Culture

So accepting that there is at least a perception that local is ‘easier’ on both sides of the supply chain, I also think that there may be more subtle forces at work here. We all spend our lives linguistically and culturally adapting communication assets for our clients. Clearly, if there is a monolingual Korean speaking client who wants localization services, Conversis is not the supplier for them as I have no Korean speakers on staff. So even in the Language services industry, in some instances language is occasionally a barrier.

But interestingly, I believe that cultural preferences are also a barrier. There is not the space in this article to do justice to the works of Hofstede, Trompenaars or other culture academics and commentators, but suffice to say the dynamics that affect our clients also affect the localization industry. Clearly, there are obvious differences in Eastern and Western cultures, but also more subtle ones between Americans, British, Scandinavians, Germans, and French and so on. As human beings our temptation is to migrate to that which is familiar and comfortable. Communications that are styled in a way that is suitable to our upbringing, experiences and preferences. That guy in the next town seems a lot like me, I like him!

On the doorstep

We continue to strive to be relevant and attractive to buyers on the international stage. The aspirations I have for my business means that it is worth the investment and commitment to do so. On a personal level, I will continue to rack up the air miles. Often this is in the hope rather than expectation of winning a new client. The long lead in times mean that the commitment needs to be there in a situation where, ultimately, they will either deal with you or not and it is only through this courting period will you find whether there is a match which will lead to a mutually rewarding relationship.

But in doing this we will not forget the opportunities that present themselves on our doorstep whether they are local offices of MNE’s or domestic companies looking to break foreign markets. Sometimes easiest is also best.

This is the challenges that face all small and medium LSP’s. In the end it depends on what the ambitions are for the business and the way you want to do business. In reality there should be no barriers that cannot be overcome for LSP’s to sell internationally or for clients to buy out of their domestic market. But, as always the decision will come down to a balance of factors and often the geography is a heavily weighted one.

Economics

If we accept this premise, the rest is down to economics. It’s less costly in terms of expense and time to manage local clients rather than international ones. Conversis generates around 50% of its income from our domestic market. The other 50% of the revenue is split equally from our clients in the USA and mainland Europe. Consequently I spend around a third of my working life traveling to these destinations as well as the trips made by other members of the team. It works for us, but takes some business and personal commitment and I can understand the temptation to stay local.

The alternative to this relationship style would mean supporting the drift towards commoditization of translation services. Personally, I think there is a place for commoditization of some of what we do. Price competition for words at its purest. But without the human element it becomes the default setting and clearly there shouldn’t be a one size fits all approach. It depends on what the assets are, who the consumers are and what is the purpose of the communication. It’s this diversity that makes the need for consulting and exploring best practice and the best approach so important. Value for money is important, quality that’s fit for purpose is important and a drive for continuous improvement is important. And, I contend, that face to face is important.

Horses for Courses

In saying all this I am aware that Conversis occupies a place in the market that is not shared by everyone. What works for us, doesn’t necessarily work for other LSP’s. We tend towards the external communications end of the market, typically we deal with large multinational corporations and have multiple and multi layered relationships within that corporation. I therefore consider effective relationship management to be a core competency of the business.

Long conversion cycles

This is all well and good with clients we already hold. But what about winning new ones? I calculated, on average, that it takes 20 interactions to win a new client for Conversis, with 3 of those face-to-face. These interactions typically take place over many months and in some cases years. It takes real commitment and often leaps of faith to stick with this level of activity over a period of time where there is no guarantee of success. So much easier if that client is less than 100 miles away!

Another area in which we may differ is our lack of international offices. At the risk of being provocative, I have a sign in my office which says ‘keep it real’. This is not me trying to be cool (that ship sailed many years ago) but that I want my business to have a ‘what you see is what you get’ approach to our clients and prospects. Not for us virtual offices where we pretend to occupy geography just for appearances sake. So we want to develop international offices when and where it makes economic sense to have a proper presence and there is a real demonstrable benefit for our clients.

