Going global is an important movement that helps business raise revenue by reaching new marketing unavailable before. However, when this is done it is important to make sure that you localize your product. Not localizing your product can lead to future problems and not being as successful as your company could be. [sg_popup id=111]
Before we talk about WHY it is so important, we should also make sure we all clearly understand what it is.
Localization is defined as the process of making something local in character or restricting it to a particular place. It means making sure that your product or service is altered in a way that is suitable to the area or culture you are trying to target. For example, if you were trying to make a product or service appealable to China, it may not work exactly the same as it would in America. They are two completely different markets; so you should make sure to modify to make sure that it is something that someone in China would want or need. You can still sell the same product, just make sure that it fits into something that would work in that market.
Now that you understand what localization is, let’s talk about what makes it so important.
This is one of the biggest reasons that it is so crucial in international sales. Making sure that you have a language available that is widely spoken in that country, is only the beginning of localization services. Making sure your customers are happy is arguably the number one rule of business. Your business will definitely fail if you are pleasing them. Having localized products will also ensure that you create a trust between you are your purchasers and that they are more likely to come back and buy from you again.
When you are entering new countries, in business especially, it is essential that you are sure that your brand is protected by doing things that are not going to be offensive or insulting to that countries. You should always find out what is acceptable in that area and what everything means. If you are not sure of this and are not knowledgeable about the topic, it can be detrimental to your company.
I know what you’re thinking. How exactly would localization reduce costs? Well, let me explain. If you begin selling without having been prepared for what you should be doing, could lead to risks and satisfaction talked about earlier. While some companies take it day by day and alter things as they go, it is not the smartest business decision. You can do this, but you create big risks of making mistakes that would cost large sums of money to fix or change.
Bottom Line: Do your research and know what to expect. Knowledge is power, especially in this scenario.
We gave you reasons why we know every business should do this, but if you still don’t believe it from me, take it from a professional who has learned first-hand by taking his business global. Our CEO, Cody Broderick, interviewed Tyson Smith, president of Reading Horizons, and he tells us why exactly he believes it is key to success in global markets.