Every business person’s desire for their product is to go international, get into the global market, make sales, and generate profits. To ensure that this will be achieved, the marketing team must ensure that their marketing personnel is well equipped with all the necessities to go international. In every business, communication with customers is the critical factor that brings people together to a mutual understanding of transacting business.
Therefore, if the parties involved in the transaction process got different languages, it may be difficult to effectively understand each other. This necessitates having a language interpreter to help them agree. Furthermore, the company/business involved may train their marketing teams to ensure that they understand the language of their target market to make it easy for them to understand and transact business. Below are some of the key benefits that come along with an interpretation of language in a company.
Benefits of Language Interpretation
1. Improve Customer Retention and Loyalty
In most cases, many businesses make it to the international level and fail to thrive for an extended period. This results from poor communication between the customers in a foreign country and producers in a foreign country. The most significant cause of poor communication is language differences. To ensure an easy flow of communication, it calls for interpretation.
Interpretation of language makes it easy for customers in a foreign country to communicate efficiently to the producer. It may be done through writing prescriptions, instructions, or any other product-related information in a simple language well understood to the customer. In so doing, the customer will build product loyalty. On the other hand, the producer will retain the customer with less effort, making it easy to maintain his market.
2. Increases Brand Awareness and Equity
The seller can only create awareness about his product through communication. Therefore, he needs to be conversant with the language of his target market to ensure that he has achieved his goal, which is making sales. Therefore, having a reasonable language interpretation will serve the entrepreneur’s interests, effectively creating awareness about his product to his customers.
Furthermore, the customers will be able to give back information to the seller on their perceived experience with the product. Again, reasonable language interpretation will help the seller respond to the customers’ needs on product modification and improve the areas that the product needs adjustments. Additionally, brand equity makes it easy for branded products to perform better in the international market than non-branded products.
3. Increase Customer Share of Wallet
Language interpretation will bring the customer into the limelight of understanding your product most conveniently. This will make them get devoted more to your product than any other product that the producer/seller uses a difficult accent that is not familiar to the customers. Furthermore, serving your customers with the right product of the right quality will also give you a better share in the market.
An increased customer share of wallet will increase sales, leading to increased revenues. It also comes with customer retention, satisfaction, and brand loyalty. Furthermore, the customer will always choose your product over the competitor’s product giving you the control power of the market you are serving.
4. Optimizing Customer Acquisition
This refers to the process of acquiring a new customer. A good interpretation will help you optimize customer acquisition more effectively. Additionally, having a well-spelled language interpretation will help you convert the prospects into customers. This is because the prospects and your marketing team will be able to engage in a more precise way than when both use different languages.
Furthermore, interpretation makes it easy to easily convince prospects and persuade them, thus converting them into valuable and loyal customers. However, it reduces the time to convince the prospect since the marketer and the prospect can easily express themselves and understand each other.
5. Reduce Cost to Serve
Cost to serve is the measurement of cost factors used in servicing a customer. A business with a language interpretation well done will reduce the cost to serve expenses in Awareness campaigns. Customers will require less to convince them since they can easily understand your intentions with the products.
Furthermore, direct communication aided by good interpretation will make the customers and sellers come to reasonable terms easily and without struggles. Having reduced costs on customer service means an added value to the business revenues since they are spending less, and the savings can be re-invested into the business to generate more revenue.
6. Creating Good Customer Relations
Where there is good communication and mutual understanding, there will always be better services accompanied by exemplary customer satisfaction. Therefore, a reasonable language interpretation will always lead to a mutual understanding that builds a good relationship between the seller and a customer. This relationship may lead to customers referring other potential customers to try out your products, thus helping you do marketing in a better way since the customer may be able to convince others in their language.
From the above benefits, language interpretation is a crucial tool for any business success in both local and international markets.