X
23Apr

Survey of 371 Translation and Interpreting Companies Reveals Best and Worst Marketing Practices, Strategies for Growth, and Important Benchmarking Metrics

| Return|

(April 22, 2014) – Marketing is an important function of growth. However, many language services providers (LSPs) struggle with how to develop a marketing plan and budget, establish goals for their marketing efforts, target different markets, and assess the return on investment of their marketing efforts. 

Based on a survey of 371 language service and technology providers, two new reports from independent research firm Common Sense Advisory (CSA Research) explore how translation and interpreting companies can develop, plan, and roll-out marketing strategies to grow their business. The results of the survey, detailed guidance, and an interactive worksheet are contained in the two reports, “Marketing Strategies of LSPs” and “Maximize the Return of Your Trade Show and Conference Strategy.

Common Sense Advisory’s Director of Industry Providers Service, Hélène Pielmeier, states the findings of this study have great significance to LSPs. “This research is essential reading for executives and marketing managers who are looking to strategically grow. The data and insights constitute important benchmarking resources for LSPs that already have a marketing function, strategy, and budget in place – and for those just moving in that direction.”

The two marketing reports are packed with input from respondents, checklists, and an interactive tool designed to maximize budgets, including: 

  • Benchmarks on team size, typical marketing budgets, common activities employed by LSPs, and the perceived effectiveness of those tactics and strategies.
  • Decision criteria for event activities, overview of activities typically performed at events, checklist of steps to follow when planning show strategy, and elements of an event budget.
  • Guidance on how to establish goals for marketing efforts, develop a marketing plan and budget, target different markets, and assess the return on investment of the efforts.
  • Material to plan the prospect’s journey through the marketing funnel, to select marketing initiatives, to track campaign-specific results, and to measure the performance of campaigns.

In related research, the firm identified best and worst marketing practices for LSPs. Inquire about  “Ten Common Marketing Mistakes that LPSs Make” and “Differentiation You Can Bet Your Brand On.” Ms. Pielmeier will also present the best and worst practices at Localization World Dublin in June. 

The reports are published as part of the firm’s syndicated research membership. For more information, visit www.commonsenseadvisory.com or contact sales@commonsenseadvisory.com

Reports are available to qualified members of the media. For additional information about this report or to arrange a one-on-one briefing with Ms. Pielmeier, please contact Melissa Gillespie at 760-522-4362 or Melissa@commonsenseadvisory.com. 

About Common Sense Advisory

Common Sense Advisory (CSA Research) is an independent market research company helping companies profitably grow their international businesses and gain access to new markets. It specializes in best practices for translation, localization, interpreting, globalization, and internationalization. www.commonsenseadvisory.com. 

###

Tweet: @CSA_Research surveys 371 marketing professionals at LSPs for new reports focusing on strategy, planning, and ROI http://ow.ly/vTJiu

Related

Amount of Content Translated via Machine Translation to Skyrocket by 2016

(BOSTON) May 25, 2013 -- Language services consumers constitute an integral part of the global econo...

Read More >

Leaving La Vida Loca: Global brands in the U.S. must address

According to a new report released today by independent research firm Common Sense Advisory, “Leavi...

Read More >

Translation and Localization Industry Grows Amidst Declining Business Confidence Levels

In today’s economy, many financial analysts say that “flat is good.” Looked at in isolation, the ...

Read More >

CSA Research Releases 2021 Language Services and Technology Market Growth Scenarios

The firm predicts final figures for 2020 will show revenue below the pre-COVID forecast of US$51.94 ...

Read More >

Market for Outsourced Translation and Interpreting Services and Technology to Surpass US$37 Billion in 2014

(BOSTON, MA) – The global market for outsourced language services and technology will surpass US$37...

Read More >

First-Ever Comprehensive Study of the North American Interpreting Market

(Washington, DC) – They enable courts, hospitals, schools, and businesses throughout North America ...

Read More >