In the meantime I, and some of the team, will continue to be British Airways, American Airlines and Lufthansa’s favorite people. We consider our physical presence, at our client’s place of work, interacting with them and their colleagues a critical part of what we do. Whether they are domestic or international clients.

Part three coming soon!

I arrived in this industry ten years ago fresh from a global bank – ‘the world’s local bank’ no less – and fully expected my newly minted company to sit here in rural Oxfordshire, UK serving clients from every corner of the earth.  A bit like HSBC in fact. Or at least a very small bit like HSBC. So we engaged the services of a Texas based PR firm, identified translators from every continent and I racked up the air miles and waited for those exotic clients from foreign lands to beat down our door and our email inboxes.

But as we sit here celebrating 10 successful years in business in 2013, I reflect that the core of our business is still in our domestic market. Of course, we serve many clients in the USA and Europe, but in many instances, the origins of these relationships were via contacts here in the UK. It seems that we are not unusual in this regard, according to Common Sense Advisory, geographic location is the third most important factor for translation buyers after price and speed.  So why is this manifestly global business so often still bought locally?

Relationships

It’s all about relationships. And even in this digital age of email, video conferencing and telecommunications you still cannot beat face-to-face. I think that locally sourced translation is a consequence of needs and pressures on both sides of the client/vendor relationship.

From the client side, we need to understand the real trust needed in selecting a translation supplier. I know it’s a business cliché and that trust is required in all business relationships, but this need is heightened by us sending completed materials back to our clients that they often have no way of validating until it leaves their inbox. Put another way, how are they able to assess whether the Japanese translation of their website we have just completed is of the correct quality and what they wanted until it is validated by a Japanese speaker, likely a country manager in their own organization?

Most of the clients we deal with (the people not the companies) are in large corporations, fighting for influence, driven by time and budget pressures. Their reputation is on the line as well as ours. It’s much more comforting to be dealing with the business you see, ‘local’ to you, faces you know. On your doorstep if a problem needs to be solved. I am talking here about the individuals who manage the projects day to day from the client side and not necessarily procurement or purchasing professionals.

Practical issues

Throw into the mix the inconveniences of time zones, different currencies and clashing national holidays there is a temptation to stay local. But even amongst the smallest of LSP’s there is now the ability to flex the service offering to meet client needs wherever they are in the world. At Conversis this is a regular occurrence and we should see these issues as perceptions rather than problems in reality.

Consultative Sell

The  natural inclination therefore, is for clients is to go local and that is mirrored on the vendor side. I am aware that there are schools of thought that consider relationship selling to be dead. But, to paraphrase Mark Twain, reports of its death have been greatly exaggerated. For me, with either existing or new clients, localization is still a consultative sell whether this is with expert or inexpert buyers. It is necessary in building the relationship to get underneath the skin of the particular clients localization challenge. Understanding their needs, providing insights, challenging norms and suggesting solutions.

This is particularly important for businesses like Conversis. We are constantly competing in MNE’s for large volumes of business with some much larger competitors. In terms of size we can only lose out to competitors that may be 20 times our size. So we win our business by being light on our feet, more competitive, more innovative, more flexible and quicker to react. In my view, it is only possible to present those attributes with people with whom you have solid relationship based on trust.

Part two and three coming soon!

While both men have contributed significantly to the football world, they have also contributed a lot to the business world: Ferguson from a leadership prospective and Beckham from a branding perspective.

In 2011 we wrote an article about brand Beckham ‘Brand Beckham: Five lessons on international marketing from Posh & Becks‘. The article was one of our most read article since we started writing The Conversation, so we thought what a fitting time to recap on what it is about the Beckham’s that has made the international phenomenon that is Brand Beckham.

