LocFromHome2020: Identifying OHT’s Business Identity
OHT's Head of Strategy Nir Sabato took the #LocFromHome audience through a process to help them identify their own unique business identity.
A pivotal localization industry event, LocFromHome keeps localization professionals current on key industry issues. This year’s talks explored four pre-selected topics: Business, Productivity, Engineering, and Outlook. Within these topic areas, participants were able to explore global trends, discuss business strategies, and learn about useful productivity tools. All from the comfort of their homes. We’re especially proud that Nir Sabato, our Head of Strategy, was selected to present on How to Find Your LSP Identity. In case you missed the event, you can read the summary of Nir’s presentation below.
Focusing on this, he posited, would help them identify the niche in which they could provide the most value and expand their business opportunities.
While often companies believe it is most profitable to offer blanket services to everyone, Nir offered an alternative point of view: serving a specific niche can increase business, while clarifying your advantages over your competitors, setting you up as a thought leader in your niche and crystallizing your definitive USP.
When embarking on such an exploration, a company must first ask: “What are my top strengths? and “Which markets do I serve?”
To see how this works in practice, Nir walked the audience through OHT’s recent company changes.
How to rule your market like One Hour Translation
OneHourTranslation was born as the first on-demand translation solution. Pioneering its direct provider to consumer technology, the company allowed consumers from anywhere in the world direct access to top quality, professional translators at a reasonable price, and with a quick turnaround. Over time, the company grew to serve an extensive number of language pairs and clients in every vertical, demanding ever specialized knowledge, like legal, medical, and marketing translation services. In more recent years, OHT ventured into highly scaled translation projects as well, adding integrations to all the major MT engines, TMS technologies, and offering machine translation with post-human editing, or MTPE.
This year, after onboarding a new CEO with a fresh vision, we began to evaluate our activities to better define and expand our business model. First, we looked outward: consulting with market experts at Nimdzi, analysing translation and localization market trends and evaluating potential market sizes and segments. Then, we supplemented this information by looking inwards: We examined our unique strengths and assets as a company.
We surveyed our international talent pool to find out what other services they provide. We listened to what our clients had to say about localization industry challenges faced, and potential solutions that can help ease these difficulties. Lastly, we examined what would allow us to continuously maintain innovation at the core of our expanding activities.
With core strengths that included a large international network of translating talent and a strong technology base, we understood that we could expand our offerings beyond translation, to include complete end-to-end localization services.
New niche, new opportunities.
This new direction transformed OHT’s activities this past year. Instead of focusing the core of the business on engaging in short term translation transactions, we’ve worked on enriching and deepening long term partnerships with our enterprise clients. We’ve focused on launching larger more strategic localization projects, adding language managers, dedicated account managers, and localization experts.
We’ve enriched our multi-market expansion solutions, offering a full blend of localization services. These include voice-overs, international SEO, multilingual content writing, Local Insight Reports, and more.
Our strategic growth model allows us to leverage our existing strengths to forge into a burgeoning market and deliver multi-market services for an ever-growing need.
How can this model help you?
What can other companies do to learn from OneHourTranslation’s strategic growth experience?
Sabato recommends that companies ask themselves the following critical questions: are there certain unique projects that clients are requesting? What are your specific assets? Do you have the necessary assets to deliver these projects at scale? Can you build new capabilities to assist you in accomplishing these tasks?
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