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Transcription project case study: FCSUK development

Transcription case study

 

With this new case study, we want to present the transcription project commissioned by the British company Flexagon Capital Solutions LLP.

Flexagon Capital Solutions LLP (“Flexagon”) is an investment manager MIFID firm that combines transaction structuring, credit origination, and asset allocation capabilities with a strong risk management discipline.

For private investment deals, Flexagon has an established granular network of contacts in the territories of interest, so to source first-hand specialty and niche opportunities.

For asset allocation, Flexagon employs robust techniques for building a pool of investments that match the risk/reward objectives of its client.

Flexagon can offer its structuring/execution and portfolio management services to professional and institutional clients and fund management companies.

Transcription service

At Translations Universe we provide a professional audio/video transcription service. By relying on native-speaking industry professionals, we report in writing, audio or visual files. Depending on the goal of the requested transcription, we have selected two main categories:

Soft transcription

The transcription produced in digital format reconstructing the dynamics of the text while maintaining the meaning of the conversations of the source file. In this way, portions of the original source could differ, as in the case of exclamations, meaningless sentences, truncated sentences, sounds or words in the background. We aim to transcribe the meaning of the given audio/video file.

Literal transcription

Literal transcription: the transcription produced in a digital format not affecting the audio of the file. All parts of the speech will be transcribed, including truncated sentences, exclamations, interjections, ideophones. This type of transcription is required if the contents to be transcribed are of a legal nature or in any other case if requested by the client.

The files are generally returned in the same format as the source of the commissioned text unless special requests from customers. Our translators work on editable digital texts.

For the audio or video parts to be transcribed to be uncoiled, it is necessary that the files provided by the clients are audible to return a transcription quality close to perfection.

We are able to translate audio or video media files, this requires the transcription and translation of the media files, thus, it will apply the combined rates for the transcription and translation service. The customer can make a specific request for the type of transcription.

The project

The client chose Translations Universe because of its need to transcribe a complex project, both for its legal-commercial nature and for the amount of work to be developed. For the transcription of this project a team of 3 experts, two transcribers, and a project manager with the task of splitting the files to be transcribed and coordinating the staff.

The main difficulty, besides having a very short delivery time, was managing to deliver a work that was linear, in the terms adopted and in style. As time was short, it was necessary to proceed by creating a terminological database allowing transcribers to work with ease.

As a rule, we prefer to assign this type of work to a single competent professional so that the project does not differ in style and glossary. Yet, when the client needs to receive the documents, in a short time, it is necessary to divide the workload between several professionals. As mentioned above, glossaries allow the meanings to be conveyed by using the same terms, especially in the case of soft transcription where it is preferable to enhance the meaning of the transcribed moment.

In this specific project, the client requested a Literal transcription, so that every element played in the audio files would be clearly stated in writing. This type of transcription is preferred in case the audio extracted from a conference, meeting or speech in general needs to be reported in full written form. Usually, this type of procedure is used in the case that the final piece of work is used for legal, medical or fundamental importance purposes.

Moreover, an extra level of difficulty is due to the participation of several interlocutors within the same discourse. In this case, the customer produced an audio file in which eight members of the company participated, each with their own phonetic tone, dialectal inclination, and style in the spoken language. The file format was not a video format and thus we conducted the transcription by using our transcription software able to recognize the vocal timbre of the speakers detecting the wavelength of the sound played.

We transcribed two files, for a total duration of 360 minutes. It takes about 10 minutes to transcribe 1 minute of an audio/video file to get an idea of the work done. The fee charged per word was 3.80€/word. The service, in this case, was carried out in a mono-language form. We are able to offer a combined transcription/translation service that provides two distinct but competing levels of elaboration to develop a contextualized and linear work, as well as localized for the phase in which it will be consumed.

Resume

There are several ways to approach an audio/video transcription project, one of them is the one we have described. The approach varies according to the client's request and the expertise of the file that may determine the choice of a Soft or Literal transcription.

