Risks and Tips for Expanding from Local to Global Market

July 21, 2020

Marketers play a very important role in the present age. Many entrepreneurs who achieve success in the local markets count upon the skills and expertise of the marketers. They feel optimistic that their businesses can do just as well in the foreign markets as well. Marketers have to stay updated on the latest demands and trends and keep working hard to create campaigns that can foster a convincingly positive image of a company in the market.

But there’s always a risk of unsuccessful expansion of business because there can be radical differences between the local and global marketing systems and trends. Reasons for that can be many: To mention a few:

  • Your product or service may not appeal to the target audience.
  • It may violate the principles and values of the target market.
  • You may not be able to find effective ways of marketing it abroad.

Be Clear On What You Want to Market

Entrepreneurs can sometimes be pessimistic that they can offer value to a target market. Actually, the loss, if it happens, can be such a set-back for a company that the leaders are too afraid to make a big move. However, you can minimize the risk of failure by localizing the marketing message and your corporate website and making it appealing for the new market.

As a successful corporate manager, you are aware of the value you have already provided the local market with. The strategy you used in the past may not be entirely useless for the foreign market – in fact, many of its facets can be applied as such outside your country in different cultures. Have a good look at the local market’s strategy and re-use as many elements from it as possible.

And in this case, an effective website localization tool like translate.com/localization will be helpful to detect missing elements or gaps in the local marketing strategy and rapidly adapt the existing content to the foreign market’s needs.

Here’s What You Can Do to Localize Your Website Content

Successful transition of a business from one country to another depends, to a large extent, upon the localization of your content. Even if your whole campaign is very strong and appealing, just one wrong slogan can jeopardize your efforts to set a sharp positive image in the target market. The best way to ensure that you adopt the right approach is to take measures that you can use regularly.

The terminology for the localization of website should be consistent. There are excellent tools available online that can help you make a dictionary for your company. Such a directory will have all keywords and phrases in it that you can use in the customized content. The tool can also help re-use the content’s translation that you got done at a previous point in time. Taking such measures not only helps an entrepreneur save time, but also to keep things well-organized and consistent.

Ideal Resources to Use for Localization

The top management of a company should be well-aware of the resources in all situations. Resources are required both for the local and international expansion of marketing. You can get most of the business problems successfully solved using the very technology that helps a company access new target markets all over the globe.

You may not necessarily require more staff to get the content localized – you may as well use an online tool for the localization of your content. Most of them can do the work of multiple people at one time, and you can have many manual processes automated. Some of the services offered by people in conventional practice include:

  • Gathering the content published over the website.
  • Documenting the text in Word files.
  • Reaching suitable agencies for translation of the website.
  • Managing the content’s translation by coordinating with the chosen agency.
  • Going through the whole translation to ensure that it’s perfect for use in the foreign market.

If you go for automation, all this information will be directly collected from the website. After collecting the content, it can be localized while you directly collaborate with the online translators. The tool allows a company’s management to observe the translation in the website’s context and get it published online very easily. While you have to work hard to create new and improved products and services, let the technology do the trick for you for maximal efficiency and productivity.

A Comparison of the Local and Global Marketing

We live in a global age today. People from different cultures, regions, and historical backgrounds are connected through the Internet. It’s a potent medium of influence of one society and its trends over the other. So as a business entrepreneur thinking about expanding into a new market, you can expect fewer differences between the local and global marketing practices and means today than there used to be before the advent of the Internet.

Nevertheless, it is important to study the cultural preferences, trends, and prevailing traditions in the market you want to expand into. Marketing is arguably the most critical aspect of any business. You can only do it successfully when you are well-informed about and make good use of the factors that appeal to the international audience.

How to Even Out the Risks of Expansion into Foreign Markets?

Summing it all up, you need to re-use the elements in your strategy that you use in the local market while marketing your business abroad. Localize the content using helpful online tools. Automate the process of localization for best productivity and error-free translation.