OAP - Words4all presentation
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- Words4All is an online platform that connects translators and customers through a social network model. It aims to make translation services more affordable and accessible compared to traditional agencies. - Translators can register, pass a test to verify their skills, and receive jobs and payment through the platform. Customers can browse translator profiles, post translation needs, and have their work completed and rated on the platform. - The founders see an opportunity to tap into the large but fragmented $30 billion language services market with a more personalized, socially-connected model than competitors. Their goal is an initial 0.003% market share.
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OAP - Words4all presentation
- 2. Current situation Automated translation Traditional translation services: companies: - Only people understand - Expensive people. - Inappropriate for small - Do not contextualize translations. correctly. - Commercial relationship - Misinterprets idioms.
- 3. Opportunity - Change the translation business. - Make the process of obtaining a translation more user-friendly. - Provide an additional income to those who speak at least two languages. - Job opportunity for amateur translators
- 4. ?What is Words4all? - Online platform for translations - Social platform where users and providers of translation services can come together. (Social relationship) - Fully adapted to web 2.0 and integrated with horizontal social networks like Facebook and Twitter.
- 5. How does it work if I am a translator? 1. Register in Words4All 2. Show us what you can do by passing a test 3. Get your category range and now you can know what you'll earn 4. Wait for offers or apply for jobs. 5. Deliver your translation within the agreed deadline 6. Get your money through paypal 7. Move up to next category range
- 6. How does it work if I need a translation? 1. Register in Words4All 2. Start by either: a. Look for translators that fit your needs: languages, technical knowledge, price OR b. Publish your offer and what you're willing to pay. c. Choose the best for you 3. Get your translation and pay for it 4. Rate your translator
- 7. Modifications of the original idea after testing our value proposition - Customer segment - Privacy and confidentiality - Pricing - Translator's technical knowledge
- 8. SWOT Strengths Weaknesses ¡ñ Social network based ¡ñ Important effort in relationship between marketing needed customers and translators ¡ñ Model based in our user's ¡ñ Quality translations for a trust competitive price ¡ñ Agile business model Opportunities Threats ¡ñ Niche market still to exploit ¡ñ Business competitors ¡ñ Market size grows due to ¡ñ Unpredictable economy globalization movements
- 9. Market size (I) - Market size: 30 billion $ (aprox: 23.500 M€)
- 10. Market Size (II) - In 2011 the global market for language services was worth USD 31 billion and growing at a rate of 7,41% p.a. - Market has large number of players but we feel that our platform and social approach will attract clients looking for a more personalised service. - We estimate our initial target market to be 0,003% of global market share.
- 11. ?Why it's worth pursuing? - It covers a current need. - It will provide income to many people. - Make translations something social and with an human touch.
- 12. Thank you Danke, Grazie, лл Gracias, Merci, Words4All team: Jaume Lahort, ?scar Ramos, Albert Carabasa, Pablo Castilla, Patricio Fern¨¢ndez, Bel¨¦n Morenate, Fco Javier M.C,