As the world economy groans under the strain of the pandemic, businesses are looking to flex everything from their delivery models and products to the way that they engage with customers. Companies looking to get ahead of the competition often like to jump on the latest business news and trends. However, sometimes it takes more than one language to harness these to their full potential. In that spirit, we’ve explored three business trends that you need to use a translation company to take advantage of.
Using professional translation services to jump on business trends
You don’t need to use a translation company to benefit from every business trend. But if you’re selling goods or services to customers overseas, then professional translation services might be just the thing to deliver smoother interactions, increased customer satisfaction, and greater return on investment (ROI). Ofer Tirosh, CEO of translation company Tomedes, points out:
“The majority of people prefer to make purchases in their native language, so if you’re selling to international audiences, you need to communicate with them in their own tongues. But that’s not all that a translation company can help with. Professional translation can also help with research and development, production, customer service and so much more, all while helping you to keep up with the latest business news tips.”
With this in mind, let’s take a look at video marketing, social commerce, and overseas manufacturing – three business trends that companies can’t afford to ignore if they want to compete in modern marketplaces.
Video marketing
Video marketing to international audiences is an excellent way to grow your brand’s reach. Companies around the world have embraced its potential, with 92% of marketers in 2020 saying that video forms an important part of their strategy (up from 78% five years previously).
The meteoric rise of video marketing is rooted in a number of factors, including shifting consumer sentiment and increased connectivity. When you buy a product these days, do you watch a demo video before you buy it? Plenty of consumers do, with the result that 88% of marketers now state that video provides them with a positive ROI. That figure stood at just 33% back in 2015.
When it comes to ROI, translation is the icing on the cake. It usually costs significantly less to translate a video into another language than it does to reshoot it in that language. A translation company with video experience will be able to transcribe the content of your video efficiently and translate it into one or more languages, ready for you to use to engage consumers in other territories. Each time you translate the video, the greater the potential return on your initial investment in producing it.
Social commerce
The other big piece of business news from recent years when it comes to digital trends is the rise of social commerce. Have you noticed an increasing number of ads on your social media feeds of late that promote or sell products and services? This is social commerce and it’s very lucrative. The income from social commerce globally in 2020 is anticipated to be $90 billion.
Social commerce isn’t measured simply by how many consumers click your link and go on to make a purchase. Those who like, retweet, share, comment, and otherwise interact with your content are all contributing to your marketing ROI. They are raising the profile of your brand and helping spread the word across the digital landscape.
And this is where you need a translation company. That digital landscape is global, not local, so word of your brand can quickly spread. But relying on social networks’ automated translation systems to share news of your products or services isn’t the best idea. Human translation delivers superior quality than machine translation, so if you want to harness the true power of global social commerce, you’ll need a translation company to help you do so.
Overseas manufacturing
Our business news tips and trends wouldn’t be complete without a word on overseas manufacturing. Many countries market themselves as having specialist manufacturing expertise. Using their skills and facilities can allow you to produce your goods at a lower cost, thus increasing your profits.
Of course, it’s perfectly possible to manufacture goods overseas while conducting the entire arrangement in your own language, but you could be missing a trick if you do so. Using a translation company to aid your communication shows that you are serious about the endeavor and won’t let language barriers get in the way of a good deal. It shows respect for those you’re negotiating with and might just tip the price a little more in your favor.
Having a translation company on board also provides a degree of reassurance when it comes to signing manufacturing contracts and agreements. No matter which language they are in, you can ensure that you are happy with the legal-speak and that nothing is overlooked.
As we say, you don’t need a translation company to jump on the overseas manufacturing trend but having one by your side can make a big difference to the process.
Harnessing the power of business trends
Which will be the latest news business clients race to take advantage of after these three trends? If they involve international audiences, then chances are using a translation company will result in a more efficient process and greater return on investment.
