Are you ready to maximize your translation budget with full-spectrum translation services designed to meet your company’s specific needs? Translation is not a one-size-fits-all process. Consider the various tools required for different types of communication. For phone conversations in different languages, on-demand interpreting is essential to facilitate understanding with clients, while printed product information must include detailed instructions encompassing technical expertise and linguistic aptitude. Overall, your translation budget works best in partnership with translation experts that know how to use the right tools for the right tasks.
Increased Translation Budgets Help Your Bottom Line
Research shows that when businesses increase their translation budget, they are 1.5 times more likely to increase total revenue than companies with a stagnate translation budget.1 When businesses look at translation as an investment instead of an expense, they find that translation begins to drive revenue, improve customer service, create a strong brand image, and increase market share.1 All of these benefits add to your return on investment (ROI).
In fact, when a company expands the amount of content produced from one year to the next, profit growth is 2.5 times more likely.1 However, effective content through quality translation is critical to realize these growths of revenue and profit. The bottom line is your decision to invest in professional and strategic content translation helps your overall business performance. Translation pays for itself with the growth of market share and revenue.
Quality Translation Leads to Positive Results
Return on investment is more than just direct budget dollar comparisons. Research demonstrates a direct link between increased revenue and translation budgets, but translations offer even greater benefits. Non-quantitative results often produce the greatest impact. For example, customer goodwill and brand loyalty are valuable, right?
As globalization expands into emerging markets, especially within the life sciences industry, proper translation builds trust and brand consistency. A failure to communicate correctly, to understand the target audience’s needs and desires, and demonstrate how your brand meets those needs, damages your image and limits your reach.
The combination of on-demand, artificial intelligence (AI), and project managed human translation offers top results to realize the greatest total benefit for your project or organization. Professional translation reduces the time to release a new product effectively across all global markets. Translation comprises more than just adjusting words to different languages, it crafts specialized messaging that includes images, colors, and cultural understanding, like discussed in our previous blog. This process takes time, but results happen more quickly when managed by translation experts.
Avoid Miscommunication with Accurate and Effective Content
Miscommunication costs time and money. Plus, it hurts your return on investment, revenue, and business growth. The popular fast food restaurant Kentucky Fried Chicken, or KFC, experienced this first hand when they were expanding into a new market back in the 1980s. Their popular slogan “Finger-lickin’ good” translated to “eat your fingers” in Chinese. You can imagine how well this went over.
When considering patient safety or education, the results can be devastating for both the patient and the organization distributing the information. Check out an example of this in one of our previous blogs, How Culture Influences Technical Translation, which reviews a technical translation error that went undiscovered for a year, resulting in 47 patients receiving faulty knee replacements.
Not all translation miscommunications cause actual harm to the target audience. Poorly written content doesn’t appeal to the reader either. To meet the goal of the content, consider the local audience’s needs and culture. Details like local customs, holidays, idioms, and social norms impact the effectiveness of a message. The use of linguists and localization help improve audience engagement.
When focusing on scalability, don’t look at content in silos. Even if the individual article, product label, presentation, or social media post are accurate, all messaging tied to the organization must integrate to form a lasting and impactful brand image. When done well, translation increases market share and drives profits.
Get Ahead of the Competition
The connection between accurate content translation and ROI is clear. Nevertheless, the intent of translation also ties to its success. When organizations invest in translation to gain an edge over competitors, increased profits are 2.04 times more likely.1 Before you begin your translation project, identify and fully understand the end goal.
Organizations across the globe add new markets annually. It’s too risky to fail to communicate your message effectively and fall behind the competition. Instead, get your translation right from the start with a focus on brand image, competitiveness, and accuracy.
Regardless of your reason for investing in translation, localization and technical consideration must be part of the strategy. For research-driven industries, like medical devices, pharmaceuticals, patient education, and more, maintaining an edge on your competitors means your products and services need to reach and connect with new markets first.
Create a partnership with a trusted translation provider that understands how to use multiple tools and resources to create content and cultivate your brand image. If you are set up for success, with a solid plan to roll out new information across global markets, you will see a return on investment and stay ahead of the competition.
Invest in a Quality Translation Partnership
At Vocalink Global, we understand the intersection between content translation and ROI. We work in partnership with clients to produce the highest quality content with the best tools available. Our aim is to meet the goals for your brand within the established budget.
Our vast experience translating content of all types across hundreds of languages uniquely positions us to provide excellent customer service, innovative technical solutions, and effective communication. Contact us to discuss what you need to communicate clearly in any language. CSA Research, “Fortune 500 Companies that Invest in Translation Report Higher Revenue.” 2018.