It really is an era of limitless competition. This is true for every industry, not just any specific field. Of course, our translation market is no exception. Move away from entrusting translation companies that are searched on the Internet or asking friends nearby who can speak the foreign language to do the translation, Anyone can easily request translation on various platforms or enter the translation market through self-promotionI can do it now.
Emerging translation service platforms
A translation platform that is emerging recentlyIf you look at it louder There are two types:
It doesn't just target the translation market, such as a freelancer marketplace, but on a platform aimed at an industry where there are many freelancers, anyone can translate if they are good at promoting themselves. If the number of requests increases and the satisfaction rating is high, the number of people looking for it will increase. Instead, since it is the most aggressive type of competitive platform, the lower limit of the translation unit price itself will drop significantly.
Also, although it is a translation platform (without acting as a PM for an existing translation company), there is also a platform where incoming requests are delivered to multiple translators, and the client selects one of them by comparing the costs proposed by the translator. There is an advantage that translators can offer translation costs based on their own confidence, but since this is also a competition (if there is no history of doing business with each other before), translators with some experience will eventually be more likely to be selected if they offer a relatively “low” unit price.
With the advent of various types of platforms like this, not only the requester but also the person receiving the request I no longer think of translation companies as the only alternative. From the client's point of view, there is an advantage of being able to select a translator by comparing their biography and experience at a lower cost. From the perspective of a client, that is, a translator, you may be able to make more profit than when you go through an intermediary company, and you can easily access the translation market because the barriers to entry are lower.
So now you don't have to find a translation company to do the translation? Why are translation companies needed even when direct transactions with clients and translators are possible (if translation companies are still needed), and what efforts are needed to survive with the unique strengths of translation companies?
A translation company's unique strengths: databases and accumulated know-how
In fact, the most important thing is that a translation company is not just a place that plays a passive role in delivering and receiving requests. At first glance, it can be seen as the role of a translation company in the middle of forwarding a translation request to the translator and delivering the translation back to the client. But in fact, translation companies Manager role between client and translatorI'm doing it. It takes care of all the tasks related to translation for both parties. For clients Validate and recommend qualified translatorsDo it and do the best Constant communication with translators for translation qualityI will. Also for translators To be able to focus only on translation work and perform to the maximum We resolve clients' requests and inquiries in advance and receive and deliver necessary materials to translators. This is why translation companies make a certain profit from translation projects, and why they should. Therefore, if the translation is simply delivered without basic supervision or confirmation, and the client's inquiries and occasional complaints are passed on to the translator, the value of the existence of a translation company is bound to drop.
Also, the biggest competitive advantage of translation companies Years of experience as a data and translation PMThis is it. Even the most experienced translators won't be able to have as many materials as the translation company's data. There is such a difference in the range that can be covered. Translation PMs are also experienced personnel who catch and provide elements necessary for translation projects from a broader and broader perspective, even if they don't do actual translation. How much does this asset called data help improve actual translation quality, and how much translation PMs use their own experience and company know-how to clients or companies Being able to provide customized translation services is the core competitiveness of translation companiesThis is going to be it.
Translation companies' unique roles and values
Ultimately, these translation companies' unique roles and values must be fully appealing to clients and translators. The era of infinite competition means that anyone can enter, but that doesn't mean everyone can survive. Perhaps it could be a more advantageous market for translation companies that have real value. Therefore, in order to be a true winner, the client must provide a valid reason and value for the costs they are paying, and they must be able to trust that they are willing to pay those costs. At the same time, translators participating in a project through an agency rather than direct sales (other than simply being able to obtain a variety of work opportunities) is a real benefit for translators, and therefore, there must be a mutual understanding that the profit share between translators and translation companies is reasonable. As a result, this virtuous cycle of the industry ecosystem will directly promote the improvement of translation rates, which is a step forward regardless of the rate of inflation.
*This content has been transferred from Gicon Studio to Letterworks.
