Small typos can financially impact your business.
The cost can be as severe as $620 MILLION to the DEATHS of several people.
At the very least, spelling and grammar errors can sabotage your first impression with your clients. Common errors include incorrect use of your and you’re, and their versus they’re. These typos create the impression that you write carelessly… making potential clients wonder if you handle your business in the same way.
At most, these tiny typos can also have immeasurable financial cost.
For example, Mizuho Securities Co meant to sell single shares for 610,000 a piece, but a typo resulted in selling 610,000 shares for 1 yen a piece because of a typo. The company lost nearly $340 million in less than a day.
Companies that work with a lot of numbers need to take extra precautions to check that their numbers are correct. A small typo can cause a huge financial loss. In other cases, the effect causes can cause confusion or frustration, such as the reference “See Figure 8 on page 123 for the supporting data,” but there is no Figure 8 on page 123. It’s actually on page 133.
Spelling mistakes can be costly to your reputation.
In a similar way, spelling mistakes can also range from disastrous to confusing.
During the production process for an ad, a typographical mistake resulted in substituting the “x” for an “r,” so that “exotic travel” became “erotic.” Because of the misprint, the travel agency suffered irreversible damage to its professional reputation and lost nearly 80 percent of its customers.
In another example, assuring your customer that you will do everything to complete the project on schedule is slightly different than ensuring that you will do everything to schedule. In the latter case, it’s best to have a lawyer on hand in case you are late.
It does not take much to create disaster.
As shown in the previous examples, chaos can ensue over a small omission or typo. The result can be financially catastrophic, or can even cost lives.
The omission of a single hyphen resulted in the detonation of the Mariner probe spacecraft and a total loss of $620 million from the accident.
Similarly, a small clerical error in which a “C” became an “O” meant a rescue crew was dispatched to the wrong location, postponing rescue, and costing the lives of six fishermen.
Your typos may not be as costly as these examples. But minor spelling and grammar errors do come with a price.
The correct use of spelling and grammar is one of the primary variables a search engine analyzes when categorizing and prioritizing websites. Spelling errors for key words can affect search engine optimization, preventing potential customers from locating specific products and services.
One example is this e-commerce website. The misspelling of their product “tights” to “tihgts” resulted in a decline in sales until the error was fixed. Fixing the spelling resulted in an 80% conversion rate. In this case, details do matter.
Fixing typos is sometimes low in the list of priorities, particularly if there is a deadline looming, or the writer is a content expert. There are any given number of valid reasons.
One solution to prevent typo disasters is the use of technology. Word processing programs with built-in spelling and grammar editing features can help to reduce the frequency of some of these types of errors. It is even possible to create commands to check for certain typos, particularly if you’ve caught the mistake once and you want to check for duplicates.
However, nothing replaces having a copy editor or proofreader to do a final check for typos and number errors. There are some stubborn mistakes that are acceptable to a grammar editing program, but not to a fresh pair of eyes. An editor will check every detail for accuracy and consistency.
The following sentence summarizes the importance of good editing best with these words:
“A brand that disregards the details by underestimating the importance of proofreading could be a keystroke away from disaster.”
For more examples of some of the most expensive typos of all time, read this article.