This article highlights the importance of how localization strategies should be planned before starting any project and made according to the target market. Let’s go global!
Startups are excited about innovative ideas. They are inspired by innovation, driven by value, and determined to make a difference, don’t they? Startup founders are primed for success and always trying for providing the best products and services around the globe. In other words, they are indeed entrepreneurs who are seeking not just convenience but the best.
Today, the phenomenon of globalization is changing how people shop, work and do business. Thus it creates wider opportunities to grow bigger and consider international expansion to ensure a startup survives long term. Every product or service and every associated touch point must be tweaked and tailored for each market. Those products or services should be able to talk the language, understand the culture, and meet the social expectations of the target customers.
Here is how localization matters! Localization goes beyond just translating your text. It ensures that every aspect of your startup’s offering is geared towards delivering a seamless customer experience across all markets. It is key to success as you prepare your company to expand internationally. It’s not always an easy process, but it’s definitely worth it!
Why is localization important?
Localization will help your business reach new markets beyond the border. It also helps your product become more popular with customers around the world. Your product or service will appeal to more people because it will speak to them in their native language as it will positively impact your business and become more profitable.
Furthermore, you will be able to attract top talent to work for you as it also makes your brand be recognized as an industry leader.
Centralized Vs. Decentralized Approach in the Localization Strategy
A centralized approach means that each country has a copy of the same material but the translation remains under the control of the central office. This may be a good option if you want to ensure consistency across all languages. However, it requires a lot of time and effort to create and maintain all the different translations. In addition, there is also the risk of losing quality control as each translator works independently.
While in the decentralized program, a company with an international presence has localized materials for each country. Localization teams work closely together to produce high-quality translations for each language.
See the difference? This method allows for a more timely response to changes in market demand and ensures that the product is always up to date. However, this method is less efficient because it requires more time and money than the centralized model.
De-centralized means that the company will be responsible for communicating with each country about what they need to do. For example, a company decides to go global by selling books to other countries. They sell the rights to the books to another company who then sells them to people in those countries. The company that owns the rights gets a small percentage of the money made from the sale.
The benefits of Localization for Business in the Global Market
Localization is not only a process of global marketing, yet it is the core of a brand to be a global leader. There are a couple of reasons that prove localization is a key to winning the global competition.
Localization will help you enter new markets easily
There are many barriers you may encounter when launching your business. Legal issues, logistical problems, and also cultural and communication difficulties can slow you down. Localization can’t take away all of them but it can certainly help you overcome cultural obstacles and helps you avoid potential cultural mistakes that could be damaging to your brand image.
Localization will give you a competitive edge
Companies that are native to the market place will be able to gain the confidence of their customers much easier than a company that isn’t. A global competitor won’t have any advantages over a local business because they are competing in a different country.
Localization will increase customer satisfaction as long as your content shows your commitment to customers by making sure they know how to use your products and services. Your customers are more likely to buy if you address their needs in a way they are comfortable with. You should also include all parts of the customer experience including payment methods, user manuals, and customer support.
Localization will increase brand loyalty
You should communicate with your users in their language and tailor your product to them. This will make sure they feel satisfied with your service and they will be more likely to stay loyal to your brand.
Localization will Increase your revenue
A bigger audience means a huge potential for more revenue and by localizing your product effectively, you’re bound to see an increase in sales. Optimizing your localization process with a TM system ensures you get the most out of translation and localization resources.
You’ll be sure to make a sizable return on investment and impress all the stakeholders in the company.
Win more business
Localization increases the chances of winning new customers. Starting a company in another country means there are fewer barriers to entry. Companies are now global. And, remember, startups can be anywhere!
A global business should always localize! Why? According to Statista and Shopify, 75% of people prefer to buy products in their own language. 40% of internet users will commit to buying globally today. The team is ready for your startup to launch in a new market – wherever that might be in this world. Their tailored localization strategies give your brand the competitive edge you need to succeed.