When To Localize Your Business
Whenever I come across the words Globalization, Localization or Internationalization, a quote of Ludwig Wittgenstein clicks in my mind “The limits of my language mean the limits of my world”. Language is one of the most impacting factors that can act as a huge barrier in adopting someones culture, values and building trust.
Right Time To Localize
Are you experiencing a stagnant pattern in your sales? Have you applied all the possible marketing strategies to pull the curve up? It might not be the right move this time. You might be trying business unit strategies at the time where you should be using strategic level strategies.
Your business might not be expanding because your existing market might have saturated with the product you are selling. Now what? You can now either bring a new product and start recapturing the market or penetrate with the existing product in the new markets.
Expanding your business beyond the geographical boundaries is popularly known as globalization. Globalization comes with its perks and draws backs. You can learn about the pros and cons of being a global business here.
When you are globalizing your business, you need to localize it first. Localization refers to adapting your product, content and your business as per the needs of local customers. Now comes the question that is localization important? Answer to the question is Yes!
Here are some benefits of localization:
Localizing yourself doesn’t limit you to only translations, but, it means adapting the content to resonate with the culture and to meet the local peculiarities. Moreover, localisation minimizes the defeat from competitors as it helps you to create more appealing user experience for your diversified clientele thus resulting in overall increase conversions.
Moreover, according to a research, 9 out of 10 people in Europe prefer to buy and consume a product in their local language. This shows localization has a great impact in mitigating the cultural sensitivity risks and creating more brand association with customers.
Never-Ending Customer Base
Businesses prefer to explore the markets across the geographical boundaries rather than staying stuck with the existing customer base. Spending millions on research and bringing in a new product is a high-risk decision. However, it’s less riskier for businesses to expand in the international markets. Moreover, if you can tweak your product as per the local needs of the people, you can keep expanding the customer base.
Localization Eliminate’s Barriers To Entry
There are many barriers a business faces when stepping in a new market. Similarly, making customers buy your product is a huge barrier. When a business localize itself according to the customers and communicate as the customers want to be communicated, one barrier of lead generation is already eliminated. And when the business gets the advantage of customer advocacy, it helps a lot in eliminating other barriers to penetrate and gain a firm footing in the market.
How To Get Started With Localization?
When a business is expanding its arms beyond the geographical boundaries, it must be equipped with proper tools and elements to easily step-in the new markets. Here are some must-have elements for a business to conquer the international markets.
Localize With Nonfig
Firstly Nonfig your business! It’s a must need to get a platform where you can handle all your multilingual translations. Why? So that your managers and stakeholders can concentrate on other business strategies rather than worrying for local translations.
Planning And Research
A business doesn’t launch its product even in the local market without researching the market. However, here we are talking about expanding in the international markets. Your business must be equipped with the proper information about markets you are planning to enter, which means information from competitors to culture ruling the society.
Planning not only includes planning about the external factors affecting the business but also planning your internal situation of the business. This mainly includes planning a strong workforce that can conquer the new markets.
Implementation And Plan B
With all the plans and research, you must implement them well. Sometimes the best plans fail because of the poor implementation.
Moreover, sometimes a perfect looking product fails when it reaches the market. Thus, you should step in the field with a Plan B which means how to cope up if the business doesn’t elevate as expected.