We designed a successful market entry strategy for a translation company that was establishing themselves in the United States. Our consultants worked diligently to map out the competitive landscape and to conduct a rigorous analysis of the market.
Our client’s mission was to become the fastest language services provider in the world. They developed a proprietary technology which enabled their translators to complete tasks more quickly and efficiently.
Though the company’s managers were confident that their technology and model would help them gain a foothold in the United States, they were uncertain about how to capture a sizeable market share in this multibillion-dollar industry.
Our team started the project by examining both the US economy and the translation industry, and by identifying the languages most commonly used in the United States.
After carrying out research into the language services industry in the US, we produced a detailed brief to help our client understand how best to approach US-based translators and prospective clients.
We additionally analysed nearly 50 major players in the market, over half of which we classified as direct competitors of our client.
Our consulting team investigated further into the positioning strategies of these competitors and the particulars of their products and services, including typical price points and the average delivery times.
Through our competitive analysis, we were able to pinpoint exactly how our client should position themselves to penetrate the US language services market and to strategically avoid harmful competition in their early years.
At the end of this process, we devised a go-to-market strategy in collaboration with our client which included actionable recommendations, ranging from businesses they should target to the budget required for hiring a team of talented local translators.
Our report has become a reference point for the client in the making of business decisions about their US operations. We have since began three projects with firms referred to us by the client.
“First Step Consulting consultants looked into the language services industry in the United States as we were getting ready to expand our business. They created a roadmap to help our team enter the US market. We often refer back to the report they provided, it is really insightful with practical suggestions."
— Cofounder, Translation Company