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GLOBAL
LANGUAGE BRIEF
Global Speak Translations
Contents
Executive Summary
Question 1:
Question 2:
Question 3:
Question 4:
Question 5:
Whyshouldmybusinessconsidercommunicating
inlanguagesoutsideofEnglish?
Conclusions
© 2016 by Global Speak Translations
All rights reserved.
www.globalspeaktranslations.com
2016 Global Language Brief
3
4
5
6
7
8
10
2
Whatdoeslanguagehavetodowithmydigital
marketing&SEOstrategy?
Howcanlanguagehelpmycompanytapintonew
andemergingmarkets?
How can a foreign language strategy increase
company profits?
How will multilingual communication make my
business more competitive?
3
Executive Summary
Asabusinessexecutive,it'syourjobtoexplorethetoughquestionsthataccompany
anyplansforglobalexpansion. Thisincludeshowyouuselanguagetomarketyour
company,andhowitcanhelpyouandyourteamconductbusiness.
Regardlessofyourroleorrankwithinanorganization,itiscriticalthatyou
understandthepowerandpotentialofamultilingualapproachintheglobalbusiness
marketplace.
Businesses,andbusinessprofessionals,todayneedtoacceptthefactthatwelivein
anincreasinglymulticulturalsphereofinfluence. It'snotjustaboutthewaywedo
business-it'salsoabouthowwecommunicatewithoneanother.
Ifyouwanttokeepyourorganizationanditsservicesrelevantinthisdayandage,
youneedtobeabletocommunicateeffectively. Whetheritisinyourhomemarket,
oranewventureabroad,thesinglemostimportantcomponentinyourstrategy
needstobelanguage.
Ifyoufailtorecognizeandacknowledgethatwearesteppingintoanincreasingly
diversemulticulturalbusinessmarket,youruntheriskofbecomingirrelevant. Like
theadventofsocialmediaandtheensuingtechboom,youcanonlybeassuccessful
asyoupositionyourselftobe.
Languagemightnotbeuniversal,butitmakesourworldturn. Itispresentinevery
facetofyourcurrentbusinessstrategy-you'rejustnottakingadvantageofit.
That'swhyyouhavetostartaskingthedifficultquestions.
Thiswhitepaperexploresfiveofthesequestions:
1: WhydoesmybusinessneedtocommunicateinlanguagesoutsideofEnglish?
2: Whatdoeslanguagehavetodowithmy digitalmarketing&SEOstrategy?
3: Howcanlanguagehelpmycompanytapintonewandemergingmarkets?
4: Howcanforeignlanguagestrategyincreasecompanyprofits?
5: Howwillmultilingualcommunicationmakemybusinessmorecompetitive?
Companiestodayneed
technicallanguage
solutionsthatkeepthem
safe,productiveand
profitable.
Whenconsideringexpandingintoemergingorforeignmarkets,you
naturallygravitatetowardsthesinglemostconsideredquestionin
business-"Howmuchwillitcostus?"
2016 Global Language Brief
4
Question #1:
Why does my business need to communicate
in languages outside of English?
Today, you need 21
languages in order to
communicate with 90%
of the world's online
audience.
Englishisn'tthemostcommonlanguageintheworld. Itdoesn'teven
ranksecond. Wanttocommunicatewiththeglobalmasses? Theyare
probablyspeakingMandarinorSpanish.
Background
Mandarin
#1
#2
Spanish
2016 Global Language Brief
ItisestimatedthatEnglishspeakersrepresent360millionpeopleacrosstheglobe.
Inrecentyears,EnglishhasfallenbehindMandarinandSpanishasthemostcommon
tonguesintheworld.
Consideringthattheglobalpopulationisestimatedtobe7.1billion,communicating
strictlyinEnglishisalienatingyourbrandfromthevastmajorityofpotentialglobal
consumersandclientele.
