By Dany Olier, ICD Translation General Manager
Translation and localization is essential for international growth. However, many higher ups in organizations are unaware or unsure about the value of translation and how critical it is in order to increase global sales. In fact, companies that translate their online material were found to be 1.5 times more likely to experience an increase in revenue, according to a survey of Fortune 500 companies by Common Sense Advisory, a global think tank that performs research on international communication trends.
When it comes to measuring return on investment (ROI), it really depends on what’s important to your organization. You can measure success in many different ways. Sometimes it’s revenue, sometimes it’s market share and other times it’s the number of new clients. In any case, new translation campaigns should be sure to correlate to your business goals, as these are the ones that are going to be funded by your organization.
What is important to note is that the opportunity for increased ROI occurs as the volume of translations, the number of target languages, the frequency of updates and versions, and the ability to use proven and streamlined processes, grows. The more you translate, the less your translations will cost overall. That’s why it pays to stick with one language service provider, as opposed to diversifying with many providers.
Contact ICD Translation today to learn more about how we can help you increase your ROI with our website translation services.
Source: Grotendorst, T. How To Measure ROI For Translation Management. Phraseapp.com. Retrieved from https://phraseapp.com/blog/posts/translation-management-how-to-measure-roi-for-translation-management/