Offer customized automatic translation and integrations, so much needed by the majority of customers today
It is not a secret that more than 70% of the world's largest buyers of language services recently adopted AI translation (MT) as a part of their translation and localization workflows. It is also not a secret that most LSPs missed that boat in favor of several world’s largest super agencies, which leveraged this shift to consolidate the buyers even further and limit smaller players' ability to sell to them directly.
What is less known and visible is the second wave of MT adoption happening right now, where most medium and small businesses actively deploy MT for various translation needs. Most of them realized that the quality of raw or customized MT is good enough for some content types. And they have lots of content they didn’t translate professionally before as the cost was high. So they are actively looking for products that all their employees can use to translate different file formats and content types on the fly without emailing them to an agency. Smartcat knows that for a fact as we get hundreds of such customers coming to us every month, among them are the world's largest brands and small local companies alike.
The problem is that they don’t get the solution from you, from their preferred local LSP vendor. And once they find Smartcat (or DeepL, ModernMT, you name it) - they are very much inclined to explore other LSPs who can do PEMT in that new environment they have just adopted.
This is a very real threat to the retention of your existing customers and the professional translation revenue you get from them.
You are also missing out on a whole new revenue stream from the automatic translation that is growing much faster than the professional translation track. And this is a recurring subscription revenue that doesn’t require project management headaches and doesn’t have production costs for you.
We can give you a product for automatic translation that your customers will love and jump in minutes without special training. Once you try it, you will see it is very easy to use and by far exceeds everything on the market in immediate value.
That is why we have seen successful adoption of this product by many of the world’s leading companies recently, and we want your company to become among the first in your market who will be able to provide it to customers.
You don’t need to be an expert in MT or cloud technologies or even in sales of SaaS products - it will work like magic. You will just need to send a link to a customer with their unique access to the product and share explanatory videos. You can also make a video call to explain how it works, and at your request, one of the Smartcat specialists can be on such calls with you.
The magic is also in Smartcat's unique business model: we don’t charge per seat, so they can bring all employees, and it won't increase the cost. Each customer will have 15,000 words for free every month, so there is no actual selling at the start - you will bring the pure value for free.
Once they engage with the product and love it - they will start translating more and will need to buy a subscription, and you will get 30% of subscription revenue from that moment—every month.
Our product is based on Smartwords technology, which is the same tech that you use for pre-translation when working in the Smartcat editor. We call it automatic translation because AI translation is just one component in it. The others are translation memory, glossary management, smart placeholders, segmentation management to keep layout for any file format, etc. So it provides higher quality and dramatically bigger value for customers than raw MT.
In addition to that, here are the unique values that only you and your customers can get:
You can customize Smartwords output from day one by making your TMs available specifically for your customers. If you had a history of translation for the customer and their industry in general, your TMs and glossaries, when mixed into Smartwords, will immediately give much higher quality output. Your customers will be happy to see the difference with raw MT quality from the first experience. More importantly - it is only you who can share these TMs with the customer, and so they can’t get a similar quality automatic translation from anyone else. This will not only help you retain customers who are in search of an MT solution, but also show your differentiation and added value compared to any other vendor on the market.
When a customer uses the product - they consume their own Smartwords balance, so your balance stays the same. It means you can reduce your own cost of ownership for CAT, TMS, and MT, thanks to that.
No, the opposite is true. You can retain your customers much better after you position yourself as a technology expert, giving them the product for automatic translation. With the help of your unique linguistic data (TMs and glossaries), your customer will have a much better customized automatic translation that no one else can provide. It increases your value and customer retention.
Also, you will be assigned to all PEMT projects as a default vendor. This is a direct way to get more revenue from customers that deal with several vendors as it automatically shifts more business to you.
In reality, customers can choose to work with other vendors instead of you at any moment, and finding them is ridiculously easy without Smartcat in this overcrowded market (they are probably calling your customer every day anyways). So by connecting with your customer via a valuable product, you dramatically increase retention and revenue too.
Still, if at any moment in time, the customer you brought to Smartcat decides to try other vendors, Smartcat will pay you 30% of the marketplace revenue it will make from any such transaction.
There is one more unfair advantage and powerful weapon you can use against your old-school competition. This is Integrations!
Integrations are a must for the majority of customers who buy translations regularly. As well as for automatic translation, customers are searching for a way to connect their CMS, document management, CRM, support or product information or design systems, or code repositories with translation workflow to avoid manual extraction and re-insertion of content all the time. So if you don’t provide them, you have a very high risk of losing customers to the largest agencies or technology platforms, which very often leads to a service vendor change too.
In Smartcat, Integrations are available for all end customers for free. So you can consult your customers on how to set integrated workflows and then enjoy being their default vendor for all human services. Also, customers can benefit from using Smartwords (automatic translation described above) via Integrations - this opens a bunch of new user scenarios. For example, customers can use Smartwords to translate requests to support, or scripts in their call-center, or knowledge base of their product, or non-critical content on their websites. It will all work automatically with the help of Integrations and Smartwords. Just a couple of magical clicks, no coding, engineering, or special knowledge required. And we are here to help you do that for any of your customers - just let us know.