|"Silicon Strategies brought a level of clarity to our situation and
helped us mark a path forward."
Andres Heuberger President and Founder
Learn how to
commodities. Learn how to prevent
that, survive it, or
grow beyond being
like everyone else.
ForeignExchange Translations (FXT), a
translation services specialist in medical
device, diagnostics, pharmaceutical and
fighting with major competitors and needing
new ways to grow client base.
Silicon Strategies' Role:
Conduct primary market research to discover where FXT was in the
market and how to maneuver past their competitors.
FXT was uncertain of their competitive
landscape and how to change the rules of
their market. The Internet has made
the translation/localization industry a
commodity business. FXT wanted to
compete on something other than price.
The first step was to determine where FXT
stood against their competitors.
Silicon Strategies Marketing conducted a
survey, inviting nearly 70,000 people to
our dedicated online survey tool.
Through this survey we measured FXT and four
competitors on several critical positioning
vectors. From this research a solid positioning
map emerged that showed the severity of
FXT's place in the market — a very close
The survey instrument was also designed
to explore places where buyers of
translation services were unsatisfied with
available services from all vendors.
quantitative research identified several
areas where gaps existed between what buyers
wanted and what they could obtain.
This led to the second phase of the
qualitative research via deep interviews
in which we delved into these market gaps
and explored more precisely what people
wished to achieve (their expected outcomes).
Normally we conduct qualitative
research first, but FXT's situation was
unique and warranted a different approach.
The Results: The results have led
FXT to some realizations about their market
and how to grow:
- Their specialization in specific
industries, and their deep knowledge
were perceived as a valuable
differentiator, and are to be expanded.
- Translating words is purely a
commodity business, and that tangent
services and products will lead toward
greater customer satisfaction and
- FXT's messaging did not match the
unique value they delivered, and that
FXT messaging needed changing.
- Knowing your position in the market
tells you how urgent is your situation
and can lead to understanding how to
- Often the product you need to offer
is not the product you currently
provided. The translation market
has changed thanks to the Internet, and
leading companies must change their
Strategies Marketing for a telephone
consultation on how to identify where you
and your competitors are and how to pass
them in the market.