Nottomentionthefactthat,accordingtotheUnitedStatesCensusBureau,atleast
350languagesarespokeninhomesacrosstheUnitedStates.¹ Wearenotjustliving
inanincreasinglyculturallydiverseglobalmarket-weareseeinganumberofthese
multiculturalshiftsrighthereathome,acrossallmajormetromarkets.
Forexample,didyouknowthatanestimated44millionpeoplespeakSpanishherein
theUnitedStates?
Languageisthemostfundamentalaspectofcommunication. Thefailuretoproperly
leveragethelanguagehabitsofyouraudience,whetherathomeorabroad,isarisk
thatyourbusinesscan'tafford.
Consideryouraudience. IfyouarebasedintheUnitedStates,languageisstilla
relevantconcernforyouroverallbusinessandmarketingstrategies. Forexample,in
Houston,TXalone,nearly40%ofresidentsfiveyearsorolderspeakalanguageother
thanEnglishathome.
1. Benjamin B. Sargent, “ROI Lifts the Long Tail of Languages in 2012”, Common Sense Advisory, Inc., 1 December 2015, pages 1-7.
2. Retrieved 1 December 2015 from www.census.gov/newsroom/press-releases/2015/cb15-185.html.
¹
5
Question #2:
What does language have to do with my digital
marketing & SEO strategy?
DidyouknowthatGoogledeliversmorethanhalfofitssearchresultstocountries
outsideoftheUnitedStates?¹
AlthoughthetechgiantwasfoundedinCalifornia,Google'ssearchinterfaceis
availableinmorethan130languages. Furthermore,Internetusersacrosstheglobe
canandwilltailortheirsearchqueriestoreflectoptionsavailableintheirnative
tongue. IntheEuropeanUnionalone,nearly90percentofInternetuserssaidthat
webcontentproducedintheircountryshouldbeintheirnativetongue.²
Thatistherealityofthemodernbusinesstoday-itisnaturalthatcustomersrespond
mostfavorablytocontentthatispresentedintheirnativelanguage,especiallywith
theriseofdigitaltrendsandtechnology.
Weliveinaworldtodaywherethevastmajorityofpeoplehaveaccesstoorregularly
utilizeaninternetconnection. Ifyouwanttoberelevanttotheglobalmasses,you
havetoadaptamultilingualapproachtoyourbrandingandmarketingefforts.
Remember,restrictingyourselftoEnglishonlyreducesyourpotentialforSearch
EngineOptimization(SEO),ultimatelyhinderingyourbrand'sdigitalfootprint.
Thisincludessocialmediaplatforms,suchasFacebook,Twitter,LinkedInand
YouTube,allofwhichshouldbekeyfacetsofyouroverallbrandstrategy.
WhenitcomestoSEO,itisanumbersgame. Themorecontentorwebpagesyou
generateinagivenlanguage,themoreyouarelikelytoturnupinonlinequeries.
Learningtotalkthetalkcanbeagame-changerforyourdigitalstrategy.
Websitesofferingmore
thanonelanguage
boostssearchabilityand
performanceacross
searchandsocial
platforms.
Does adapting a proactive language strategy boost your online
presence? How can honing your multicultural digital footprint make
you more accessible to the global masses?
Background
2016 Global Language Brief
88%
IntheEU,88%ofInternetusersindicated
thattheythoughtwebsitesproducedin
theircountryshouldbeintheirnative
language.
1. Retrieved 1 December 2015 from www.google.com/about/company/philosophy/.
2. European Commission, “User Language Preferences Online”, Eurobarometer, The Gallup Organization, May 2011, page 6.
6
Question #3:
How can language help my company tap into new and
emerging markets?
Whenitcomestonewandemergingmarkets,fewarelocatedwithintheUnited
States. Infact,LatinAmericaandAsiahavebeenidentifiedaskeygrowthmarkets
forglobalbusinessandcommerce,withanumberofcountriesexpectedtocompete
intheglobalbusinessarenainthecomingyears.
