Make Marketing Globalization a Priority
When you consider that anyone, anywhere can go online to access information about products and services, every company that has a website is inherently global from day one. However, to really maximize the opportunity for global growth and revenue, globally focused companies need to prioritize "marketing globalization" to target and engage audiences in international markets.
Marketing globalization means localizing your marketing efforts to reach new regions and audiences with content and messaging that's translated into their native languages, while also taking into consideration the region's customs, values, cultural references and local jargon. In short, it's messaging that resonates with the audience because it speaks their language and communicates that the company understands its audience's needs and lifestyle.
By globalizing marketing campaigns, brands can target new markets and realize new opportunities for revenue growth. Why should marketers prioritize globalization? Here are some enlightening statistics to consider:
- By 2025, the number of global consumers in emerging economies will reach 4.2 billion, and annual consumption in emerging global markets will increase to $30 trillion.
- Fortune 500 companies that deliver content in native languages to keep up with or gain an edge over their competitors are twice as likely to see increased profits and 1.25 times more likely to generate increased earnings per share.
- Almost 60 percent of global consumers say getting information in their own language is more important than price when making a purchase decision.
Without localized content, your marketing and sales organizations will sacrifice potential revenue and lose share to competitors who create multilingual content effectively. With localized content, you'll drive more web visitors, nurture more leads and close more deals. Globalizing your marketing campaigns can be done efficiently and effectively. You just need the right global mind-set. Consider these three tips:
1. Go where demand already exists. This may seem like a no-brainer, but you'd be surprised how many companies translate into more languages than they need. Conduct market research, run some test campaigns, evaluate the findings and focus on markets where the highest growth potential exists for your product or service, and prioritize those.