Who thought having a beefed-up localization program with dozens of supported languages guarantees your company’s growth?
If you have been wondering the same, contemplating which languages and markets to go for next, the (perhaps surprising) answer is, no, it doesn’t … not necessarily.
Depending on who you are and how you look at it, you either see a missed/untapped opportunity for these companies to grow internationally or terrific potential for language services providers (LSPs) to go hunting for the next big contract.
However, keep in mind the following:
LSP sales in Europe have grown by 34 percent in the latest seven years tracked, while the number of companies with at least two employees has increased by 32.6 percent. On the surface, the signs are great for current providers: revenue has increased more than the competition. However, providers of different classes have benefitted unequally. […]
The Nimdzi Interpreting Index is an in-depth report on the state of the global interpreting market that analyzes trends, market forces, and includes a ranking of the top 35 interpreting LSPs by revenue.
Ah, sales... It’s equal parts black magic, sweat and tears, logic, with a bit of luck sprinkled in to make things interesting (and unpredictable). Sales is a process, however, albeit one that is far from straightforward to grasp without proper training.