Mexico,whichrankssecondamongLatinAmerica'seconomies(secondonlyto
Brazil),haslongbeentoutedasoneofthosemarkets. A recentreportfrom
GoldmanSachsindicatedthatMexicoisexpectedtogrowtobetheworld'sfifth
largesteconomyby2050,surpassingcountrieslikethoseintheUnitedKingdom.¹
AsimilarreportbyPriceWaterhouseCoopershasforecastedMexicoasthesixth
largesteconomyintheworldby2050.
Generallyspeaking,
regionsidentifiedas
emergingmarketsare
areaswhereEnglish
fluencyisatitsweakest.
Thecountriesthatareexperiencingthemostrapideconomicgrowth
are,bylarge,notEnglishspeaking. Infact,someofthemost
interestingemergingmarketsaresituatedacrossAsiaandLatin
America.
Background
2016 Global Language Brief
Additionally,whenyoufactorinthefactthatPeru,MexicoandColumbiaareall
listedasthe20fastest-growingeconomiesacrosstheglobe,LatinAmericaisa
primebusinessdestinationforglobalbusiness.
Ontheothersideoftheglobe,Chinaistappedtodominateallglobaleconomiesby
2050,withaGDPestimatedtobenearlydoublethatoftheUnitedStates. China
currentlyrankssecondamongworldeconomies,takingoverfromJapanseveral
yearsago.
Themainhurdleindoingbusinessinanyoftheseregionalmarketsislanguage.
InChina,Englishlanguageproficiencyhastakenabackseat. Thecountryhasfallen
farbehinditsregionalpeers,andcurrentlyranksbehindthelikesofSingapore,
SouthKorea,IndonesiaandPakistan,amongmanyothers.
1.JimO’Neill,DominicWilson,RoopaPurushothaman&AnnaStupnytska,“GlobalEconomicsPaperNo:134”,GoldmanSachs,1December2005,
pages1-24.
7
Question #4:
How can a foreign language strategy increase
company profits?
Whencompaniesneedtomakedecisions,whetheryouareevaluatingspending
prioritiesordevelopingaplanforglobalexpansion,theyoftenleanontheirROIfor
insight.
Inthemodernbusinessmarket,there'sgoodnewsandbadnewswhenitcomesto
ROIandgloballanguage.
Thebadnewsisthatyouneedmorelanguagesthaneverbeforetoreachmostofthe
world'spopulation.²
Thegoodnewsisthatspendingonlanguageservices,suchastranslationor
interpretation,escalatesprofitsacrosstheboard,becausemoreandmorepeoplein
themodernworldaredevelopingintoinformationconsumers.⁴
ArecentCommonSenseAdvisoryreporthasshownthat,overthecourseofthelast
fewyears,addressableeconomicpotentialforonlinecommunicationhasballooned
from$36.5trilliontoupwardsof$44.6trillion. Adecliningportion-roughlyathird-
ofthattotalaccountsforEnglishasthenativetongue.³
It'squitesimple-themoreprominentalanguage'sonlinepresencebecomes,the
moreeconomicspendingpoweritaccumulates. Inaworldwhereconsumersand
customersareconstantlyinteractingwithgoodsandservicesonline,companiesneed
tocompensatewiththeabilitytoaccessandcultivatebroadercirclesofinfluence,
whichismosteasilyattainablethroughlanguage.
Languageimprovesprofitandinfluencebecauseitmakesyoupartofthe
conversation. Itisthestrongfoundationonwhichyoubuildyouroverarchingbrand
strategy. Byadaptingaproactiveandlocalizedlanguagestrategy,businessesare
abletocreatecontentthatimpactsprospectivebuyers.
Astheworldevolvesintoacultureofinformationconsumption,organizationsneedto
addressunprecedentedeconomicopportunitiesthroughinfluence.
Did you know that companies
that invest in translation
spending are 1.5 times more
likely than their Fortune 500
peers to see a jump in total
revenue?
