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Interpreting is Expensive … But the Alternatives Cost More

By: Jonathan Downie    Date: August 8, 2017

It’s always a surprise when event managers receive the response to their Request for a Quote for interpreting at an event. Even the simplest simultaneous interpreting setup seems to cost thousands of pounds. Is it really worth it?

 

There is no getting away from the fact that interpreting is expensive. And while the traditional justification has been to write long posts on how hard interpreting is (and it is hard) or to talk about the training interpreters have to take to be able to deliver at a high level (lots), that doesn’t mean a lot to you. No matter how good interpreting is, if it has no value for your company, it won’t be worth it.

 

One common response to the cost of interpreting is simply to decide to do everything in English. In some cases, that might seem like a very good short-term decision, especially as English is a global language. But what works in the short-term is often ruinous in the longer-term. Statistics from the House of Lords showed that companies in the UK lose out on £50 billion worth of contracts each year due to a lack of language skills.

 

English-only meetings and events might be cheap to set up but by displaying a lack of cultural awareness and language abilities, you will be putting customers off rather than winning them over. Conversely, when potential customers see that you care enough to have professional communications in their first language, they are more likely to see you as trustworthy and be more comfortable parting with their cash.

 

Choosing to do business in only one language leads to inevitable communication struggles. Every conference interpreter can tell stories of speakers who really should have used the interpreters that were available. For me, one of the most striking stories happened at a specialist construction event. Two Italian businesses had the opportunity to showcase their work. The first team presented in broken English, even though there were Italian to English interpreters available. The team from the second company noticed the train wreck that ensued and decided to speak in their best, most powerful Italian, which was then interpreted into English and then into French, Dutch and Spanish.

 

The difference was most noticeable after the break, just by looking at the number of visitors to the booths rented by each of the two companies. The first team, who used broken English, found themselves alone and bored while their competitors, who realised the power of interpreting, found themselves swamped with interest.

 

If there is a single best advertisement for the ROI of interpreting, it came last year, when I was interpreting for a British technical manufacturer, hoping to woo a French buyer into placing a large order. The entire meeting and the entire contract turned on a misunderstanding of a single word. The only person who realised what was going on and was able explain the problem to speakers of both languages? The interpreter.

 

One interpreter, one troublesome word, one large contract gained by the end of the two days. That was definitely money well spent. Interpreters, if recruited correctly, briefed properly and provided with the right setup will always be worth far more than you will pay them. Their work is the difference between an international meeting that changes the future of your company for the better and one that turns into a frustrating waste of time. Choose wisely.

 

And if you would like someone to help you choose interpreting that will deliver great value for money at your events, drop me an email.

Why Value-Based Pricing is Good for Business

By: Jonathan Downie    Date: July 26, 2016

We all know the feeling: we are talking to a client and its gets to that magic moment when they ask for a price. In a split-second, there are several questions going round your head:

 

  • Do I give them my standard price or offer a discount or even take the opportunity to raise my rates?
  • Do I charge hourly or daily or by some other measure?
  • What should I include?
  • Will someone underbid me?
  • How quickly should I send the quote?
  • How much room for negotiation should I leave?

 

Unless we have become too experienced or blasé that each individual assignment means little to us, that vital quoting stage can become a site of real mental effort. But there is another way.

 

It’s a way I first heard about in Warsaw at TLC 2015 when Alessandra Martelli of MTM Translations talked about negotiation. Rather than sending a price straightaway, she makes sure that she knows exactly what the client wants and then sends a price that details exactly how it will fulfil their needs.

 

She told us that making that one change meant that she now wins 80% of the projects she bids for. That is pretty amazing given what many of us in interpreting or the events sector might experience. That one figure alone got me thinking about how I relate to clients.

 

The next step in the journey was finishing writing my first book, Being a Successful Interpreter: Adding Value and Delivering Excellence. The key message of the whole book is that interpreters need to concentrate on the value they add to clients, over any other measure. The logical outcome is that we need to stop using “market rates” and a start pricing interpreting according to the value it has for each client.

 

Then today, the last piece of the puzzle fell into place. There was a discussion about pricing models in a Facebook group for professional speakers that I am a part of. Alan Stevens, an experienced speaker and media trainer in his own right, mentioned that instead of pricing according to hours spent or service, he talks to the client about what they want to gain from his work and prices accordingly!

 

Bingo!

 

While “market rates” seem to take away any need to make pricing decisions, they actually take away a vital point of connection with clients. Instead of finding out exactly what they need, we just slap a price on each day and waddle off.

 

Value-based pricing forces us to really think about how our clients are benefiting from our services and encourages us to be more transparent with the difference that we can make for their business. So the next time you are asked for a quote, take the opportunity to slow things down a little. Email (or even phone!) the client and talk to them about the value of the event for them. Start a dialogue about what success looks like for them and how much they stand to make from it.

 

Armed with that information, send them a custom-made quote that shows that you really understand what they are trying to achieve. Show clearly how you will deliver the service that your client needs and wants and price accordingly.

 

And, if you need an experienced French to English and English to French interpreter to help you deliver the goods, drop me a line.