Price per minute of transcription varies according to language and area of expertise and can be estimated on the Pricing page.

To shorten delivery times we may rely on the cooperation of several professionals, coordinated by a manager and the creation of a glossary that provides linearity to the entire project.

In this project, more than 45,000 words have been transcribed, equal to a minute of 380 minutes of recording. There were 8 speakers participating in the speech and they were identified thanks to sound wavelength detection software.

Files in mp3 format have been delivered to the client in Docx format, presenting a matching that allowed to identify the content of the reproduced speech and the agent speaker at that particular time.

CASE STUDY: FINANCIAL TRANSLATION FOR XBPRIME

Xb prime translation case study Translations Universe

 

Case study: Financial translation for XBPrime

 With this new article, we want to deepen our cooperation for the translation project of the online trading platform XBPrime. This translation project was conducted within the Forex/Finance expertise and the platform's contents were localized into 7 languages: Arabic, English, Italian, Spanish, French, Portuguese and Vietnamese.

Let's look at the essence of the project: XBPrime was founded with the primary vision to help traders succeed in the foreign exchange market by providing excellent market conditions, including first-level trading order execution, low spreads and latency, high protection of funds and the best possible technical support.

The project was structured by distributing the content of the website and the trading platform in multiple files, with an extension in .xls format that would allow keeping the different translations and the source text on the same file. This facilitated the work of uploading content to the web platform considering that, if we had worked on single translations, the technicians would not have been able to recognize which content to upload to the site and where. The amount of translated text content was approximately 10,000 words per language.

The expertise area: Online trading

In a rapidly growing financial world with emerging markets characterized by new commercial investment opportunities, it is essential to be able to operate in any economic cycle with diversity in the most efficient, safe and fair way possible.

The ultimate goal of Xbprime is to support traders to succeed in the foreign exchange market by ensuring excellent market conditions, including the execution of prime trading orders, low spreads and latency, high protection of funds and the best possible technical support.

We also remember that Xb prime supports financial trading platforms, among them:

  • MetaTrader 5 (MT5) is a new generation trading platform, chosen by traders and investors around the world for trading Forex, metals, commodities and CFD equity instruments;
  • MetaTrader 5 (MT5) Android Trader is our mobile trading application, which allows traders to connect to our trading servers and control their trading operations using any smartphone or tablet device with Android operating system;
  • MetaTrader 5 (MT5) iPhone/iPad Trader is our mobile trading application, which allows traders to connect to our trading servers and control their trading operations using any iPad or iPhone.

Project Overview

Our aim has been to provide users with a navigation interface in their native language, in order to be able to offer maximum transparency of the financial matters dealt with by Xb prime. The translation operation was necessary in order to support users with multilingual experts, available 24/5 to answer any technical or accounting questions.

The project was divided into several parts, each of which was to be translated and uploaded to the language versions of the site. This meticulous procedure of translating and reorganizing the texts into a single file allowed us to gradually create a terminology database to be distributed to the translators to keep the nature of the translation linear.

At Translations Universe, we have long focused on translating content related to the world of finance. In recent years, we have expanded our portfolio of client projects in this area, translating multiple projects for a variety of purposes, one of the most important is Xb prime.

BROKERAGE RELATED WEBSITES

We constantly translate financial reports, news, and reports that influence market trends, or guidelines provided by experienced brokers within the various trading platforms.

FINANCIAL REPORTS

Needs a proper context and knowledge of the business. Shareholders and brokers rely on your company's financial reports to make informed decisions. Make sure they are accurately localized with our financial translation services.

ONLINE TRADING

Our translators are familiar with the terminology used in online trading. We regularly serve clients in the trading industry from all over the world.

CRYPTO-CURRENCY

Another fundamental aspect of modern finance, we at Translations Universe know and know how to correctly translate content related to major crypto-currencies.

