In the ever-changing business landscape, factors such as flexibility, range of customer base and being able to adapt, can make the critical difference between you and your competitors. One of the main ways this can be achieved is by working with a Language Services Provider (LSP) to expand your offering across different languages.
Now you may be thinking, "great idea, but why do I need to shell-out for an LSP when I can just use a free translation service? You could. But if want to know for sure that your messages are being translated in context, that linguistic nuances are being captured and accommodated, that localisation is being considered, and that overall quality is the best it can be, we would suggest that you need a high quality LSP.
If you need more convincing, here are five reasons why you need an LSP this year:
#1: Increase in video content online.
According to Statista, over three billion internet users were watching, streaming, or downloading video at least once per month in 2022. This number is projected to increase annually, reaching nearly 3.5 billion by 2023. And of active internet users, 82% of global internet traffic in 2022 came from video alone (according to cisco.com). It's been known for years that video is the most effective way to market your business and raise brand awareness.
So, if you want to maximise your potential audience, it’s important that your messages are accessible in multiple languages. With hours of video content consumed daily worldwide, businesses can reach new audiences in new and engaging ways. An LSP can help create and repurpose your content in several languages – whilst maintaining accuracy, context, and local relevance. It would be a massive, missed opportunity for small to medium businesses intending to grow not to consider this.
#2: The demand for Language services.
Speaking of which, having an LSP onboard is not restricted to large multinational organisations - it’s become a useful commodity for businesses of all sizes. According to imarcgroup.com, in 2021, the LSP global market was valued at $62.1 billion, and is expected to reach $96.1 billion by 2027. Businesses worldwide understand the potential of having an LSP in their corner. Companies that opt for high-quality translation, localisation or interpretation services have more opportunities than their competitors. If you wish to compete, you must get involved.
#3: Fast-growing market of Asian languages
The potential for business expansion can be seen in Asian languages. Whether that be to customers or suppliers, this trend provides a unique opportunity for businesses to invest in the future today. As stated by preply.com, when combining native and non-native fluent speakers, languages like Mandarin are expected to have 1.2 billion speakers by 2050. Meanwhile – taken from the same research – Indonesian will be the fastest-growing language in the same period, with an expected growth of over 200%. The story is the same when you look at Hindi, Japanese, Korean, Vietnamese, and the list goes on. Having an LSP that caters for these languages almost future-proofs your business and ensures you don't miss out.
#4: Accessibility & Inclusivity
With the British Sign Language Bill introduced in 2022, inclusion and accessibility have further increased in importance for many businesses. And not just for clients but for staff too. Even in areas which were behind the curve, no longer is accessibility being treated as an afterthought – and nor should it! In the same vein, when building customer retention and stopping new leads from disappearing, providing more ways to communicate is an effective means of engaging wider and wider audiences. Whether that is by providing multiple language options for your website or having your marketing materials localised, this will become a fundamental aspect of all successful businesses moving forward.
And finally, #5: Run a more efficient business.
We have adopted multiple ways to achieve our goals in a post-pandemic world. And for businesses interested in language services, this is the same. Years ago, if you needed an Italian translation or a Punjabi interpreter for example, you'd have to undertake laborious methods to achieve this. Taking ages to find the right person, hoping that someone spoke that language well and was available. Or – as mentioned before - take a risk and process essential documents through computer programmes, hoping that the output was exactly what you required.
Today, it's so much easier to achieve your language goals with assurances around quality, security, and cultural relevance. World-class translators are a few taps away on an app. Live video and telephone interpretation means you can communicate anywhere, anytime, in multiple languages. Advances in technology mean that the ways by which you can achieve desired outcomes are advancing year-on-year, saving you time and money whilst still ensuring quality and security. The opportunity for businesses today to expand their reach beyond previous limits is the best it's ever been.
Now more than ever, businesses can grow beyond their wildest dreams. As the demographics of our society continue to evolve and change, now is the time to assess what language provisions you can offer to your customers or communities. Whether you're new to the world of LSPs or want to switch to a world-class LSP like LanguageLine, get in touch today and see how we can support your business.
