services are easy to access, affordable, and set up to support global business growth, no matter which sector a business operates in.”
Global companies have the potential to make more revenue than those that don’t expand internationally. Going global means that you can:
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Build international brand exposure
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Branch out to other markets
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Grow international consumers
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Have increased revenue
In the simplest of terms, globalizing your business (with the services mentioned above) helps you to reach more customers, which means more income! It’s a win-win.
Number Two: Utilize Business Versatility And Expand To Global Horizons
If the COVID-19 pandemic has taught the business community anything, it’s the importance of versatility. Many businesses that weren’t able to flex their services significantly were swept away by the first wave of the pandemic during 2020. Now that we’re heading towards yet another worldwide lockdown, it’s important to work remotely in creative ways and still expand horizons.
Language services have plenty to offer here. They provide businesses with the opportunity to broaden their customer base and with it enhance their chances of survival when faced with the unexpected. The more customers you have and the broader the cross-section of society that they come from, the greater your chances of success during boom times and of survival when the economy is on the way down.
This isn’t just the case during these times. Companies that are versatile and flexible face a wide range of factors rather than those that are more rigid and narrow in their approach and outlook.
Number Three: Network with the Right People And Grow Your Business
Used in the right way, translators can connect your business with more customers and also help you to focus on connecting it with the right customers. Customers who want your products, customers who shell out because they need your product.
Let’s consider targeted advertising on social media as an example of this. Big data means that it’s possible to target very specific customer groups through sites such as Facebook these days. As such, you can work with services that specialise in translating your business messages – to craft very carefully directed adverts that take into account not just your target audience’s language but also their cultural preferences, quirks, and more.
Reaching out in such a specific way can earn you not just large numbers of likes or subscribers, but people who will actually go all the way through your marketing funnel in order to spend money on your products.
These services can then come into play once more, through the provision of customer support services and after-sales support. These can ensure that those customers have the care and attention that they need to become loyal to your brand in the longer term. Again, this can substantially increase your bottom line.
Number Four: Figure Out How To Cut Costs to Gain Profit
Is your business purely a service provider or does it actually sell goods? If it does the latter, then professional translators can be particularly useful when it comes to controlling costs.
Outsourcing manufacturing to an overseas location can lead to significant cost savings, which is why many companies with large-scale manufacturing operations do just that. In the UK and the US, for example, manufacturing accounts for 10% and 12% of GDP respectively. In South Korea and China – both common destinations for outsourced manufacturing – those figures stand at 29% and 30% of GDP.
Companies that outsource the making of their goods to other countries need to ensure that the process of doing so is a smooth one. Translation can play a key role in this, taking companies all the way through from initial outreach and partnership building to legal agreements and contracts. It can be a long process but ultimately one that can save a company a significant amount of money – hence the practice being so commonplace.
Number Five: Harness the Potential of Globalization To Access The Talent Pool
Our final example of how language services can benefit your business is our broadest point so far. Using these services in the right way can allow your business to benefit fully from globalisation.
We live in a truly global marketplace. If you speak the right language, you can order goods from around the globe to be delivered to your doorstep, with many courier companies offering international deliveries to half a world away in a matter of days.
By embracing all that these services have to offer, businesses can take advantage of globalisation in multiple ways. Would you like to sell your products to a global client base? No problem! How about building a brand with a reputation that transcends international borders? Easily done! Ok, well perhaps not easily, but it’s certainly achievable with the right marketing strategy and language services provider.
Harnessing the potential of globalisation also presents businesses with the opportunity to access a global talent pool. According to PwC’s Talent Mobility 2020 report, its annual global CEO survey found that 97% of CEOs believe that having access to the right talent is the most critical factor for their business growth.
Given the importance of finding the right talent for your business, why would you limit your search for that talent to one single country (or one language) when you could open it up so much more widely?
Global businesses have staff teams dotted around the world and many use translation services as a core part of their day-to-day operations. Why shouldn’t your business do the same?
And Finally: Help Boost the Global Economy By Concentrating On Your Own Business
We’re living through unprecedented times, with a high degree of uncertainty. As such, embracing all that translation has to offer seems like a mighty sensible approach right now. Economic survival is never guaranteed, even for the largest of companies, so each and every business needs to do all that it can in order to maximise its chances both of survival and of success.
Implementing the right services can play a fundamental role in enabling this to happen. Whether it’s by increasing customers, enhancing their loyalty, building brand reputation, reducing costs, or engaging staff from around the world, businesses stand to benefit notably from the right use of these services.
All you can do right now is maintain your own business and your own standing. Doing so will have a ripple in your community, in your country, and hopefully in the global community.