Did you know that U.K. event organisers hold more events internationally than event organisers from any other country? The event industry actually ranks in the top 10 U.K. service exports. In 2018-2019, just 23 UK based organisers held over 1000 events outside the U.K.
And it’s not just U.K. organisers that benefit from how international events are: a Business Visits and Events Partnership (BVEP) report published in 2017 found that Britain’s leading U.K. based exhibitors generate 72% of their earnings overseas, which equates to around £2 billion of export earnings.
A study by the European Commission listed the use of professional translators and having a language management plan (or strategy) as two of just four key tools linked to higher performance in international trade. Small and medium sized enterprises investing in these tools achieved export sales 44.5% higher than those who chose not to invest.
So how could a professional translator support you and your business? According to Harvard Business Review, “there is an undeniably strong link between in-language content and a consumer’s likelihood of making a purchase”. Almost 75% of European consumers spend most or all of their time on websites in their own language, with almost 20% never browsing in a language other than their own. Are your websites in the languages of your clients and visitors?
Common Sense Advisory, a market research company specialising in the language services industry, found that over 56% of those surveyed said that having information in their own language is more important than price. This means that over 56% of consumers are willing to pay more if you provide information in their own languages. 42% said they never purchase products and services in other languages. Do you have all your exprom, sponsorship and sales material translated into your customers’ languages?
According to Harvard Business Review, “translation isn’t the only thing that companies must do to reach a global customer base, but it’s certainly one of the fastest, easiest, and most frequently overlooked”.