Like every industry in the world (in fact every centimeter!), the language services industry, including the translation sector, has been greatly impacted by the recent technology revolution (why not call it silicon revolution?!) and its related flow of developments in the fields of telecom, IT and many others. The impact is undeniably so fundamental that it has affected every and each area of our life.
Why Need a Marketing Strategy?
A smart language service provider needs to reconsider how they are selling their services and to re-focus on the added value they offer to their clients. Isn’t that called “marketing strategy”?
Success is a multi-stage process, not one shot. Therefore, after your business has established itself locally, logically it’s the time to reach out to a global audience. In fact, it’s an opportunity that is becoming increasingly open to international giants as well as small & medium companies.
A CAT tool stands for “Computer Aided Translation” or Computer-Assisted Translation”. CAT tools don’t include machine translation, as they depend entirely on humans, but they assist translators in managing translation projects so as to deliver better quality. CAT tools have various features. For example, some tools have online terminology databases, some are cloud-based software, some can work with different types of documents, and they all have translation memories which save previous translations for using them later.
Legal document translation is often labeled as one of the most challenging types of translation, as it blends the accurate, precise terminology typical of technical translation and the creativity that characterizes literary translation.
Why Do Businesses Need Legal Document Translation Services?
The world is currently witnessing increasing globalization of the financial industry, with its various types of businesses ─ investment funds, credit unions, banks, accountancy companies, insurance firms, stock brokerages, credit-card companies and others.
From banking to insurance to investment management to securities, the financial industry, 11 years after the global financial crisis, is now focusing attention on governance, new technology challenges, and, most importantly, the rising trend of individual countries having their own financial laws and regulations.
The automotive sector has globally gained this leading position because it is an industry that is closely connected with the daily lives of people in almost every country worldwide. And don’t forget that the sector usually comprises some of the top companies across the world.
The automotive industry, however, was gaining ground in 2018 and is still making considerable headway in 2019. According to car sales statistics, around 86 million cars were sold in the top 54 world markets in 2018, while the Ford F-Series, Toyota Corolla, and Honda Civic were the top-selling car models worldwide.
It is of utmost importance to have a language service provider (LSP) if you want to penetrate into new markets and expand your business. However, it can be an uphill task to look for a partner that understands your strategic goals.
It is essential to identify the target market if you want to demonstrate unprecedented growth on a global scale. Leverage all your time and resources in conducting market research to carry out an effective product localization strategy.
International companies invest a lot of money into looking for new markets to enter globally to increase their market share and double their sales. They always work on how to market their brands to impress more clients and this also applies to their existing markets. The marketing teams of these companies are constantly researching on the local trends and coming up with marketing ideas to fit these trends and build customers’ loyalty. International corporations and brands understand that they may have to tweak how they market their products in some countries according to the cultural appropriateness in order to increase its acceptability and success. MENA region is important for companies looking to expand globally. However, marketers of these companies have to carefully design their marketing campaigns in order to tap into the Arab market and culture.
