Nowadays, a rapidly growing number of business owners in the United Kingdom decide to explore international markets and take the full advantage of globalisation. Although still overlooked fairly often by the corporate managers, one of the most important aspects of business internationalisation are professional translation and language services.
The language translation industry is expected to beworth over £40 Billion worldwide within the next 2 years. As you can see, such growth indicates that the approach to internationalisation is changing amongst UK businesses, who are starting to fully appreciate the true importance of translations within competitive markets and the direct impact they can have on sales. The once widely preferred ‘one-fits-all’ approach to markets, where an entire marketing campaign remains unadjusted for specific markets (including language, images etc.), simply because it works well on the company’ home turf, is currently being replaced by a more modern method, which identifies each market from an individual angle and defines its characteristics separately.
As it happens,
language is one of the main characteristics defining culture, which defines market.
Equally important to the socio-economic aspects, language can define how a
market reacts to a campaign or product, and consequently, directly affect your
which international market a company chooses to target, translating their
content in order to suit that particular market’s characteristic is something
any successful business must consider.
What material should a business translate?
Although this is
an extremely important question, it is also a very individual one and unfortunately
there isn’t a straightforward answer. Before translating, each business needs
to evaluate their campaigns, products and the chosen market itself in order to
specify precisely which materials will help them in increasing sales and
revenue after being translated into the market’s native language.
For example, a
company might wish to enter a market with a range of specific products, which
they find most likely to perform well in the chosen country. If the company’s
website is extensive with a number of different sections and hundreds of
product descriptions, translating the entire website would not only be
impractical and futile, but also costly. Being able to successfully identify
the specific business content, which after translating may be in some ways
capable of positively affecting consumer behaviour is a critical part of
internationalisation, not only for the potential revenues, but also the
As the company’s
website is, in many instances, the first point of contact between a business
and the potential customer, translating the firm’s web space is an almost
essential step when approaching foreign markets. Nonetheless, website isn’t the
only marketing material a company should translate in order to successfully
acquire new customers abroad.
If a business
has a physical presence in the target country, translating brochures, leaflets
as well as something as trivial as business cards can have a direct, positive
impact on consumer behaviour and your brand’s perception within a foreign
If your company
will approach the foreign customers online, as previously mentioned,
translating your website (or the chosen areas of it) is nothing short of
essential. Additionally, if you run a mobile app which your customers can use
to stay connected with your brand or purchase your products, translating it
might also be worth considering – from both – company image and sales point of
Often, however, marketing materials such as websites or mobile apps require transcreation, which is a step beyond a simple word for word translation. Transcreation focuses on recreating marketing content in order to ensure that it is carefully localised for the target audience, which includes not only the language itself, but also other elements which may affect how your potential customers perceive your campaigns. Transcreation usually considers language, emotion and culture of the target market and allows the marketing materials to be specifically and carefully attuned to consumers. You can read more about transcreation here.
Is there anything else?
owners believe that translating marketing materials is all that needs to be
done during internationalisation. Although essential, translating marketing
content isn’t everything. While overlooked, the translation of legal documents
is equally important for a business while approaching foreign markets.
documents such as contracts, terms and conditions or user-manuals is key in the
customer acquisition process and can additionally be an important element of
gaining business partners.
translation of marketing content requires a lot of creativity, legal documents
often require an understanding of legal system in both, the home and target
countries. As a result, it is extremely important that the translation agency
your business decides to work with is able to provide translations by linguists
who are not only native speakers of your chosen market’s native language, but
who additionally have experience within the legal sector.
Linguist or a translation agency?
In many cases, a
business owner is able to successfully select the materials which need
translating and allocate funds in the budget, but isn’t quite sure how to find
the best provider for their particular translation needs.
related translations, human translators are usually a far better choice than
machines. Although significantly more expensive, they guarantee creativity and
expertise which even the most advanced machines aren’t able to match. Yet.
When looking for
a professional translation provider, a business is typically faced with two
options; working with a freelance linguist or a translation agency. Each of the
two options have their pros and cons and it truly is the company’s individual
approach as well as their needs and budget which will define the choice.
Working with a
freelance translator is usually cheaper, nonetheless it comes at the price of
turnaround times and security.
agency will not only be able to provide the translations faster, but will also
guarantee higher security, which can be especially significant when translating
benefit of working directly with translation companies is the fact that they
can provide specialist translations for a number of sectors and types of files,
while a freelance translator usually specialises in the translation of
particular type of files, whether marketing or legal and won’t be able to
provide expertise across all materials.
A great place to
find a freelance linguist can be Proz. The platform gathers professional
linguists, who can be sorted by a number of different criteria, such as
language or expertise, suitable for your particular materials.
There is also a large number of professional translation companies, which specialise in business and corporate translations. Some of the agencies, such as Lionbridge, Language Experts, Translations London or Translation Services 24 have a network of freelance as well as in-house translators and are able to cover not only several languages, but also a wide range of business sectors.
Is it all worth it?
Again, this is a
question without a straightforward answer. Translating your material can be an
expensive venture, nonetheless, many consider it an essential step when
approaching foreign markets. The ‘one-fits-all’ approach might still be popular
amongst the older generations of business owners, it is however an outdated tactic
in the eyes of the younger generation, which is more accustomed to
globalisation and the digital world.
services are without a shadow of a doubt an important aspect of
internationalisation. Translating your company’s materials can not only improve
your company’s image abroad, but in many cases also directly affect sales; as
almost 80% of consumers claim to feel more inclined to committing a purchase if
the information about products/services is available in their native language.
The fever for Bitcoin does
not stop. More and more online services offer them as a means of payment and
there is a whole community of people who buy and sell this crypto currency. How
are Bitcoin acquired?It may be providing a service or selling a product in
exchange for accepting payment with Bitcoin, buying cash or bank transfer among
people or by so- called “exchanges. Another great advantage of having
Bitcoin is that you have the security that the money is 100% yours and nobody
can freeze your accounts. Even you can use Bitcoin
tumbler to hide your identity while exchange in complete
What hardware is required to mine?
In the beginning this
process was done with CPUs, then with GPUs and FPGAs. Currently, Bitcoin mining
is professionalized and is done with chips specifically designed for this task
(ASICs). Specifically, these teams resolve SHA-256 hash functions that are the
“work proof” necessary for the network infrastructure.An account is
also needed in a mining pool, where many people are in charge of – together and
solving the blocks necessary to process the transactions. While they are based
on Bitcoin and the difficulty of mining is also increasing, there are coins
like lite coin that can still be mined with GPU, which are simpler in the sense
of not requiring specialized hardware.
Transaction and security
When one makes the purchase
of a product with Bitcoin, if it comes from abroad must be taxed at the customs
as with any other form of payment. But if there are advantages in that you do
not have to ask for authorizations such as credit cards or give personal
information when purchasing products that do not include a shipment such as
e-books, software, etc.There is a shared database (P2P) in which the accounts
and their respective balances are recorded. In reality, thefts or hacks are to
users or services that use Bitcoin. It is like the case of a person who steals money
or a bank whose security boxes are stolen.To avoid this, the services usually
offer a token similar to that of many banks using mobile applications such as
Google Authenticator or SMS messages.
Conclusion: Bitcoin agent
the absence of any external mediating agent, transactions in Bitcoin are made
from person to person and the commissions for these transfers are very low. In
fact, that there is no mediator also helps you to save on fees for online
payments or bank change, to give some examples. Of course, those transfers are
irreversible. Once you send money there is no turning back. When there is a
transaction, the balance is debited in one account and credited in another.
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