FOREX

Currency exchange is one of the financial aspects that we have perfected. Many of our translators are experts or professionals in the financial sector and know the main currency pairs and the relationship that regulates their exchanges.

Glossary selection and vocabulary applied

The main difficulty was the coordination of the project in the 7 target languages. In order for the text to be similar in all the translated versions, it was necessary to create a terminology database that all translators could consult, starting with English, in order to ensure uniformity between all language combinations. We, therefore, proceeded to create glossaries in English using our translation software, accompanied by guidelines that indicated to the various professionals the style, terminology, and vocabulary to be used in their translations.

A glossary is a collection of terms belonging to a specific and circumscribed area. In some cases, the term glossary is used to indicate the collection and explanation of outdated or specialized terms used in a book (generally placed at the end of the text).

The glossary differs from the vocabulary and dictionary, although it is also a collection of headwords, precisely because it catalogs terms and phrases belonging to a specific field of reference and limited to a general technical subject: in this case, the specific field was financial.

Some of the terminologies typical of the language of the financial sector were deliberately left untranslated and in English since they were typical of the financial context and would not have conveyed the meaning adequately if translated.

 Meta-descriptions and keywords

A key element of content translation for the web is the translation of metadata. Quality plays a key role in advertising campaigns. Quality plays a key role in advertising campaigns. Our translators will not only choose the most suitable terms for your market and respect the different keyword combination options (general matching, sentence matching, exact matching, and reverse matching), they will also follow AdWords' guidelines on quality and best practices suggested by Google. This will maximize the quality score of your keywords and ensure the success of your advertisements.

Keywords, language text strings and the study of "trendy" content in a given location provided us with the basis on which to build our organic multilingual SEO strategy.

 Final considerations

At Translations Universe, this complex, 7-language financial translation project was handled with great professionalism from the point of view of upstream work organization and team management so that the final result was simultaneously correct and straightforward for all the translated versions.

The aspects addressed, from the management to the translation of metadata in the SEO key, were structured in such a way that the content translated and provided to the client was qualitatively close to perfection and usable for use by reference users and compatible with search engines in terms of positioning.

The solution adopted by the client did not entail any additional costs from a project management point of view and the translations were quoted on the basis of cost per word in the technical and financial area.

Enhance your business with Translations Universe: tips for searching and being online

Boost online Translations Universe 1

Enhance your business with Translations Universe: tips for searching and being online

Most users use Google to search more or less efficiently. However, many do not know what to get different search results, you can instruct the search engine to return more relevant results.

Boolean operators

For example, suppose we are looking for information about one of our competitors in a specific market. We can put the Boolean related: operator before our search to find information related to that particular competitor. Before visiting that competitor's page, we may want to search for information within its website, in this case using the operator site: which will return the values searched within that site. The site: function is particularly suitable when we navigate, for example, within Linkedin. This engine, in the free version, returns the link knowledge values up to the 3rd level and may not show us the link we are looking for. With the function site:linkedin.com + role or name of the link, we may see the contact we are looking for. This operator is also useful if you want to search for a specific market: for example, we could narrow our search in the United Kingdom by using the operator site:website.uk to search within an English market. Another important player is filetype: which allows us to search for documents in a given format, e.g. if we were looking for documents in .pdf format, we could use filetype:pdf.

We also remind you that Google allows you to change the navigation language as well as the geographical area where you are starting a search. In this way, we can pretend to be abroad in order to obtain more relevant search results.

 

Catch the audience we're interested in

The key to being able to intercept the right audience online is certainly to identify targeting priorities. We try to analyze the behavior of our ideal user: do we want to intercept a demand already on the market or launch a new proposal? In this regard we suggest you read the article about our multilingual SEO strategy so that you can act with the aim of structuring your content to be attractive to the users we are interested in. Translations Universe carries out linguistic research so that content is translated using terminologies that have a greater appeal to the target market audience. For example, suppose we want to communicate our company's values in the German market, our team will do specific research, using tools such as SEMRUSH to associate language strategy with marketing strategy and identify content that is attractive to the German user, based on the most searched for queries in that country.