1. International recognition: Visiting foreign countries to gain new business is fine, however if you want to truly succeed then you must have a stronger presence there. To fully understand the culture you need to live in a country. By living there, you then have a presence and will receive recognition. The Beckham’s have lived in Spain and LA, and most recently David’s base has been in Italy. While living abroad they still frequently returned to the UK. If you want to expand abroad – don’t forget about your roots!
2. Victoria was always reluctant to move to Spain, and her reluctance meant she spent very little time there. For those of you who might not remember – this led to problems for the Beckham in the form of ‘Rebecca Loos’. If you want international success you must be committed to it and be available to manage the processes.
3. Learn the Language: When Becks moved to Spain both he and his children fully embraced the culture and language. If you want a global brand then you need to have people working with you that can speak the necessary languages to communicate with local customers.
4. Make friends with locals: David and Victoria very quickly built close friendships with the celebs in LA, Tom Cruise, Eva Longoria, Will Smith – this not only got them media coverage but also gave them credibility. When going international make friends with the right (influential) people.
5. Don’t lose your identity: David and Victoria have not lost their English accents, culture or commitment to England and English football. People are attracted to your brand in the first place for a reason – don’t forget that reason when operating internationally.

Read more:

The Conversation, Management Lessons from Ferguson, May 2013

The Conversation, Brand Beckham: Five lessons on international marketing from Posh & Becks, April 2011

As the army troops continue their evacuation out of Afghanistan back to the UK, there is an ongoing battle facing interpreters who have worked alongside the British Army throughout the war. Unlike the interpreters in the war against Iraq, these interpreters are not being offered any asylum or protection when the army leaves putting them in grave danger.

Last week, British veterans who served in the Helmand province called on the British Government not to abandon the interpreters who worked with them, enduring the same risks and hardships. Their appeal was supported by a petition signed by 78,000 members of the public. A non-profit charity Red T is fighting for this specific cause.

Colonel Stuart Tootal, who led the Helmand battle group in 2006 said “They absolutely saved lives. They read the ground, judged the temperature, interpreted our intelligence. They would have faced considerable risk on leave. I think we owe them a lot of gratitude”.

Offering asylum to interpreters is one of many ways to help them when the army leaves. Offering support, protection, insurance, guidance and safety within their own country is another. The point is the UK government need to help.

The Times, We can’t forget debt to interpreters, say soldiers, May 2013

Red T

We are almost half way through the year and what a great start we have had.

Our ten year birthday celebrations started the year off on a top note and it has continued ever since!

We have had some great feedback from our clients on our Feefo page (if you’re reading this and you’re our client and haven’t given feedback yet then now is the time), received a record number of new clients, added new members to the Conversis team, we are getting ready to launch our new website and now to top it off we have been selected as one of three finalists in the Oxfordshire Business Awards for the ‘Excellence in Customer Care’ award! There are soooooo many factors about this that is super exciting!

To be a finalist in such an important category is, quite simply, an amazing feeling for us. We continue to work hard to be the best we can possibly be constantly reviewing our processes and service offering to be the best partner for our clients. We have built strong relationships with our clients and are very proud of this achievement (not that we like to boast).

Another exciting factor is the other finalists (BT and Miele) are international companies – we are an SME and competing against the top guns! Whoa!

Thirdly, translation and localisation is a service that receives very little visibility and often goes under the radar yet it is a crucial part of international success for companies so raising awareness of this is great. Also, customer care is a key part to successful translations, considering the work we return to clients is in multiple languages that they don’t speak and therefore they need to trust us to do a good job.

Finally – it’s our birthday year and we are in celebratory mode already so this is the icing on the cake. 10 years of successful business and finalists for a customer care award – all that is needed now is to win!!!

To start with his work ethic – over the years it has been reported that he works 18 hour days, is the first to be at the club and the last to leave. His commitment to success is reflected in his work ethic.

From the get go, Ferguson had a vision for the club. He joined Manchester United with a distinct and clear vision which was ambitious and daring. He also continued to grow the vision he had for the club identifying new ways to achieve this.

