Currently, the world is a global village where buyers are not restricted by geography. This puts customers around the globe in the position to expect access to a range of information and products which are not only on-demand but for convenience but are in their native language as well. If your company is offering these services, goods or solutions, the company should be equipped with the required tools to navigate these global landscapes and be ready to offer global users unique and personalized local experiences.
One effective method of achieving this is through localization. Let’s dive deeper and understand why companies entering new markets should implement localization.
What is localization?
Localization is often confused with translation but in truth, translation can be considered to be a subset of localization. Localization refers to the process of adapting content, products and services to suit particular local markets. Localization doesn’t mean just translating text from one language to another. Although translation is a process of changing text from one language to another while maintaining its meaning, localization includes far more than that. Localization processes can often include adaptations of images or colors, formatting, UI or design and sometimes also payment methods.
Why is localization important?
To remain relevant in the global markets, companies need to be able to interact with their audiences effectively. If you are planning on opening your company to global markets, localization will play a crucial role in defining its success.
Let’s look at five key benefits of augmenting a business strategy with localization:
Localization will help you enter new markets easily
There are several barriers companies face when entering into a global marketplace. Legal issues, logistics obstacles as well as cultural and communication challenges can significantly decrease the pace of entering these markets. Although localization cannot address all these problems, it can definitely enable your company to manage cultural obstacles and enable you to avoid cultural faux pas that can have disastrous effects on your brand image. Implementing a good localization strategy will enable your company to gain popularity and recognition in a new market much faster and if executed accurately, will enable you to avoid embarrassing translation errors.
Localization will give you a competitive edge
- Local competitors: Being in direct competition against companies that are native to the local market can be very difficult. Local businesses might be able to get customers to trust their brand more easily than an unknown/ foreign brand. Localization can help your product bring things down to a level playing field.
- Global competitors: If your direct competitors haven’t localized their product, your product will have a notable advantage and allow your brand to gain a firm foothold in the new market.
Localization will increase customer satisfaction
Localization of content will demonstrate your commitment to your new customers. If you are offering something that addresses your customer’s needs in a manner they are comfortable with and understand, then the likelihood of them purchasing your products or services increases. From user manuals, payment methods and also customer support, localization of all aspects of the customer journey will enable your customers to make a purchasing decision more easily.
Localization will increase brand loyalty
If buyers are offered a satisfying user experience, your company will begin to earn their trust, which is crucial for brand loyalty. Interacting with them in their native language and altering your product to suit their cultural norms will go a long way in gaining their trust. Satisfied customers are more likely to be loyal to a brand and more likely to become advocates of your brand and product.
Localization will Increase your revenue
A larger audience translates to a higher potential for generating revenue, and if the product has been localized effectively, an increase is all but guaranteed. Additionally, enhancing your localization process using a translation management system (TMS) will enable you to leverage the most out of your translation and localization resources, allowing you to leverage technologies like machine translation. This will guarantee a sizable return on investment that will surely impress the stakeholders of your company.