How Translation Memory Boosts ROI – A Case Study
It’s no news that translation adds a cost for any business; logic would tell us that the more content you translate, the greater this cost will be. But did you know of the savings that can be achieved over time through a Translation Memory?
A Translation Memory is the technology that stores previously translated content across any of your projects. This creates a resource of pre-translated segments that can be used in future projects, minimising the need to translate the content twice. Plus as the linguist is prompted to use previously translated segments then consistency in style is maintained too.
The result – enhanced efficiencies across cost and time taken to complete a project along with improvements in quality.
Over the last two years, our work with The Hut Group (THG) and the continuous development of their Translation Memory has achieved them an overall saving of 25% of the full quoted price on average, and has allowed us to deliver large volumes of translated content at pace (38 million words and counting).
Across the many brands we work with at THG, Lookfantastic – one of the world’s leading online beauty retailers – now has the largest Translation Memory, built up through multiple million-word projects. The average savings achieved by the brand stands at 35%, and in quarters where larger volumes of content were translated this rose to up to 59%.
The greater the volumes that are translated, the greater the savings that can be generated relative to what you’d expect to pay. In the case of Myprotein – Europe’s leading sport nutrition brand – high volumes of content have resulted in cost savings well above the average, seeing the extensive benefits a Translation Memory can provide.
In the journey of international brands to new markets, translation is key to success in engaging with a new audience and ultimately in the performance of the brand on a global scale. After one month of translation across multiple markets, Lookfantastic saw a 94% rise in website visits, and an increase of 74% in quantity sold.
In combining the skills of sector-specialist, in-market professional linguists with a Translation Memory, such results become more accessible, providing companies and brands the opportunity to expand their international reach further, at pace, and without the extra cost – all whilst maintaining brand consistency.
To discover more on how Translation Memory technology – a staple to all our clients – can help take your international goals further, reach out to our expert team today.