His ability to build a winning team by creating a ‘family’ like atmosphere has been key to the success of the team. Ferguson has worked to ensure his team members possessed a positive, winning attitude and encouraged players to build friendships.

Throughout his time in charge of Manchester United, Sir Alex has continued to have a belief that his team can be and will be the best. He used his managerial skills to ensure that all of his players had the same belief in themselves and in the team. Belief is the keystone of all achievement.

Finally – his industry knowledge and expertise has enabled him to truly understand the tasks facing him and the best ways to attack these challenges. Like any job, the more you know the better you will be and Ferguson has really taken this mantra on board.

So to be a manager like Ferguson you need to have:

1. A strong work ethic
2. A clear vision
3. Building the right team
4. Belief in yourself and your team
5. Become an expert in your industry

Read more:

The Independant, Sir Alex Ferguson’s leadership skills may be studied at Harvard, but is he right?, December 2012

Business Zone, Lessons from Leaders – Sir Alex Ferguson, October 2010

It was my pleasure this month to attend the Think Latin America conference in Dublin. Organized by my great friends Fabiano Cid, owner of CCaps and Ceci Maldonado, owner of SpeakLatan it was always going to be a lot of fun! They didn’t disappoint – thanks to both.

It was also a fascinating insight to the often dramatic development of business in Latin America. With my office based in the UK and being an enthusiastic consumer of the British press I am used to analysis of the growth in China, the challenges facing Europe, and the sluggish recovery in the USA. Latin America seems somehow to fly beneath the radar.

The Economist and The Financial Times cover the region quite well but, in general, I would have to hunt for specific stories rather than be hit with headlines. I am sure that many in the UK are unaware of the emergence of a new generation of powerful global enterprises located in South America.

The worlds richest man, Mexican, Carlos Slim has amassed a $71 billion fortune through his investment in América Móvil, one of the largest telecommunications businesses in the world and other Latin investments. In general the Multilatinas (as they have become known) are becoming dominant forces on the world stage.

Brazil’s Petrobras is an oil and varied energy supply business partly owned by the Brazilian State and had annual revenues of US$137 billion in 2012. Mexico’s Grupo Bimbo owns Thomas’ Muffins, Entenmanns Cakes and major parts of Sara Lee Bakery business. Ecopetrol in Columbia is ranked in the top 300 of the Fortune Global 500 companies.

There are many more. This exciting region is not without its problems but is going from strength to strength. It warrants and deserves our attention.

1. Strategy: Marketers should sit at the board table and be involved in strategy. It is a marketer’s job to get under the skin of the market, the product, the customers and the competition – these four factors are hugely important when planning for the future of the business. A good business will recognise this; a good modern marketer will bring these qualities to the table.
2. Brand: The digital world has changed the way companies can control their brand. Marketers now need to ensure that their brand is completely transparent. To do this they need to have a clear, certain understanding of their companies brand and communicate these in a consistent manner. Possessing a strong brand has become one of the most important aspects for companies and for the modern marketer.
3. Experience: The saying ‘the customer is king’ has never been more relevant. When it comes to the experience, the modern marketer should keep the customer at the forefront of all ideas. Digital marketing has changed how experiences are viewed; they must be made as relevant, pleasurable, easy and useful as possible to give the greatest value.
4. Data: The ability to capture and create value from insight and turn it into action is a big advantage to the modern marketer. With this information comes the success of research, segmentation, marketing automation, targeting customer lifetime value models and optimising marketing effectiveness. The modern marketer should see data as an exciting, valuable tool enhancing the opportunities available to them.
5. Digital: While some companies/marketers think it is not relevant for them, they need to properly consider digital and change their culture and processes to become more digitally oriented. If you don’t get digital then you don’t get what it is to be a modern marketer.
6. Personalisation: It is not just for existing customers but a way to engage new clients. Personalisation is key when using digital marketing – it transforms what clients currently get and enables marketers to use everything they know about a customer to inform and optimise each interaction.
7. Technology: More and more marketers will need to use technology. Technology is an enabler so modern marketers must use it to the best of their advantage.
8. Creative: Passion, creativity, emotions and storytelling are just as important as the technology and in the insight.
9. Content: Content is more than a few words, its pictures, video, games, apps and events. It reinforces a brand’s credibility and it is a vital expression of the brand.
10. Multi-screen: Modern marketers need to market to different screens and experiences rather than different devices or channels. You need to see beyond mobile. Think TV screens, books are screens, in-store kiosks are screens, and billboards are screens. Think online, think offline – a modern marketer thinks about the whole customer experience.
11. Social: The ways we work and the ways we engage with our colleagues and customers has changed. “It is about creating businesses that have social in their DNA” according to Marketing Week. Social is not a choice for modern marketers, it is compulsory.
12. Commercial: Marketers need to be business and finance savvy. Take responsibility for revenue targets, know where money is being made and why and then optimise these areas.