Inthebusinessworld,cashisking. Businesseswanttooptimizetheir
servicesandmaximizeprofits,andthatincludesprofitingontheinitial
investment. OneofthebestwaystodriveROIisthroughstrategic
localizationefforts,aidedprimarilybylanguage.
Background
2016 Global Language Brief
1.BenjaminB.Sargent,“ROILiftstheLongTailofLanguagesin2012”,CommonSenseAdvisory,Inc.,1December2015,pages1-7.
2.Ibid.
3.Ibid.
4.RebeccaRayandNatalyKelly,"TranslationatFortune500Companies",CommonSenseAdvisory,Inc.,27March2012,pages1-19.
¹
8
Question #5:
How will multilingual communication make my
business more competitive?
Let'sfaceit,thebusinessworldasweknowitischanging.
Increasinglydiversecommunitiesandtheadventofsocialmediahavepresenteda
numberofchallengesforcompanies,bothathomeandabroad. Consumershavethe
WorldWideWebattheirfingertips,anditisyourjobtostandoutinanincreasingly
saturatedmarketplace.
Yourcompanyneedstobeabletocommunicatewiththemasses,whetheryouare
targetinginternationalmarketsorattemptingtoconnectwithnon-Englishspeaking
audiencesathome.
IntheUnitedStatesalone,64percentofadultsownasmartphone. What'smost
interestingisconsumerbehaviorwithsmartphonedevices-nearly35percentof
usersrelyontheirmobilephoneforthemajorityoftheirwebbrowsing.¹
Thisisahugedevelopmentforcompaniesbecause,forthefirsttimeever,
organizationscaninteractdirectlywiththeiraudience,wherevertheymaybeinthe
world. Youdon'thavetobeonthegroundorinthecountrytoberelevantinthat
market-youcanconnectwithahugeportionoftheglobalpopulationremotely,
throughlanguage.
Forexample,didyouknowthatSpanishistheofficiallanguageof21countries
acrossLatinAmerica,Europe,AfricaandtheCaribbean? Thattotalsmorethan400
millionspeakersacrosstheglobe. That'smorethantheglobalEnglish-speaking
populationbyawhopping40million.
Andwhileyoudon'thavetoleavetheUnitedStatestoreachalargeSpanish-
speakingaudience,theabilitytocommunicatewithnearlyhalfabillionpeoplewould
poseasignificantcompetitiveadvantage.
Atit'score,businessisaboutopportunity. Theorganizationthateffectively
leveragesglobalopportunitycanandwillemergevictoriousintheincreasingly
competitivebusinessarena.
Afterall, intheSpanish-speakingworldalone,yourorganizationhasapproximately
400millionopportunities.
Offering branded,
translated and localized
content in dedicated
markets will put your
organization light years
ahead of competitors.
Theriseofthedigitalageisrevolutionizingthewaywedobusiness.
Evenbrick-and-mortarbusinessesarelearningthepowerofmobile
technology. Inasocietydrivenbyinstantgratification,isyour
organizationmakingthegrade?
Background
2016 Global Language Brief
64%
ArecentPewInternetProjectreporthasrevealed,as
ofOctober2014,64%ofAmericanadultsowna
smartphone. Thereportalsodetailedbrowsing
behaviors,revealingthat34%ofAmericansMOSTLY
usetheirsmartphonewhilebrowsingonline.
1. Retrieved 1 December 2015 from www.pewinternet.org/fact-sheets/mobile-technology-fact-sheet/.
9
Finding the resources you need
It is impossible to adequately assess your company's international expansion
strategy without first developing an in-depth understanding of your target market.
After all, you can't know your audience until you understand the way they live,
communicate and make decisions regarding goods or services.
It is a good idea to assign an individual or team to explore your target market, so
that you may adequately gauge the effectiveness of your business or marketing
plan. From the legal sector to local competitors, your company needs to keep its
finger on the pulse.
It'senoughtomakeyou
wonder-whatkindsof
businessopportunities
areyoumissingouton?
Thiswhitepaperhasposedanumberoftough,relevantquestionsfor
thosenavigatingthemodernbusinessmarketplace.
