According to marketing experts, one of the biggest reasons that only 25 percent of startups succeed is the others do not fully comprehend their Ideal Customer Profile — the demographic and psychological makeup of their target clients. This misunderstanding means that many startups often adopt a one-size-fits-all communication strategy, which does not factor in foreign languages, regional dialects and other cultural variables.
Human-driven transcription services may pose the solution to this problem, as they are able to translate their transcribed company content into different languages, and offer a higher accuracy rate than their artificial intelligence counterparts.
In recent years there has been an increase in quality in AI-driven transcription services. A 2018 report published by Microsoft stated that robot transcribers now have an accuracy rate of 95 percent when placed in surroundings without external variables such as background noise and multiple speakers.
However, the robot’s level of comprehension is slightly lesser than that afforded by the human ear, which is able to understand foreign languages, multiple speakers and regional dialects. Additionally, despite a robot being able to understand much of the language a human does, it is engineered to work within a pre-programmed set of words. It is worth noting that, given the robot’s restricted pre-programmed vocabulary, it is unable to understand specialist terminology and other subtle linguistic nuances.
Human transcriptionists, on the other hand, can help a startup by offering translation services as a form of attracting potentially new customers. In the United States, according to a census report, 20 percent of residents speak a language other than English at home, with more than one in 10 speaking Spanish. By translating the transcribed content into the native languages of target markets, startups have the potential to access a wider market beyond that of the traditional English-speaking world.
By outsourcing the write-up of audio or video files, startups do not run the risk of making mistakes by doing their own in-house transcription. The lack of errors afforded by a human-driven transcription service also means that startups can use their time to develop their business and better understand their ICP, as opposed to fixing mistakes in written documents.
The human ear’s ability to understand and interpret specialist language means that transcription services employing human transcribers are able to offer better quality services in specialized fields such as market research transcription, business transcription, as well as financial, medical and legal language. Transcripts can be used in everything from video subtitles and closed captions, to information intended for use in e-publications and in infographics.
Kristina Skindelytė is with GoTranscript, a human-based transcription provider that believes transcription services of this nature are able to present a solution to the startup’s lack of time, as well as the difficulties experienced in accessing new markets.