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Marketing Strategies for LSPs
by Hélène Pielmeier, Benjamin B. Sargent
March 03, 2014
March 03, 2014

 
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Summary
Word of mouth that stems from production excellence remains an effective method to acquire new clients. However, that isn’t sufficient for language service providers (LSPs) to grow their businesses sustainably. Advancing the message about a company’s core competency requires building awareness of the brand – and eventually brand preference – to help the marketing team deliver new leads that sales can then exploit to close new business. The challenging part of this exercise is to identify marketing channels appropriate to the LSP’s expertise and service lines, and then prioritize marketing activities accordingly.

In October 2013, Common Sense Advisory conducted a survey of 371 language service and technology providers to assess what marketing tactics they deploy, which are most successful, and what budget and staffing levels support those efforts. This report constitutes a useful benchmarking resource for LSPs of all sizes that already have a marketing function, strategy, and budget in place – and for those just moving in that direction. In this report, we cover:

  • Information Sources. We provide details of the demographics of the survey respondents and the data we present in this report.

  • The State of Marketing at LSPs. We present results from the survey on the team size, typical marketing budgets, common activities employed by LSPs, and the perceived effectiveness of those tactics and strategies.

  • Planning a Marketing Strategy. We include information on how to establish goals for your marketing efforts, develop a marketing plan and budget, target different markets, and assess the return on investment of your efforts.

  • Recommendations. We offer insight on the basic elements of successful marketing strategies.

  • Appendix. We provide detailed data on marketing activities by company size as well as marketing spend and team size based on a series of variables.


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    • Technology Vendors
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    Pages: 57
     

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