The present-day market works on a “customer first” mindset. Yet, the most customer-focused businesses fall short if they don’t convert their corporate mission into localized efforts.
Consider landing on a website with a non-native language, it can make you feel like visiting a foreign country you’re totally unacquainted with. You are clueless about the currency and culture and you have trouble understanding the storeowners.
If you’ve ever been through anything similar, you already realize the value of localization, even if you’re not sure what it implies. To outperform in markets, you must think globally while acting locally.
Here’s a fast rundown on what localization is and why it is important for international brands in 2021.
What is Localization?
According to the Globalization and Localization Association, Localization is the complete procedure of adapting a product or content to a particular locality or market.
Localization also means adjusting other features to a target market, which includes:
- Adjusting graphics and design to display translated text
- Modifying content as per preferences
- Adapting to local currencies and measurement units
- Using accurate formatting (dates, addresses, and contact numbers)
- Addressing local laws and legal standards
Moreover, you could localize more than just your product and website. One good idea is to localize your marketing resources (TV, radio, printed ads), product guides, user interfaces, and product warranty materials if you’re hankering to shoot up your audience.
In short, localization gives everything the look and feel your target consumer expects. Are you still hesitant about investing in localization? Here’s why it’s essential for your business in 2021.
Who to Choose for Localizing Your Brand?
The best idea is to outsource your localization process. What’s impressive about outsourcing your localization process is that it can go with every kind of business. From tech providers and supermarkets to hotels and hospitality businesses, you’ll find everyone outsourcing their localization services.
To outsource people for the localization of your website content or graphic, you can either opt for a reliable freelance marketplace, or you can also contact a localization agency.
If you choose to hire a freelancer, you can save up to 50% on business costs. Thus, it is evident that hiring a localization freelancer is quite affordable as compared to hiring an agency or an in-house employee.
Why Localization is Important for International Brands in 2021?
1. To Expand the Worldwide Reach
It’s easy to believe that breaking into a new market is as simple as running a Facebook ad targeting a particular city or region.
Yet it needs more than that. You’ll have to rise above a number of obstacles, particularly if you choose to reach a market that is geographically and culturally distinct from your home nation. Among these impediments are:
- The political situation
- The sociocultural and demographic background
- The technological setting
Localization allows you to resolve these challenges more quickly, customize your product or service to a particular community, and make it easier for potential consumers to respond to your product.
In other terms, localization can help the product or service transition to your target area and help you compete in new markets. Consequently, customers would be more willing to spread the word about your company, and through a well-executed purpose led brand strategy, you will create a healthier brand profile.
2. To Boost Up Sales and Revenue
A larger audience means more sales opportunities, and if you successfully localize your content or product, you’ll definitely see a spike.
To get the most out of your localization resources and draw on innovations like machine translation, it’s commendable to optimize your localization method with a TMS (Translation Management System).
This would guarantee a significant return on investment and will surprise all of your company’s stakeholders.
74% of multinational companies agree that localization is either important or most important to increase revenue generation from international operations. So, it is the way to go if you want to increase your export revenue and keep up with your rivals.
3. To Reduce Risk
If the online stores are not localized, there’s a risk of losing 40% or more of the entire potential market.
Along with the many benefits that can be obtained by breaking through a new market, there is a fair share of possible risks as well.
You may perhaps think too little of the political situation, underestimate market needs, and cultural sensitivities, in addition to factors outside your influence, such as currency value swings and force majeure.
In this case, Localization is a risk-mitigation strategy that guarantees the seamless operation of the company across borders. Keep in mind that certain terms and even some colors may have a derogatory connotation in certain nations.
Through Localization, you can prevent falling into these pitfalls, which even some of the biggest companies have not managed to avoid.
Nokia, for example, tried and struggled to sell its Lumia phone in Spanish-speaking countries. But unfortunately, they had overlooked the reality that the product’s name is Spanish slang for “prostitute,” resulting in negative publicity.
4. To Level Up Customer Satisfaction
Your loyalty to your consumers can be shown by localizing your product. Customers are more inclined to purchase your product or services if you answer their concerns in a manner that they are happy with.
Almost 76% of internet users choose to read product info in their own language. And around 40% of internet consumers would never make a purchase from a website that is not in their native language.
Thus. localizing all aspects of the consumer experience, from user guides to payment systems and even customer service, would make it far easier for the consumers to make a purchasing choice.
So, if you’re paving your way to expand your company globally, incorporating localization into your approach would help you overcome cultural obstacles and ease penetration into new markets.
And since it is important to resonate with your consumers in the target market, investing in localization at the outset of your internationalization process is critical. So, don’t wait and make the smartest business move!