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The latest RWS report overview of the most vital events the importance of location, showing that over four-fifths of consumers are less prone to purchase from brands that do not offer service in the local language.
Additionally, 93% of consumers consider that firms need to speak in their preferred languages across all channels to effectively reach audiences around the world.
1. Identify bottlenecks
Before starting localization activities, it is necessary to plan the customer journey in the goal market. This includes understanding cultural nuances, needs, issues, and preferences, and identifying specific requirements resembling country-specific phone number formats, email conventions, and address specifications. By recognizing potential bottlenecks, you possibly can adjust your localization strategy to handle specific challenges and improve the overall customer experience.
Despite entering the UK market without extensive research, Flowwow quickly encountered challenges in selecting an address. We found that UK consumers were used to searching for addresses by postcode, which is a system that is incompatible with their existing platform. This oversight resulted in a negative user experience, resulting in a decline in purchases as customers needed help navigating the site.
2. Prioritize accurate translations
While translation is an essential aspect of localization, it is necessary to be sure that your content is culturally appropriate, resonates with your target market, and effectively conveys your brand message. Work with local translators who have a deep understanding of your goal market and think about using multiple translators to review your goal market.
Airbnb, a global leader in the hospitality industry, demonstrates meaning effective translation. By offering its platform in 62 languages (about 30 languages for the average global high-tech company), Airbnb has successfully reached an international audience.
They used machine translation of user-generated content resembling reviews to offer users around the world with relevant and localized content. While machine translation is probably not perfect in all contexts, it will probably be a helpful tool for streamlining processes and reducing costs.
3. Customize payment systems
Research shows that 21% of European consumers abandon purchases if the payment takes longer than a minute. Additionally, 15% of European consumers leave their online shopping carts at any time they select payment method is unavailable. Businesses can significantly reduce cart abandonment rates and increase conversions by offering a range of payment options (Stripe, PayPal, to call a few).
4. Develop a customized pricing strategy
To set competitive prices and avoid overpricing or underpricing, it is essential to grasp the purchasing power of your goal market, the competitive environment, local preferences and economic conditions. Conduct thorough market research to assemble data on consumer behavior, income levels and pricing trends.
Two popular pricing strategies include:
- Dumping: Actively lowering the price of products or services in order to realize market share and attract customers.
- Differentiation: Position your products or services as premium offerings with unique features or advantages, justifying the higher price.
5. Rethink your product categories
Customize your product categories based on thorough market research and insights from local experts to make sure your products appeal to local consumers.
Domino’s Pizza has successfully localized its offerings to fulfill customer needs specific tastes consumers in India and Malaysia. They introduced pizza flavors to India like chicken tikka masala, paneer tikka, manchurian and paneer do pyaza. In Malaysia, they have ensured that their outlets avoid pork, beef and non-halal meat to comply with local dietary restrictions.
In our case, we identified significant demand for “gift boxes” in the Brazilian market, a popular gift category that had not previously been offered on the platform. By introducing a recent category, we observed a 40% increase in sales.
6. Overcome legal and regulatory obstacles
One of the most vital challenges faced by firms expanding internationally is navigating the complex legal and regulatory environment of assorted regions. Thorough research is essential to grasp the specific legal and regulatory requirements of each goal market, including compliance with data protection laws, consumer protection laws and industry regulations.
For example, marketplaces operating in the European Union must comply with GDPR, one of the strictest data protection regulations in the world. E-commerce firms must also comply with local requirements regarding the sale of certain products, resembling age restrictions on alcohol and regulations regarding online pharmacies.
7. Continue locating
Remember that localization is an ongoing process that requires constant attention. Localized content must adapt to stay relevant and effective as products evolve and market conditions change.
To address this challenge, firms should establish a regular location audit process to discover and correct outdated or inaccurate content. Additionally, staying up thus far with cultural trends and language changes is essential to be sure that your localized content is relevant to your target market.
Localization is a complex and multi-faceted process that requires careful planning, implementation and ongoing maintenance. Before embarking on a localization journey, firms must be sure that their product has a good market fit to justify the significant investment in resources and time.
By investing in high-quality and consistent localization at all levels, firms can effectively adapt their brands to recent markets, build trust with local consumers and achieve sustainable growth.