Spending On Translation? Key Factors to Measure Translation ROI
The translation is not a luxury of big business houses. Translation services are the need of the hour for every business aspiring to spread its wing beyond the local market. In this article, we will detail Key Factors to Measure Translation ROI.
It is a proven fact in various statistics that customers connect with the companies speaking their native language. In some cases, the customer is least bothered about the country of product origin if the information is in the local language.
We always discuss factors like the cost of translation, but that is an investment for any business. When we call something an investment, it is supposed to have some ROI or return on investment in quantitative terms for its evaluation. Translation services do have measurable returns, and not all returns are measurable in numbers, like customer satisfaction. Returns from the translation services have their waiting period. Whenever you pay an amount to a professional translation agency in India for translation services, remember to evaluate the ROI on this investment.
This blog will help you find how to measure the ROI from investment in translation services or the key factors to measure translation ROI.
1. Increment in Website Traffic
The instant effect reflected on the website traffic is raising high. It can be counted on several clicks on the website and then lead generation. Localized Advertisements and landing pages can immensely increase the customer traffic on the website that is directly attributed to the localization cost based on the region from which the clicks arrived.
2. Increased Market Share
Increasing the market share is the biggest dream behind all big or small investments done in the business. Translation or localization of marketing documents increases the reach of the business information. It gets easy to launch a product in a different region with a contrasting culture than the origin country. It increases market share rapidly. The comparative study of increased market share acts as the best return from the translation project.
3. Cost Savings
The next indicator of returns from the investment in translation services is saving in cost. Don’t ponder what costs? Imagine the cost and time you would have incurred to gain the same market share without translation services. There would have been additional employees cost for the extra period, travel cost, hiring the local people to reach and explain products and company values to natives globally. Do you think this would have been in the financial capacity of startups to incur such a level of cost for expansion?
4. Customer Satisfaction
Customer satisfaction is neither a short-term achievement nor directly attribute to monetary returns, but it has a far-reaching impact on the overall return on investments. Interacting with customers in their native language is helping to touch their emotions. It benefits in creating long-term connections with the customer and thus ensures customer retention.
5. Cost of Inadequate Translations
Few entities hesitate in approaching professional translation agencies to save the cost. They should focus on this point. We mentioned the returns on investing in translation or localization in the above points. Now consider what happens when you approach translation services in tidbits to save pennies and come up with a poorly drafted translated text floating in the market without professional proofreading. That document does not communicate information, but it negatively impacts the customer and in the market too. It creates an unfavorable market for you. Now your responsibility will get double; first, you will have to make a good and positive impression and then prove your credibility to build the market. It will then depend upon customer acceptability if they want to give a chance to your product and service or not.
If you compare the returns on the above indicators, you will realize that it is always prudent to go for a professional language service provider. Hire the best translation agency that may ensure the best localization of your marketing documents and communicate with your customer professionally and empathetically.
If you are exploring the best translation agency around you, then LanguageNoBar is the best option. Team LanguageNoBar will look into your requirement thoroughly and will assure you of the best services. Language No Bar is an ISO certified translation company based in India that offers the best in class document translation services in 150+ languages for any type of documents, advertisement, website, etc.
LanguageNoBar offers translation and localization services in various and complex languages, including Asian languages such as Chinese, Korean, Japanese, Arabic, Persian, Sindhi, etc.; Indian languages such as Tamil, Telugu, Malayalam, Kannada, Hindi, Gujarati, Marathi, Punjabi, etc.; European languages such as French, German, Spanish, Italian, Portuguese, Dutch, Danish, etc.; Brazilian Portuguese, Canadian French, Latin American Spanish, and many more.