Google trends is also a good tool to evaluate the search interest for certain topics. It provides information on search volumes in real-time. Google Trends data reflects the searches made by users on Google every day but may reflect irregular search activity, such as automated queries associated with attempts to place spam in search results.

In addition, we would like to point out a useful keyword search tool, Ubersuggest, which gives us an idea of the cost per click to start an Ad-words campaign. This tool helps to generate keywords for content marketing strategy, suggests keywords and their relevance by country or location and language. It can also analyze competitors' SEO strategy, content marketing, and social media in order to implement new strategies, refine them and gain an advantage over our competitors.

Your online presence can be conveyed directly through our website, through Google fact sheets or Google My business, through social media or industry marketplaces. Marketplaces are exceptional tools if you want to permeate a particular industry. Remember, however, that often, within marketplaces, there are several competitors, so it will be necessary to operate a brand awareness strategy with the aim of enhancing the quality of your brand in order to distinguish it from competitors. One strategy that we recommend is to tell the stories of the people who work in our company in order to win the trust of our customers and build their loyalty to our know-how.

Other target profiling tools: Audience Insights from Facebook

A valuable tool that supports a user's profiling needs and knowledge of their search habits is Facebook's Audience Insights. This tool allows you to categorize users according to their country of origin, age, gender, like pages in order to know what are their search habits and create interactions according to their interests. Facebook, therefore, allows, through this tool, to define the target market and tell the stories of the brands with useful tools such as video ads or carousels.

Linkedin also offers good systems for launching advertising campaigns and traffic segmentation. Our advice is to start more campaigns that actively contribute to generating leads. For example, we can start two campaigns at the same time: the first one will generate visibility and provide a lower and continuous budget; the second tactical campaign will involve a higher budget but only at a certain time and will lead us to the result we want to achieve (for example at the launch of a promotion.

Analyze data from advertising campaigns

The main tool we recommend to adopt for the study and the strategy based on the collected data is undoubtedly Google Analytics. This valuable tool allows us to track the ROI on advertising campaigns, as well as tracking user activities on our website, social networks, applications and all data related to direct online sales (Google Analytics E-commerce Tool).

This will allow us to listen to the market we are analyzing and intercept its needs, build customer loyalty and acquire contacts. Some noteworthy functions are those we suggest below. We certainly recommend that you activate the e-commerce tracking function that will allow you to display on your dashboard the performance of your e-commerce site, the behavior of users during the purchase, the performance of each product, etc. To activate this function, you must access the administrator panel and enable the function under "E-commerce settings". By default, Google Analytics does not require this function to be active.

Another useful Google Analytics tool that we recommend you use is Benchmarking Reports. It provides us with information about the performance of our online action against benchmarks:

To access benchmarking reports, select the Reports tab, then Public > Benchmarking. Choose one of the following three reports:

  • Channels compare channel data against the benchmarks of each channel in the Default Channel Grouping: Social, Direct, Referral, Organic Search, Paid Search, Display Advertising, Email.
  • Location compares country/area data against benchmarks for each of the countries/areas from which you receive traffic.
  • Devices compare device data against benchmarks for traffic on desktop computers, mobile devices, and tablets.

Comparison with benchmarks

Use the selection menus at the top of each report to define the benchmark against which to compare data.

  • Industry Top (required): Choose from more than 1600 industry categories.
  • Daily visit size (required): Choose from seven traffic size classifications. This allows you to compare your property against properties with similar traffic levels in your sector.
  • The geographical location (optional): limit your benchmarking data to a specific country or area by selecting a geographical location.

Why Story-telling?

Story telling customer journey market abroad

 

Why Story-telling?

