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Advertising and marketing localization and globalization

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Advertising and marketing localization and globalization

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PHOTO: Slava Bowman

Multinational companies have capitalized on the phenomenon of globalization by expanding into several foreign markets over the past two decades. For many of these companies, globalization has been the main focus and source of profit. But that is certainly not the case with all companies.

After the ongoing pandemic, many companies faced challenges related to taxation, regulation of specific industries, supply chains and trade routes, which hampered previous globalization efforts.

Faced with these challenges, many companies have looked inward and focused on domestic production and expansion efforts. This forced shift away from global markets and towards local ones makes people wonder if localization is the new globalization? We spoke to localization professionals to find out how companies can tweak their tactics to thrive during this time of localization.

What is localization?

Localization is the process of customizing products, services, and content to appeal to local users. For many companies, this means focusing on translating content so that audiences in different countries can understand exactly what is being said. Localization therefore serves as a form of personalization for users, providing them with content that is tailored to their specific needs.

It goes much deeper than just translating content, however. However, according to Nedelina Payaneva, digital marketing specialist at London-based translation and localization company Asian Absolute, “localization goes beyond translating languages. It also refers to the localization of culturally appropriate images, symbols and hand gestures, spelling and other country-specific components. “

How is globalization different from localization?

Understanding the differences between globalization and localization is important for companies pursuing localization. If your focus is on globalization, some of the questions you are considering might include the support teams required to expand into different countries. As Nikita Agarwal, Director of Bangalore, Milestone Localization, in India explains, this can mean that you consider the languages ​​or time zones your team is present in and whether you have the resources to achieve globalization.

Also, Payaneva added, “You need to narrow down the markets that are most profitable for your offering. Market size, cost efficiency, the supply of labor and resources as well as legal regulations must also be taken into account. ”

On the other hand, if the company is focused on localization, less research is likely to be required to understand what is needed. Still, these factors are just as important when working with local markets. So if companies are to embrace localization, what benefits can they count on?

More business opportunities

Localization, whether by concentrating on local resources or adapting content to different markets, offers numerous opportunities to increase sales and improve customer relationships. For larger companies, the appeal of personalized content can make all the difference between customers choosing them or their competitors. Additionally, focusing on local resources provides an opportunity to build better relationships and strengthen regional connections to help build brands.

It’s also worth considering that e-commerce has grown exponentially over the past year. For brands selling in global markets, customizing their content and products to match the language and culture of their customers can encourage them to buy. With local supply chains and markets disrupted, local markets may present lower manufacturing costs and opportunities to companies hoping to keep up with demand.

Tools to improve localization

Localization could be the next major trend that companies are adopting to move to the next level, even as the focus on globalization returns in the years to come. However, to benefit from localization, here are some tips that our experts recommended.

Hire the right people

The most important resources for proper localization are the people you hire. “Localization has to be done with human input (from someone who understands the language and culture),” says Agarwal. Even with the most expensive tools in place, you still need to rely on local talent to make sure your message gets through, whether by hiring someone in-house or by outsourcing it.

CAT (Computer Assisted Translation) and TMS (Translation Management System) software

CAT and TMS are software tools that can help companies translate content more efficiently. Just like the marketing software tools used by companies such as CMS and Analytics, these CAT and TMS tools can streamline and automate parts of the localization process and can be embedded in organizational workflows.

graduation

Large companies have benefited from globalization over the years, but we seem to be entering a phase where companies are focusing on targeting smaller local markets. As companies try to maximize their potential during this time, having access to the right tools can be critical.

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