After months (or even years) of late night product development and many internal meetings, your company has finally achieved product success in the market. Congratulations! In addition, you have just secured a round of funding (Seed, Angel, Series A, B, C, etc.) from a venture capital firm, and are now ready to hit the market, full force. What are your next steps?
Among your options for growth is localization - the process of translating your product-related content into foreign languages while incorporating locale-specific elements (e.g. political, religious, and cultural sensitivities, local expressions and marketing styles, etc.). There are a few translation services companies that can help you localize content into hundreds of languages.
Product-related content can include software apps, websites and social media pages, documentation (marketing, technical, legal, medical, etc.), and videos.
Localizing content will allow you to establish a more global brand image and reach more target audiences in markets overseas, thereby increasing your international sales ROI.
Companies that localize tend to see a roughly 15-20% increase in return on their product and gain an edge over their competition (who may not have localized assets).
In this blog, we introduce key questions surrounding localization planning for you to consider as your funding rounds continue or your company goes public.
When planning for localization, you need to have a thorough understanding about your target consumer markets or "playgrounds."
Here are questions to consider regarding your consumer markets when planning for localization.
When planning for your company's localization program, it is important for all internal teams to understand the unique advantages of localization and the growth plan from a product perspective.
Having a solid game plan on how to show actual returns and report back to your investors is also crucial. Here are some introspective questions to consider for localization planning.
As you build your product, what measurable steps is your company taking to stay competitive and lead in the market?
When planning for localization, it is also important to "look outward" and run a competitive analysis. There are lessons about sales, marketing, and localization strategy that you can learn from observing and analyzing competitor activity in your target markets. Here are some questions about competitors to consider when planning for localization.
While not an exhaustive list of questions, this should definitely help spark some concrete ideas on initial steps your company can take as you receive external funding and prepare to tackle the international market.
Proper localization planning will help you develop a robust localization program and, ultimately, will allow for a more global brand image and more delighted customers overseas.
If you wish to explore this or other topics surrounding localization in greater detail, click the link below for a free consultation with a SimulTrans localization specialist - we would be happy to hear from you!