Story-telling is a narrative technique that creates emotion and involvement and conveys values in an authentic and coherent way to capture the audience's attention. It allows to speak the same language as our interlocutor and engage the audience, whether predefined or induced to behaviour (e.g. purchasing).

Story-telling is a narrative capital that allows a company to improve itself, to look at the world around it in a different way in order to understand its identity, its history and the corporate culture that distinguishes it. It also allows a company to express its potential, those of its product and to activate certain behaviors that will create appeal in the target audience.

In recent years, story-telling has become a competitive element for companies, becoming a necessary feature to enter a market. We tell the characteristics of our brand to a distinct audience, made up of people in order to understand the feelings of those we are naming. It is, therefore, necessary to conduct a qualitative analysis in order to listen to the state of mind of the people we are addressing in order to understand their momentum. In doing so, we will be able to create identification with our target user and engage with their need (Customer Life Journey).

We, therefore, draw the narrative profile of the target audience in order to build a suitable offer for it.

How to Story-telling?

Following the qualitative analysis mentioned above, it is necessary to conduct responsible story-telling while maintaining consistency with what is being told.

We prefer the intangible element related to our product or service placing its characteristics in a specific reference market. In the case of international markets, it is good practice to conduct a study of the culture and characteristics related to the country in which you operate.

The cultural dimension takes on fundamental characteristics in order to aim to compete in the reality in which it is constituted. Among the key elements that we can take into consideration to analyze the culture of a country and its market we find them:

  • Sense of the local hierarchy in order to be able to aim for top management;
  • The opposition between community and individuality;
  • Analysis of relationships (Short term vs. Long term);
  • Analysis of the type of society related to gender issues (Masculinity vs Femininity);

The elements listed above can be merged in order to create clusters to be applied to the communication to be adopted as a business strategy.

We strictly avoid to be guided by stereotypes and prejudices and we prefer inclusive behavior that leads to the understanding of the cultural aspects of the market in which one's business reality is told. In addition to communicative elements, we pay attention to verbal and non-verbal language in order to avoid misunderstandings.

Flexibility is the key to selling a product or service and embracing local business policies.

On a practical level, the narrative technique of story-telling can be expressed through digital tools. We want to deepen the communication of corporate values through the online blog. Using a blog creates visibility for the company online and generates opportunities for customer acquisition and therefore sales. The blog must be consistent with the reality that is told, it must be original and follow the linguistic and stylistic style of the context that is narrated. The main search engines prefer original content and are hungry for SEO-friendly meta-contents. It is, therefore, appropriate to identify keywords and meta-descriptions to be fed to the CMS that hosts the blog in order to make our pages and, consequently, our products or services more attractive to search engines.

 

Customer Life Journey = Hero’s Journey

The author who approaches Story-telling and narrates a company reality, in this case, the corporate one, creates story-telling, a world in which we understand who we are and how to tell ourselves. It will, therefore, be good practice to create a Storyboard like the one that distinguishes the journey of a superhero ("Hero with a thousand faces" J. Campbell).

The hero that we can associate with the reality of our company, makes an adventure that begins with a call to action (we can compare it with the need for corporate change), this vocation is opposed to the refusal (obstacle to change - e.g. finances). He will, therefore, have to face his antagonist (e.g. identify the price of a product abroad), carry out tests that will lead him to victory and to obtaining a reward (e.g. to establish profitable relationships with the operators of the reference market).

The journey is the basis of the narrative. There must be the right tension in order to make the narrative appealing and transfer it to the context in which it operates and enhance the emotions that reign in it.

Making parallelism with the hero's journey, transposing it to one's own reality can be an excellent starting point to be able to connect to an audience and the ideal user: the key is the identification.

Enhancing the brand through story-telling

A brand can be considered, on an international level, as a sound that identifies the characteristics of a company and its values. We, therefore, use this narrative tool to tell trends, activities, and experiences related to the product or service offered by our company, the qualities of our workforce, the aesthetics and design that distinguishes us and the set of values that we want to put on the market.

