Want to get board approval for a localization budget? You’ve come to the right place. These five no-nonsense facts reveal why this strategy is more important than ever for global business expansion. Slip them into your carefully curated pitch and help take your company to new heights.
1. ENTER NEW MARKETS WITH EASE
There’s a common misconception that language is the only barrier you need to overcome when you enter a market that’s geographically and culturally distant from your own. If only it were that simple.
In order to truly tailor your product or service to a specific culture, you also need to take into account political and socio-cultural norms (to name but a few!). The localization process enables you to overcome these obstacles relatively quickly when compared to mere translation.
What’s more, your product is more likely to resonate with your target audience, hence creating a positive brand image and reputation.
2. YOUR CUSTOMERS WILL KEEP COMING BACK
Imagine you’re surfing the net for a new state-of-the-art bike and you come across two websites. Which would you rather buy from – the one with lower prices but which is poorly translated and has no information about international shipping? Or the one that’s a little more expensive, but provides contact details, and clear and concise shipping information?
It’s most likely the second option, as you’d feel more informed about how much it’s going to cost to get the bike to you.
According to research, the same thing can be said for localization. In fact, 57% of consumers claim that the ability to obtain information in their own language is more important than price.
At the end of the day, by localizing your website and content you provide a comfortable customer experience – and that’s what keeps them coming back!
3. KEEP YOUR PRODUCT RELEVANT
Have you ever wondered how Nike continues to fend off its competitors and stay at the top? The answer is relevance. Their multi-market content is a representation of the company’s efforts to show their customers that they understand and invest time in them.
In a world in which trends are in constant flux, keeping your brand and product relevant is something that can’t be achieved by translation alone and which requires ongoing attention.
The process of localization enables your product to remain relevant to more people across more markets by tapping into and understanding local needs and values.
4. YOU’LL MINIMIZE RISKS
Let’s be honest: there’s always a risk when it comes to entering new markets. However, the good news is localization can help reduce it and avoid any unintended misunderstandings.
How, we hear you ask? In some countries, something as simple as color can be considered insulting or bad luck. It may sounds like a pretty stupid mistake to make, but even the big names have fallen into these traps in recent years.
By investing in localization you avert the risk of having to spend money correcting mistakes caused by errors such as these – and let’s be honest money’s in short supply right now. Not only that, any negative press that your brand attracts as a result of these gaffes has the potential to affect your brand’s reputation in the long-term.
You could go so far as to say that localization works to future-proof your business.
5. IT HELPS REDUCE COSTS
This one’s always an eyebrow-raiser. The truth is, localization costs much less than product development.
You’ve most likely already spent a considerable sum on designing a product. Therefore, spending a percentage of that cost on adapting it to local markets is a no-brainer.
If you look at it another way, it’s like developing a new product for every single market you’re present in at a fraction of the cost. Now if that doesn’t make good business sense, I don’t know what does.
Top tip: Integrating localization into the early product development process can reduce costs even further.