How to, when to, and to what degree to follow a path of localization over globalization has always been a challenge for businesses large and small.
‘75% of companies have now at least explored the impact of localization, or implemented long-term policies for its adoption’, states consultancy.uk, in an analysis of a new report by A.T. Kearney, a global management consulting firm.
Majority of investors want localization
‘Changing technological capabilities and a changing political landscape have seen economies shifting gradually toward more locally produced goods and services, focused on sustainability or supporting local producers,’ it adds.
The report also reveals that 90% of investors are following a path of localization by either exploring, considering or already implementing localization practices.
The five key drivers for this evolution of a new round of localization are ‘political risks, shifting consumer preferences, strengthening industrial policies, sweeping technological change, and increasing community engagement and expectations.’
A win-win for language service providers?
A renewed focus on ‘local over global’ provides a good opportunity for businesses to take advantage of the services offered by Language Service Providers (LSPs). Localization in the translation industry refers to the process of creating content that’s local in character – appearing as if it was specially created for a particular local market. This can be anything from documentation to video content and websites.
Localization to win new customers
Kearney’s findings indicate that more and more global companies are looking to deploy local techniques. However, translations offer the possibility for businesses to do both – to remain global by communicating in all key languages to producers, suppliers and customers, while at the same time enabling firms to delve deeper into local markets by utilizing high-level local language expertize and industry experience.
Use translations to speak to local audiences
Translation is one of the simplest solutions for enterprise customers looking to maintain their global outreach and undertake local strategies, whether it be communicating and personalization customer campaigns in local language or reaching out to supply chains to provide technical and highly specialized commercial content.
LSPs also have the expertize and experience to understand how to communicate in individual markets, and almost as importantly – how not to communicate. We’ve reported on numerous mistranslations around the world by firms and large and small who have made critical localization errors. Mistranslations and poorly-researched localization strategies can be costly and damage brand reputation.
Use translations to engage your global teams and customers, and use our translation tools to save you time, hassle and lower the costs the more you translate with us.
In a hurry? You can get a quote right now.
By Ben Whittacker-Cook
Ben works in the Marketing department at Straker. Read more blogs, business advice and ways to save time and money on translation projects: www.strakertranslations.com/blog/.