As more businesses set their sights on reaching global audiences, executives continue to search for ways to adapt their services to meet the needs of consumers living in different countries. Business globalization calls for services tailored to international buyers' diverse range of interests and purchasing habits. This includes localizing websites, mobile apps and social media pages to maximize your business' reach in individual countries across the world.
Investing in professional translation services can help propel your company to international success, as many studies have found that companies' global ventures thrive after developing and honing translated content. Consider the following facts next time your brand is examining how to best use localization services to its advantage.
1. 9 out of 10 executives believe their international consumer base will grow in the next three years
The Economist Intelligence Unit conducted a large-scale study among nearly 600 business executives representing companies in North America, Europe, Africa, the Middle East, Asia Pacific and Latin America. Across this vast range of companies and decision makers, 90 percent indicated that their brands will expand across the borders over the course of the next three years. Along with new international ventures comes a necessity for cultural research, business language localization and updated marketing tools to adequately reach global buyers.
2. More than 50 percent of online consumers only purchase from sites in their native language
It's no secret that global buyers are more likely to purchase from sites that feature their native languages, but according to a study compiled by Common Sense Advisory, more than 50 percent will only purchase from these companies. These consumers will entirely neglect companies in languages unfamiliar to them, further highlighting the necessity that businesses offer translated pages for languages most popular among potential buyers.
"Fortune 500 companies that invested in translation were 1.5 times more likely to report higher revenue."
3. Fortune 500 companies that invested in translation were 1.5 times more likely to report higher revenue
When it comes to translation, small businesses and large corporations alike recognize the opportunities presented by localized content. Common Sense Advisory published a separate survey among executives at some of the world's largest companies, discovering that those with translated sites reported higher revenue, better customer service and larger market share than those that did not. Specifically, Fortune 500 companies that invested in translation endeavors reported revenues that were 1.5 times higher than those that did not. The study attributed the increase in revenue to companies' abilities to better communicate via the Web with potential partners and clients in different countries.
4. 90 percent of executives think tackling communication hurdles can boost sales, revenue and market share
Communication remains one of the top reasons that companies invest in translation. According to The Economist Intelligence Unit, nearly 90 percent of surveyed executives remarked that improving communication between the borders would reap significant financial rewards for their companies. Moreover, many executives admitted their businesses were not doing all they could to improve such relationships abroad, recognizing that their communication efforts needed to include cultural training along with a greater emphasis on language development among employees.
5. Localized ads are 86 percent more likely to have higher click-through rates
Is your business using mobile strategies to target international consumers? Localizing your mobile content is equally as important as adapting your company's website. Appia, a mobile user acquisition network that helps businesses develop mobile marketing strategies, conducted a study to discover how global users interacted with advertisements presented within apps. The company examined which ads were more effective: those localized to specific regions or those entirely in English. When it came to both click-through and conversion rates, localized ads outperformed English ones by 86 percent, prompting CEO Jud Bowman to note that language and user experience are crucial for adapting to your desired international audience when targeting through mobile.
6. Only 25 percent of international consumers regularly purchase from American companies
In the same vein, international buyers who may have a working knowledge of the English language are not more likely to purchase from your brand on a regular basis. Common Sense Advisory found that while international buyers may purchase from an English website, only 25 percent frequently visit the sites. Researchers noted that language remained one of the largest hurdles preventing people from purchasing, but there were many other factors that professional localization services could adapt for greater success. These included website functions – including payment options for global purchasers – and basic features, like time and layout.
"Localized ads are 86 percent more likely to have higher click-through rates."
7. 47 percent of executives believe employees do not receive enough language and communication training
Your staff members remain among the most important factors driving how effectively your brand communicates with buyers living in different countries. These include people who work in customer service, website development and business services – all three of which have a profound impact on how accurately your company communicates with global buyers. Executives who responded to the Economist Intelligence Unit discovered an untapped opportunity among their staff, with 47 percent noting that their companies needed more training with regard to language and international communication.
8. Geo-targeted posts on social media are six times more effective than others
Adapting your social network for the various regions your business serves is critical to your brand's success. NPR recently conducted an experiment on its own Facebook page, examining the effect of geo-targeting efforts among its numerous pages. The company began its trial in Seattle, posting articles about the region itself – such as "Why don't people in Seattle use umbrellas?" – instead of the same pieces it had been posting to its global sites. NPR discovered that Seattle-specific articles were six times more likely to get comments, likes and shares than articles pertaining to the country or the world as a whole. The study illustrated that targeting individual regions with specific content and marketing endeavors is crucial for success. One of the best ways for globally seeking brands to hone posts to certain regions is by using localization services that are familiar with individual countries and audiences.