Why localize your content for each target market?

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We’ve compiled some statistics to illustrate the business value of localizing content for each target market.

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Why localize your content for each target market?

  1. 1. Why Localize? of North American execs expect increase in foreign revenues think their company’s number of overseas clients will increase in the next three years admit that communication misunderstand- ings have stood in the way of a major cross-border transaction, incurring significant losses for their company At VIA we’re often asked “Why do I need to localize my marketing materials when everyone speaks English?” So we’ve compiled some statistics to illustrate the business value of localizing content for each target market. Because it’s worth it! 95% of Chinese online consumers prefer Chinese-only websites and Chinese shoppers will outspend the US in 2013 believe it is important to achieve increased global revenue Number of languages in the world of EU citizens state that they have sufficient skills in English to have a conversation 71% 9 in 10 What do multinational organizations want? 74% What do the people want? Non-English speakers declare 75% say they want the products in their native language 60% rarely or never buy from English-only websites 60% ! say information in their language is more important than price 56.2% What do they both want? Key points Buyers want the information in their first language Non-English Speakers • They will often pay more to get it • Alternatively, they will go elsewhere Challenges and reality You can’t please everyone, but you can please most everyone 7,000 Number of languages to reach 80% of global population 83 Budget restraints will always dictate localization strategy & support 9 out of 10 users would prefer to visit a website in their own language . Yes Even in Europe where English speakers are common? Multinational Organizations More revenue Assumptions we make of the South African population has an adequate proficiency in English for the purposes of economic activity Indian adults can speak English: • 4% report that they can converse fluently in English • An additional 16% report that they can converse a little in English Only 38% Only 25% Everyone speaks English in business Lithuanians (80%), Latvians (70%) & Estonians (66%) More likely to know Russian Few Japanese speak fluent English Including business people. Fluent Japanese is essential in Japan Citizens of Slovakia (32%), the Czech Republic (28%) & Hungary (25%) More likely to know German When I travel, everybody speaks English fluently Quack comprehension of a newspaper is considered “fluent” 80% That’s about 4,000 words 10,000 wordsThe average US high school student knows 20,000 wordsAverage US graduate knows about One Half Evidence from India suggests that being fluent in English increases the hourly wages of men by 34% and of women by 22%. was the addressable economic potential using online communication in 2012. $44.6 trillion Only a third of that was addressable in English as a native tongue. More people will buy what you're selling if you localize it Is English-only enough? Sources: Common Sense Advisory, Number of Languages Necessary to Reach 90% of Online Audiences around the Globe Climbs to Twenty-one, 2012 Forrester Research, Translation and Localization of Retail Web Sites, 2009 Bill Sullivan, IBM Globalization Executive, LocWord Keynote speech 2012 2005 India Human Development Survey, Financial Times, India www.pacificbridge.com/publication.asp?id=20 www.internetretailer.com/2014/02/20/m-commerce-saturating-globe www.economistinsights.com/sites/default/files/downloads/Competing%20across%20borders.pdf Common Sense Advisory, Can't Read, Won't Buy: Why Language Matters on Global Websites; Our 2014, larger-scale behavioral study Assumption 1 English is the 2nd language of choice globally Assumption 2 It costs nothing to do it in English-only Assumption 3 www.viadelivers.com Copyright 2014, VIA, Inc. 1 in 5 Number of languages to reach 80% of online population 12

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