Forbes has recently released a list of 138 women who have made it onto this year’s billionaires list. There were 104 on the list in 2012. Curious as to who they are? Below is the list of the top ten richest women in the world:

1. Liliane Bettencourt: At the age of 90, Liliane is the richest woman in the world. Her fortune comes from the company which her father started, L’Oreal. Liliane is not only the richest female but she is also among the top ten wealthiest people in the world! She is worth a whopping $30billion.
2. Christy Walton: Based in the US, Christy is the richest female in the United States. Her source of wealth came from her husband when he died in 2005. He made his fortunes from the supermarket chain Wal-Mart which has continued to grow since his passing. Not far behind Lillian, she is worth $28.2 billion.
3. Alice Walton: A sister-in-law of Alice and a member of the richest family in the world, Alice has also made her fortune from Wal-Mart. She is worth a staggering $26.3 billion.
4. Iris Fontbona: Based in Chile, Iris made her fortune from her husband’s business empire when he passed away in 2005. The now family run business is one of the world’s largest copper mines. Iris is worth $17.4 billion.
5. Georgina Rinehart: She is the richest woman in the Asia-Pacific region living in Australia. Her source of wealth is in the mining industry and she is worth $17 billion.
6. Jacqueline Mars: On par with Georgina Rinehart, she is also worth $17 billion. If her surname didn’t give it away, Jacqueline’s wealth comes from the company that invented the Mars bar. Mars is the largest candy company in the world and Jacqueline runs this with her two brothers. Jacqueline is also worth $17 billion
7. Susanne Klatten: She is Germanys richest woman after inheriting a 12.6% stake in the automotive company BMW. Between Susanne, her brother and mother, they own nearly 50% of BMW. Susanne is worth $14.3 billion.
8. Abigail Johnson: She is President of Fidelity Financial Services founded by her grandfather. She is one of the most powerful women in finance and the leading candidate to take over the CEO seat when her father Edward steps down. Abigail is worth $12.7 billion.
9. Miuccia Prada: If the surname hasn’t given it away, Miuccia has made her fortune through the fashion label Prada. She is now the lead designer for the brand while her husband is CEO. The company was founded by her Grandfather. Miuccia is worth $12.4 billion
10. Anne Cox Chambers: At the age of 93 Anne is the eldest lady in the top ten female millionaires list. She has made her fortune from Cox Enterprises founded by her father James in 1957. She is worth $12 billion.

All of these women have more money that any of us could even begin to comprehend. While it is great that the female billionaires list is growing annually and that there are more females now in the business sector, it must be noted that none of the top 10 have earned their fortunes without inherited the family business. I believe that this is partially down to generation expectations and perhaps in the near future more female billionaires will appear having made their own money from their own start-up companies – do you agree?

Read more:

Forbes, 2013 Billionaires Richest Women, April 2013