(BOSTON) – Many translation companies wrestle with the question, “How do we boost our translation sales?” Simplistic advice abounds (“Just hire more salespeople!” “Charge your clients more!” “Sell to anyone who will buy!”) These short-sighted strategies typically fail due to a lack of alignment with corporate strategy, according to a new report from independent research firm Common Sense Advisory. The 45-page report, “How to Drive Translation Sales,” introduces a completely new method of translation market segmentation that is based on Common Sense Advisory’s localization maturity model (LMM).
“Buyers in many industry sectors are highly familiar with the localization maturity model, and are using it to benchmark their performance and improve their processes,” points out Tahar Bouhafs, Common Sense Advisory’s CEO. “Using the model enables translation companies to move away from selling commodity-style translation services, so they can become a trusted provider of multilingual business solutions instead.”
“Even the most well-trained, highly capable sales team is destined for lackluster performance if the strategy that guides them is flawed,” explains Doug Lawrence of Selling Translations®, who co-authored the report. “We’ve seen many translation firms lose significant amounts of money through poorly conceived sales strategies and ill-managed sales teams. This report shows translation sales managers and business owners how to avoid making the same mistakes.”
In addition to the brand-new model for segmenting the market using localization maturity, the report also offers:
· Industry averages for monthly, quarterly, and yearly translation sales quotas
· Typical compensation ranges for translation salespeople
· Advantages and disadvantages of hiring industry veterans and newbies
· The six models of dividing up sales territories
· The financial impact of profit-based vs. revenue-based commission structures
· Eight critical questions for defining a translation sales strategy
· Guidelines for aligning translation sales objectives with corporate goals
· Sample financial goals and sales targets for companies in different revenue ranges
· A checklist for creating sales targets that are realistic, time-bound, and achievable
· Pros and cons of giving translation sales managers a quota
· The five stages of translation sales team companies go through as revenue increases
· Advice on selecting industry verticals that align with corporate strategy
· The “top section” of the translation sales funnel that companies often neglect
· Evaluation metrics and tips on performance reviews
· A list of the most common reasons that translation salespeople fail
For additional information about Common Sense Advisory’s research, visit www.commonsenseadvisory.com.
About Common Sense Advisory
Common Sense Advisory, Inc. is an independent research and analysis firm specializing in the on- and offline operations driving business globalization, internationalization, localization, translation, and interpretation. Its research, consulting, and training help organizations improve the quality of their global business operations. For more information, visit: www.commonsenseadvisory.com or www.twitter.com/CSA_Research.