A brand can grow regardless of the value of the product. However, we must be able to build the identity of our brand through an industrial strategy that allows us to transfer the value to the markets (following an analysis of the needs, culture, history, and morphology of the country in which we operate).

We, therefore, work with a view to increasing the economic value of the brand and the emotions it conveys. The intangible characteristics are those that will allow us to sell the product at a higher price than the competition by acting on the value perceived by the end-user. The big brands have achieved success because they have been able to reinvent themselves, to understand our way of life and to influence the purchasing dynamics that we perform, sometimes unconsciously, every day.

Remember that the brand is what is in the consumer's mind and expresses tradition, awareness, history, and reputation of who we are and gives our products (or services) distinctive value that increases the perception of the brand itself.

A well-constructed and well-narrated brand is immediately recognized and evokes feelings in the user (e.g. we associate the Ferrari brand with luxury). The brand is a representation of itself, of the way we want our image to be perceived and combines tangible and intangible elements (Emotions, utility, gratification, etc.) in order to communicate success.

THE ADVANTAGES OF A LANGUAGE STRATEGY FOR EXHIBITIONS

tradeshow and exhibition

The advantages of a language strategy for exhibitions

With this new format, we would like to discuss an important aspect for the growth of a brand in a foreign key: the exhibition. The tradeshow is a useful business storytelling tool to tell the characteristics of your brand in a specific place. The tradeshow brings together important aspects related to communication and marketing that aim to increase visibility and generate opportunities and interactions. Building the business and establishing new contacts are the goals that a company plans to achieve thanks to the fair.

It is essential to plan the aspects related to marketing, choosing the objectives, strategy, and communication that will lead us to be chosen by buyers.

The exhibition, intended as h2h interaction, has grown over time: formerly it was a communication tool to promote a sale, today it is a business enabler that leads to create and tell experience. The fair has evolved with the aim of creating values and with modern technologies it gives the possibility to be seen online and chosen by specific users, as in the case of online matching (in b2b key).

In ancient times, the trade fair was mainly a meeting place between supply and demand (thinking about the market), today, instead, it integrates with other valuable tools that lead to the exchange of interests, experiences and is an important means of promotion. As opposed to the now predominant online marketplace, the fair is a place to live with all the senses the experience promoted by a brand.

Why exhibit?

A fair is a place where you can learn about and integrate best practices with those that already represent your company. It is a place where your customers can learn about new trends and the way you tackle them, it is the place to connect directly to the final consumer, through buyers and the right place to get immediately visible results.

According to modern statistics, 75% of small and medium enterprises invest in the fair tool to establish contact with the market, in order to meet customers, establish relationships and transmit feelings (customer journey).

 “People do not buy goods, they buy relations, stories & magic” [Seth Godin]

There is no other way to achieve as many goals at the same time as the fair, which also allows us to: project the image of your company abroad, illustrate the strategies that distinguish us, present your products and get feedback directly from the market and thus support sales.

It is possible to participate in trade fair events as individual companies or as a group, sometimes financed by regional or national actions in your country.

Planning the exhibition

The keyword is planning. Choose the fair carefully to avoid spending your budget on a fair that cannot or does not have the capacity to achieve your goals. Consider the possibility of repeating a tradeshow in the following editions, in order to consolidate your position and gradually improve your presence.

The choice of the fair is of particular importance: for example, you can focus on an event that has a certain popularity and work with the masses or a niche fair that brings us only the buyers you are interested in. It is good practice to visit the fairs as visitors before choosing to exhibit at that disputed event.

You can use trade fair search tools that provide qualitative and quantitative information. It is advisable to locate a trade show based on the target market.

Assess the costs of achieving the objectives. Balance direct costs (organization, logistics, suppliers, etc.), invisible costs (personnel who accompany us at the fair and are therefore absent from the company) and indirect costs (cost of additional personnel at the fair).

