Great leaders often get frustrated by anything that looks like a restriction on the growth of their business. They push themselves and their staff to find solutions to anything that looks like it might cause their company to stagnate. But often, the most obvious growth barrier can be missed.
Languages: a barrier or a door
One of the toughest barriers faced by any company is a lack of language skills among their staff. People who don’t understand you can’t buy from you. For those who don’t understand your brochures or websites or sales people, you simply don’t exist.
How big is this problem? In the UK, the All Party Parliamentary Group for Languages recently estimated that the UK companies lose £48billion per year in lost contracts due to poor or non-existent language skills. In my own work, this year alone, I interpreted for one company who were on the verge of losing a multi-year multi-million-pound contract due to language issues. After two days of interpreting and explaining, they qualified for the contract.
But if languages present a potential barrier, they also present an incredible opportunity. Every language your company speaks literally adds millions of people and thousands of companies to your potential client list. Even the steepest investment can generate unheard of ROI, simply by creating new markets for your products and services.
Where Conference Interpreters Come In
While any company that wants to reach international markets will necessarily have to look at multilingual websites, translating marketing and regulatory materials, and making sure that everyone understands contracts, before all of that you will need to build up a presence and credibility in your target market. Put another way, you can have the greatest product and the fanciest website but if you don’t spend time meeting people in your market, learning about them and presenting what you can do, you are throwing money down the drain.
Where conference interpreters and indeed any interpreters help is that they allow you to communicate face-to-face with potential clients. From trade shows to product demos and from PR stunts to press conferences, interpreters create spaces where two or more groups of people can use the languages they prefer and yet still understand each other.
A classic real-world case happened when a large construction equipment manufacturer wanted to showcase their newest lines to an audience of industry press. In that case, six interpreters, covering three languages, ensured that the presentations were as persuasive in Russian, German, and French as they were in English. The result? Positive coverage in industry press and increased exposure as a result.
Interpreting and Brexit
If you are a UK company trying to make sense of Brexit, the power and potential of interpreting is exactly what you need. You surely don’t want one country to be the upper limit of your growth. Now is a great time to launch efforts to snag new markets, while the doors are still open and the opportunities are still there for the taking.
And if you are an EU company wondering whether the UK will still be worthwhile, the time is ripe for you too. If you get in now, before any barriers are erected, you stand the best chance of establishing a market and place that can continue to provide much needed additional profit to your company.
So what should you do now?
Ask your marketing team to size up one EU country (or the UK) as a potential market. Look at population size, incomes and the like and then begin to plan an event to appeal to this audience. Then, while you are still at the planning stage, get in touch with an experienced conference interpreter and ask them to build you an interpreting dream team, to give you advice, as well as make your event sing. It’s one investment that reaps dividends.
Ready to talk about the potential of interpreting to grow your business, let’s have a chat!