1
Our sales efforts part of our expansion campaign, which started in Q1 2020, are paying off within the media and market research industries, known as our primary targets.
But first off – why are media and market research companies our primary targets? That’s because the manufacturing industry often orders way more language-based services than other industries, having very large pieces of content usually technical manuals translated. And – manufacturing companies usually go through their media and market research partners to get their content translated. We therefore need to focus on the media and market research industries first, in order to increase even more our company’s revenue.
Now – as an illustration, we can confirm that the penetration rate i.e. active clients and hot leads is 32% within the Ipsos Group (market research, $1.9bn yearly revenue, 88 countries), 30% within the Havas Group (media, $2.5bn yearly revenue, 107 countries) and 25% within Ogilvy/WPP (media, $1.2bn yearly revenue, 110 countries).
We have now started expanding within the other WPP Group entities starting with Wunderman Thompson Group (90 offices worldwide), next will be AKQA Group then VLMY&R, Grey, Geometry, Group M, Mindshare, Mediacom, Wavemaker, Essence, Xaxis, Kantar, BCW, Hill + Knowlton Strategies Hill, Finsbury, Superunion, Landor, WPP Health Practice and finally UWG.
The Dentsu Aegis Network, another media giant which is also a Yazyk client ($1.4bn annual revenue) will be next. We have already expanded within the iProspect entity in Q1 2020 (9% penetration rate, 94 countries). We will then sell our services (translation, multilingual web, market entry services) to Isobar, Carat, MKTG, Merkle, mcgarrybowen, Vizeum, Denstu/ Dentsu X and Posterscope.
We aim to end the 1st phase of our global expansion campaign by the end of Q3 2020 which will generate increased revenue along the way (3 to 4-fold per month as a minimum part of our forecasts).
“Colder” prospecting campaigns will be performed by our team, towards the other media giants (including Omnicom, IPG and Publicis) and market research leaders (including Optum, Nielsen, IQVA, Experian, Gartner, Kantar, Epsilon, IHS Markit and GfK) in Q4 2020.
From Q1 2021, we will continue our expansion campaign towards other large accounts including the World Bank Group, BNP Paribas, Aberdeen Standard Investments, Yahoo, Arcelor Mittal, Informa, Sodexo, CBRE, European Space Agency and Datalogic.
We are still dealing with SMEs – mainly our existing clients but also prospects – through social media (Facebook page and posts in particular) although expansion through Multinational Corporations (large accounts / MNCs) is now key part of our growth strategy as it generates way more revenue. The average customer lifetime value (CLTV) is 8 to 10 times higher for MNCs in average.
2
The potential for growth, for the service part only, excluding revenue generated through the new SaaS based workflow platform, is therefore huge within this ever growing Language Services Providers (LSP) market that’s worth $56bn yearly, according to Common Sense Advisory (CSA) a research firm focused on content and language services.
Due to the changes in the world economy wrought by COVID-19, the LSP market is likely to grow even more moving forward as companies are requiring more and more remote marketing services including language services like translation for their now home-based staff, now unable to use onsite translators or interpreters when needed. We are 100% online based.
As a result of the recent sad events, still we have been able to overachieve its April monthly target at 221% and in May we are already at a third of our monthly sales target (based on the company’s current costs). So we are doing really well in terms of sales performance. Our business is clearly not impacted by COVID-19, being a Business to Business oriented online company, with teams available 24/7, worldwide.
3
We now have a very active social media strategy. Social media is done through our blog where 2 articles are published every month (1st and last week). And now, we can see that number of views on LinkedIn (our main social media to reach MNCs) doubled in April. On Facebook our audience has been multiplied by 10 reaching 19,172 visitors in early May through regular and consistent posting and sharing.
May 07, 2020 update.