1% to 4%. This is the average percentage of the marketing budget that firms like yours spend on translation and localization services. But why are businesses so interested in spending their already thinning marketing resources on localization?
Businesses that neglect localization risk not just missing out on new markets, but facing outright rejection by international customers, or even legal issues due to poor translations. It’s a gamble no business can afford.
The data speaks for itself. A recent study by Unbabel, the Global Multilingual CX 2021 Report, surveyed thousands of consumers across the globe. The results were clear:
- 68% of consumers would ditch a brand in favor of one offering support in their native language.
- Over 60% of US consumers are willing to pay more for products or services with a localized customer experience.
Think about it: a small investment in translation can turn frustrated foreign customers into loyal brand advocates, all while protecting your brand from costly legal troubles.
So, how can you maximize your ROI when it comes to translation services? Let’s find out!
How Using Translation Services Can Boost a Company’s Bottom Line
You have to agree that the opportunities for global business have expanded in recent years. In January 2024, Google still had a 91.47% share of the global share market across all devices. However, more than 73% of customers prefer to shop on websites that list prices in their own currency. If you look at the business growth and earning potential of the world’s best businesses, you will notice that they have expanded their reach by localizing their websites in the markets that they serve. What is even more appealing is that they have made efforts to look at the purchasing behavior of the consumers in these countries. Identifying the demographics and psychographics of these buyers gives them a better chance of getting these populations to engage in online sales. This increases the return on investment and improves their bottom line. You may be sure that translation agencies have played a key role in getting their business to expand in various regions of the world.
It Can Help Businesses Expand their Market Reach
You have to invest in translation services if you want to expand your business and make it a global entity. You must take care to get all the content of your website translated into the local language if you want potential customers and followers to buy your products. You will have to hire the services of a multilingual SEO expert. They will help you determine the keywords that can drive potential customers to your websites. Even having the best content will not make a difference if your sites are not searchable in the local language. You must have your search terms and online content converted into the local language to make it easy for customers to understand the products and services you provide. Good translation and SEO services will help localize your content and bring more customers to your business by improving sales with translation.
It Enables Connecting with People from Different Cultures
Hiring the service of a good translation agency does more than just expand your market reach. It gives you a chance to establish a rapport and develop an understanding of people from different cultures. Translation services and ROI help increase customer engagement rates, improve communication channels, and create customer loyalty. This can increase the business ROI because it leads to higher customer retention and the possibility of long-term revenue growth. The services of translating and interpreting language can open up opportunities to create relationships on a global or international scale.
It Helps Improve Customer Loyalty
The high-quality services provided by a reputed language translation service can help you access new target customer groups. You could not reach them earlier due to language barriers. Now you can get new customers introduced to your business. This commercial expansion is enabled through good translation with a multilingual SEO impact. It will help you understand and cater to different customer needs and help your business reach an international audience. It will expand your revenues and customer base. Localization will make it easier to get more loyal and interested clients.
It Results in Better Client Satisfaction
The best outcome of a good translation service is that it has the positive effect of creating more satisfied customers. You just cannot compare the quality services of experienced human translators to that of machine translation. These automated tools are a very poor replacement for professional services. The final results could be sketchy and discordant. Relying on an established translation service will ensure accurate content that is correctly interpreted by customer-focused language solutions. High levels of satisfaction will have positive results on revenues and profitability, increasing customer engagement and boosting the rate of return on investment.
It Meets Legal and Compliance Requirements
Expanding into global markets can have its own set of challenges. You have to abide by the local laws and regulations when conducting business. There are legal and compliance needs that might differ in every region or country where you have your target market. The advantage of having an experienced language translation service by your side is that you can accurately understand these requirements and their implications for your business. The translator will ensure that all legal contracts, service, and compliance requirements are properly converted and understood by the client. This will avoid legal penalties and ensure that the company is in line with local regulations. Additionally, accurate transcripts translation for meetings and legal documents ensures compliance and clarity across all business communications.
Why Working with an Experienced Translation Company Matters
There are many advantages of working with an experienced team of language professionals instead of relying on the efforts of amateur translators or automated programs to accomplish this task. You cannot afford to make mistakes while undertaking this initiative since you only get one chance to impress your customers. Some of the benefits of using a professional translation service are explained below.
The Value of Experience
There is no substitute for experience in translation for global markets. The team at a professional translation company will be used to working on global campaigns. They don’t have to begin right from the start every time. They can bring invaluable insights into your marketing strategies as they are experienced in the process. With a profound understanding of what works in different regions, they can cut short the time it takes to develop effective digital content that will increase customer loyalty and engagement. They know the right way to appeal to these audiences by using the correct terms and being aware of their psychographics.
Using the Local Expertise
Although there are clear benefits to having access to multilingual translation experts, some part of the staff of professional translation agencies will invariably consist of native speakers. These people have the ability to communicate using the local lingo so that it is picked up and understood in the right context. Local expertise means that they can identify errors that others would overlook. This helps get it right the first time and prevents mistakes concerning cultural sensitivity. The dedicated team of translators, linguists, and graphic designers will ensure the best overall results for your online presence.
Creating Efficient Workflows
A good translation agency can help take the pressure off the multilingual experts and managers. Translation agencies not only understand the need for excellent language conversion- but can also involve themselves at any stage of the localization process. When you have a team of experienced professionals, they can be invaluable in translating highly individualized and creative content. You have to be very careful when translating culturally sensitive material, like humor or poems, because what has a neutral context in one language may easily be offensive in another.
The Importance of Localization in Improving ROI
It’s no secret that expanding into other markets can be a daunting task. Businesses are often excited at the prospect of entering into new regions and capturing more customers. It will maximize their ROI and increase their earning potential. Firms have to invest in translation, SEO, and localization efforts to make their efforts more successful.
Business firms rely on high-quality translations to stay relevant in a global market. Some firms are known to spend between 1 and 4 percent of their total marketing budget on translation and localization needs. Successful localization efforts mean that all aspects of a website are converted to the language that is read in a particular country or region. This includes everything from marketing and e-mail messages to legal terminology in the native tongue. It may even include currency, units of measurement, and date formats. 65% of multinational companies consider localization to be an important aspect of increasing their revenues. According to statistics collected by Unbabel in 2023, 41% of marketers are localizing SEO, while 23% of them considered translation the biggest problem when localizing content.
If you are a company that wants to go global but feels deterred by the difficulties involved in localizing your web presence across different countries, look no further. You can save a lot of time and effort if you book your order with a well-experienced language translation firm. They should have the expertise of local linguists, SEO specialists, and native speakers who can convert language and search terms to meet the needs of the target market.
Conclusion
Companies can maximize their ROI by using translation services to localize SEO searches and web content. It is a challenging task that has to be done if you want to increase your online presence and sales across different regions. Why don’t you take a step forward and contact TranslateSwift to take care of all your translation and localization needs? We have the expertise and experience to translate your digital content and make sure that it’s culturally appropriate too.
FAQs – Maximizing ROI with Translation Services
- How can translation services help companies expand their business?
Translation firms can help companies expand their business by translating website content correctly, using multilingual SEO experts to find relevant search terms, and incorporating culturally appropriate language.
- Why is quality and consistency important for good translation?
Translation firms must ensure quality in all their translated content. When the quality is consistent, it creates a positive and professional image both for the translation company and the client for which the work has been done.
- What is the need for legal and regulatory compliance?
Expanding in foreign markets requires businesses to comply with legal and compliance regulations. Accurate translations mean that legal and financial liabilities can be avoided.