Entertainment during the exhibition

It is vitally important to be effective at a trade fair and to achieve the objectives you have set yourself (visibility, contacts, sales, etc.) to be attractive. One of the latest trends in trade fair marketing is to create entertainment that revolves around the main event: festivals, congresses, gala evenings, presentation speeches and moments of fun will bring your company to relate with the surrounding environment. The events mentioned are well associated with the business aspect and aim to create networking, matchmaking, and relationships in general.

We, therefore, consider the possibility of organizing events related to the fair, in a relaxed and intimate atmosphere, such as a dinner with your customers, a cultural evening, an open public event to consolidate the relationships established during the event.

Training of staff at the exhibition booth

The task of the staff in charge of representing your company at the fair is to create engagement. First of all, they must be able to identify and distinguish the curious from the potential customer and dedicate the right time to each of them. It is advisable that they are a member of the company team who knows the company and its characteristics.

The staff must be properly trained and qualified. Careful planning will lead the staff to create a productive engagement. It will, therefore, be necessary to be prepared on: what to communicate, to whom to communicate it, the objectives to be achieved, the necessary budget and the related activities to be prepared at the fair.

The staff must also be prepared on the culture and customs of the market in which the fair is operating, and preferably be able to communicate in the buyers' language. In this regard, it is advisable to hire local staff through specialized agencies. It is particularly important to know the local culture and bridge the cultural gap to filter the information you collect during the event.

During the exhibition

After carefully planning the fair months in advance, you can develop some actions related to your presence at the fair. For example, consider inviting the press and journalists to your stand, inviting them for a cocktail party or a presentation. Prepare and distribute documentation in languages, such as brochures, information about your social channels, blogs, videos and the tools you use to tell the story of your company.

We can also prepare gifts or gadgets for those who will visit us at the fair or offer spendable online codes dedicated to customers who have visited your stand. A welcome kit, suitably localized in the visitor's language, will provide information about the features of your company and summarize your proposal of values.

Don't forget to advertise in advance your participation in the event by creating hashtags to monitor during and after the event, telling the pre/inter-fair phases with live streams (Facebook or Instagram Live) of the event or creating landing pages on your website inviting buyers to the fair.

During the fair, it is useful to schedule the activities in such a way that you can take the time to dedicate to networking.

After the exhibition

Moreover, it is important to use customer cards that will provide us with data with which to enrich your database and allow a commercial follow-up as well as the elements to evaluate your experience at the fair.

Most of the contacts will take place at the end of the fair: the follow-up is vital to understand what kind of person you are interfacing with. You will, therefore, be able to thank visitors, send them your company profile and possibly schedule a second follow-up.

Always remember to contact online who you have met offline!

Communicate your brand abroad

Communicate your brand abroad

 

Communicate your brand abroad

In the previous article, we addressed the internationalization of business abroad, offering ideas and strategies for dealing with and selling products and services in foreign markets.

Internationalization, together with multilingual SEO and brand communication in a foreign key, are the aspects of language consulting that Translations Universe is able to offer to localize its business abroad.

An important tool for exporting services and penetrating foreign markets can be the "Network Contract". This type of contract, regardless of the type of company, whether it is a limited company or a sole proprietorship, allows collaboration within the framework of a common program. The purpose of this contract is to develop, carry out joint research in order to exchange information (about the market or foreign customers) or to offer training to deal with a foreign campaign.

The basis of the production of a network contract is based on the strategic planning of business techniques, export management, and preparation for export. You need to be prepared to achieve the goal of selling on foreign markets or creating fruitful partnerships with distributors located in those markets.

Export readiness is a fundamental aspect, because, as discussed in the section on internationalization, it is necessary to know the cultural aspects related to a country that has been chosen as the target of its campaign.

For this purpose, a strategy to achieve the objective of foreign communication of your brand is certainly to seek an interlocutor who supports marketing at the local level, in the form of joint ventures. Being able to count on a local branch is an aspect that can strengthen or control the sales process.

