With the expansion of technology and the increasing use of the digital landscape, it is convenient and easy for the global audience to find the products and services they seek. Localization is the key here.
A recent study reveals that more than 56% of the audience wants to prioritize getting the information in their preferred language over the price. Imagine that your website or app is not localized; the customers looking for their intended products and services feel dejected.
In this process, you let competitors take advantage of you to outsmart you in light of increasing your market share. It is interesting to note that the market size of localization is promising.
The localization market size was valued in 2021 at USD 4.51 billion. It is estimated to reach $6.54 billion by 2030, increasing at a CAGR of 4.5% from 2023 to 2030.
The tricky part regarding exploring the global market is that we are not using the same methodology of a business model often used at home and expect the same magic to work.
There are a host of factors that we have to look for, like legal, cultural, and language differences. To understand these, we take the help of what is called localization.
Non-English Speakers Preferred Their Mother Tongue
According to the survey, it is found that if the customers cannot understand a website, they will be frustrated and look at other websites.
Further, the study indicates many customers, e.g., 87%, are turning away from English-related websites. They are in no mood to purchase products that are not their native language.
Despite the global prominence of English, it does not make much difference to non-English speaking people. They will click on the website that fulfills their needs perfectly.
A study reveals that nationality substantially increases the demand for local language content online. Following are some facts that are important at this stage:
- Despite the poor quality of the content, 65% of people prefer their native language
- 67% bear with mixed language on a website
- If nothing else, 73% prefer product reviews in their mother tongue
- 66% of people employ machine translation online
- 40% of customers are dead against purchasing from a website that is not their native language
China Is A Promising Market but a Hard nut to Crack.
Among all the potential markets, China is notable for potential growth. Notwithstanding that, it is tough to enter. According to statistics show that there are 1.4 billion people in China, which is increasing.
It is found that In China, the middle class is growing, and disposable income is increasing, leading to enhanced consumer purchasing power.
The most lucrative app market across the length and breadth of the globe exists in China. If you want to be part of the growing market, you need to prepare for Localization.
Although it sounds rosy in the first place, China is a different market compared to other markets worldwide. The reasons are as follows:
- The survey shows that 95% of Chinese online shoppers hardly purchase from other websites that do not cater to their native language
- They use a Firewall that blocks many global companies and apps from access.
- Carefully assess the consumer preferences of China people that are different from others.
- It is well-documented that many top-tier companies fail to make headway in China because of improper localization. It would help if you comprehensively comprehended the Chinese audiences’ consumer needs.
Reasons For Localization That Is Right For You
We understand the importance of localization, especially when we set foot in the global markets. How our localization effort can help connect with diverse audiences personally. The reason for this lies in understanding the target audience’s culture, customs, preferences, and beliefs are vital factors.
You demonstrate your trust in other cultures by providing translation and localization of your website. Studies have corroborated that over 60% of non-English speakers seldom purchase from English-only websites.
More than 64% of the audience give a lot of importance to localized website. It is certainly well for you that you can earn trust and loyalty from the target audience because of cultural adaptation.
It reflects considerable trust and enhances key performance indicators (KPIs). To become pronounced significantly, KPI must be equated with quantifiable business objectives.
- A sound localization strategy can result in a significant boost of KPI that includes:
- Higher Customer satisfaction
- Providing a memorable experience for the audience
- Rendering High sales
Easy Brand Interaction
It is well documented that audience lives are greatly affected by what they use daily: navigating mobile sites, social media, and other platforms. Content localization in a multilingual format consolidates the online presence that helps you to share content with the global audience. It brings forth a positive consumer experience regarding the global audience and assists users in developing more trust.
- In this connection, it is important to note that user experience played a pivotal role at the time, observing the statistics that 75% of consumers change brands if they find the buying process complicated.
- It shows that 86% of users are ready to pay more if their online shopping experience is satisfactory. So, it is no surprise that global spending on audience experience is expected to reach more than USD 640 billion.
Enhance Online Search Results
Localization is comprehensive. It is not only confined to what the audience reads on your website; rather, the appropriate translation solutions that can localize everything like multimedia, PDF files, images, etc.
Keywords, hreflang tags, and metadata can be localized to improve SEO ranking and enhance organic traffic on your website. With this in place, global audiences benefit from an improved experience and content that speaks their language.
Enhanced Brand Consistency
A localized website can empower us to completely control our message and provide a consistent brand identity across the markets. In doing so, it is easier for us to communicate the brand messages effectively and prevent them from being miscommunicated. While performing this, localization takes proper care of culture, language, customs etc. It certainly augurs well regarding brand consistency and brand identity.
Recently, we have seen top-tier translation companies and localization solutions that make the process even easier regarding tailoring messages to diverse audiences to meet their requirements.
The concepts of one-size-fits-all are no longer in vogue. Doubtless, this enhanced ability to tailor market and direct communication to locals is improved the messaging and targeting effectively.
Provided More Support for the in-market team
Undoubtedly, a localized website is a great resource for users- It can also provide significant support to teams and local sales. The advantage of having a localized website lies in highlighting market-specific products and services and, simultaneously, adhering to local rules and regulations.
Cultural Sensitivity and Avoiding Missteps
Localization is apt to provide the right cultural adaptation. Localization properly measures the cultural sensitivities, customs, beliefs and related to culture and is delivered in such a way that prevents misinformation. A sound localization thus avoids missteps of cultural nitty-gritty significantly. Therefore, the onus is for the localization specialist to see that the desired message does not hurt the local sentiment and respect the intended culture.
Ahead Of The Curve
A localized website can have earned the respect and trust of the target audience. Being catered to the diverse needs of customers worldwide and demonstrating that you respect other cultures, traditions, and customs can provide you with a significant competitive edge over your competitors. In this process, you establish your brand identity significantly in the market.
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To Sum Up
Localization is not only considered a fancy word but also a mission-critical aspect. Similarly, it assumes great significance for businesses scaling up internationally. Doubtless, it provides a plethora of opportunities.
Investing in localization is a prudent decision for the business. Although embracing localization is worthwhile, the answer is undoubtedly and certainly affirmative if you are still confused about whether it is right.