A translation project for a company is an investment aimed at internationalizing the product or service it offers, reaching potential target audiences abroad. Technology breaks down barriers and makes it possible to globalize markets wherever you are, as long as there is digital access for all.
But what about measuring ROI in a translation project? What percentage does translation represent in the company's bottom line? Let us explain.
ROI (return on investment) is a financial metric for calculating the ratio between investment and profit. So, it is data with mathematical logic and, as such, is expressed numerically.
But when we talk about measuring return on investment in a translation project, we need to take all the parameters involved in the project into account:
So how much of the ROI equates strictly to translation? Although it’s difficult to express in numbers how much of the profit can be attributed to the explicit cost of the work of professional translators, we can quantify how collaborating with a quality translation service benefits ROI.
Although the digitalization and globalization of companies was already a reality, the pandemic period intensified this process even further. An increasing number of online shoppers are demanding a personalized shopping experience in their native language.
This is why translating your project benefits your ROI.
It may not be easy to measure return on investment in a translation project, but what is certain is that undertaking a translation project with an expert translation agency always benefits the company's bottom line and image.