The Joint Venture can be structured in different ways, in ascending order according to the incidence that the foreign partner has within the established company: the branch, the subsidiary, and the affiliate.

Whatever form of Joint Venture you choose, you need a marketing action that aims to communicate the perceived value of the business. Remember that, the action that aims to increase the perceived value of a brand, tag and focuses on the end-user (h2h => human to human) because it is the human being who reads, becomes attached to the brand and will probably repeat purchase once you choose our brand.

Under these circumstances, the distribution action can take on a direct character (if we are moving in the foreign market) or an indirect one (if we rely on a distributor - e.g. ex-works export mode).

In both cases, it is necessary to communicate to the market, strictly in the language of the end-user, the elements that led us to collaborate with local partners.

Brand value

By offering access to the product/service in the local language, it will be easier to give purchasing value to your brand (logistical and organizational value). It will be necessary to communicate what your product/service does and how it does it (technical and functional value), what the company offer represents for the customer (psychological and emotional value). The right combination of the above-listed values will communicate to the foreign customer guarantee and reliability, in order to generate wealth for the company that interfaces with the market in which the customer operates.

The value of a product/service is subjective for each customer and is enriched by the experience that the customer makes at the time of purchase. In this regard, we would like to remind you that pre-sales assistance, customer care, the added value of rapid delivery, reliable service and a return/replacement policy are all factors that contribute to improving the purchasing experience.

It is important to communicate to the customer why he is buying a value by choosing our company and therefore induce him to buy emotions related to our brand. To this end, it is useful to create some predictions, provide explicit or implicit promises related to the buying experience of other users (reviews can be a useful tool to communicate this aspect). We will have to give a specific meaning to our product/service and its characteristics and convince the customer to prefer our brand over the competition.

The criteria for measuring a brand vary according to specific aspects:

  • Attribution: Did customers perceive the brand as the source of benefits?
  • Conviction: Do customers know that the benefits are achievable? How quickly? What is the degree of satisfaction?
  • Desire: Does the purchase originate from the expectation of the benefit?
  • Difference: Is the brand perceived as the only source of benefit?

We underline the importance of communicating the values of a brand on a single channel scale (omnichannel), omnichannel means the integration between all the digital and traditional commercial channels of a company, designed to intercept the greatest number of customers both offline and online.

Digital channels, however, maintain primacy in governing the entire customer experience, regardless of where the product or service is then purchased. In practice, with omnicanality:

  • Traditional shops and companies sell their products on marketplaces, personal websites and social networks with integrated systems also at physical points of sale;
  • The big names in e-commerce have also understood the importance of offering an all-encompassing experience and are developing physical stores integrated with digital channels;
  • On-site events are useful to raise customer awareness of the benefits of choosing our brand;
  • The use of social channels is now integrated tools, in terms of sales and communication, that allow you to distribute and tell the brands.

The use of multiple sales channels and communication must tell the product/service to the reference market, leveraging the culture of the target country (e.g. if we produce beer, we will produce more carbonated beer for an Italian customer and less carbonated beer for a German customer). The type of communication to be adopted is therefore linked to the cultural aspects of the destination country and is directly governed by the linguistic habits of that country.

Concept development for sales abroad and brand generation

There are several strategies we can adopt to promote our brand abroad. We can adopt a differentiation strategy that leverages the characteristics that our brand, with its services/products, communicates compared to competing brands. Or, we can count on a disruptive strategy that communicates the characteristics of our brand in an explosive way in order to enhance the image that we want to convey abroad.

The levers of the marketing mix (product, price, place, promotion) help to communicate to the market the elements that have led us to a particular market, directly or indirectly, and therefore essential to the communication strategy that we intend to adopt.

We would also like to remind you of the fundamental importance of registering your trademark in the reference markets, in order to be able to defend the ownership of the brand and guarantee the exclusivity of distribution.