![]() ![]() ![]() In Central Europe, charges are frequently based on standard lines and the translation’s target language. Given that many multinational agencies now offer end clients cheaper pricing, the average price for translation services appears to be about USD 0.18-a reasonably solid price point. Prices vary widely and are sometimes substantially less than the gross calculation result. Each quote is customized to the needs of the client. For all parties concerned, per-word charging is incredibly convenient and fair. This is the most popular and widely used calculation in the industry. (This usually refers to the number of source words rather than the number of words in the target language.) Expect to pay $0.08 to $0.40 per word on average. Per wordĪ cost per word basis is the most popular and widely used pricing approach and industry standard. This argument isn’t terrible in and of itself, but it leads to frustration when both pricing approaches fail to win new clients or secure a much-needed or anticipated project. Many translation companies use mark-up pricing and then switch to meet-competitor pricing when the buyer wants it or when they realize their offer is being compared. Your price sends a powerful statement to your market it should be in line with the value you provide. Your pricing has an impact on how the market perceives your product. One of the classic “4 Ps” of the marketing mix is pricing (product, price, place, and promotion). Customers will not pay even a cent more than the product’s genuine value. I believe that pricing should be simple and straightforward. A project in the translation sector needs an accurate pricing approach based on its unique characteristics.īased on our research of the translation industry’s rates, we devised the following price structure: What are the common pricing methods? A 1% increase in your pricing approach can result in a gain of 11% in profits. ![]() What factors influence the cost of translation?īecause operational efficiency is the value proposition of translation services, your price must be exceptionally competitive. ![]()
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