Industry Knowledge: Measuring the ROI of Translation

The real value of translation services are often overlooked — even today when the stakes of social media and PR embarrassments are so high. It can be tempting to focus on the bottom line of keeping revenues high and costs low, but there are some services that you just can’t skimp on.

It’s proven that going the most “affordable” route with translation often leaves companies paying more in costly errors, battling risky cultural and legal issues, and dealing with poor press. Additionally, the quality and accuracy of translations for growing international businesses are also proven to have a direct effect on an improved ROI.

So, the more is invested in high-quality translations, the more return on investment is achieved.

PhraseApp recently wrote up an informative article that dives into the real ROI of translations, as well as how to measure it.

“Information on ROI, “return on investment”, can quantify the business value of translation management and localization, but what should you track? Any ROI calculation depends on what matters most to your business.

Companies measure success in different ways and most of them set business goals that focus on key metrics. Often revenue, market share and volume of new clients have priority. You might be also interested in information about increased brand awareness and higher customer satisfaction, which are less-tangible.

There are many performance indicators and metrics that you can measure. It is best to start small and keep KPIs simple. Think first of what is most critical for growing your business.“

Read the rest of the article on the PhraseApp site: https://phraseapp.com/blog/posts/translation-management-how-to-measure-roi-for-translation-management/

 

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