Hereareafewsuggestionstohelpyoufindtheanswersyouneed.
Tip #1: Understanding Your Marketplace
2016 Global Language Brief
Tip #2: Important In-House Research
Tip #3: There's No Place Like Home
Thereareseveralfactorsassociatedwithanysortofinternationalmarketexpansion,
-factorsthatgoaboveandbeyondlanguageandtheabilitytocommunicate. In
additiontobeingabletocommunicate,yourcompanyalsoneedstoconsider:
Existing or developing infrastructure
Legal guidelines, including labor and other business laws
Purchasing habits in dedicated cultural market
How familiar your target market is with your product or service
Remember,languagewillplayacriticalroleineverythingyoudoalongthepathto
internationalorglobalexpansion. Youwillneedtodevelopbusinessrelationships
onallofthesefrontstoguaranteeaseamlesstransitionfromoneculturalnormto
another.
Likeyou,yourcompanyandbrandneedtofeelathome,regardlessofwhereyouare
intheworld. Sinceyouandyourteamwilllikelybetravelingtoorlivinginthisnew
market,developingaworkingknowledgeofthelanguageandthecultureare
necessary. Askyourself-"Isthistheplaceforus?"
Ifatfirstyoudonotseetheanswersyouwantorneedinadedicatedmarket,donot
losefaith. Theworldisavastandever-evolvingplace. Withtherightlocalized
strategy,youandyourorganizationwillconquerthenextgreatfrontier.
10
Conclusions
Thiswhitepaperhasdemonstratedseveralareaswherebusinessexecutivesand
decisionmakersneedamorein-depthandthoroughanalysisofglobalbusiness.
Thisanalysisfocusesonthesinglemostimportantbuildingblockinbusiness-
language. Andthisneedstobeunderstoodonalllevelswithinyourorganization.
Youneedtoacceptthefactthatweliveanddobusinessinanincreasingly
multiculturalworld. Steppingoutsideofyourculturalcomfortzoneisnolongeran
option-itisanecessity,oryouruntheriskofbecomingvirtuallyirrelevant.
AslegendaryAmericanBasketballCoachJohnWoodenoncesaid,"Failingto
prepareislikepreparingtofail." Youandyourorganizationdohaveaplaceinthe
globalbusinessarena,butyoumustinvestthetimeandenergyincultivatinga
localizedlanguagestrategy.
Ifyoudon't,considerthis-howdifferentisthebusinessworldtodaythanitwaslast
year,ortenyearsprior? Asbusinesspeople,weareconstantlyevolving. Ourmethod
ofthinkingandthewaywecommunicatemustcontinuetodosoaswell.
About Global Speak Translations
Wepublishedthiswhitepapertoassistcompaniesofallsizesinunderstandingthe
roleandadvantageofmultilingualcommunicationintheglobalbusinesssector.
Itisourexperiencethatadaptingastrong,localizedlanguagestrategyallows
companiestoexperienceacceleratedgrowthanddevelopmentacrosshomeand
emergingmarkets,allwhilecontinuingtohoneandbettertheircurrentbusiness
goalsandstrategies.
Tolearnmoreaboutthebenefitsofadaptingaglobalbusinessfootprint,ortodiscuss
howlanguagecanhelpyourcompanygrowandprosperintothefuture,feelfreeto
contactusat844.55.SPEAK,oremailinfo@globalspeaktranslations.com.
Weliveinamulticultural
world,andcompanies
needlanguagestrategies
tobridgethegrowing
communicationgaps,
bothat-homeand
abroad.
Global Speak Translations
P.O. Box 271225
Houston, TX 77277
info@globalspeaktranslations.com
www.globalspeaktranslations.com
2016 Global Language Brief

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The Monetization of Language

  • 2. Contents Executive Summary Question 1: Question 2: Question 3: Question 4: Question 5: Whyshouldmybusinessconsidercommunicating inlanguagesoutsideofEnglish? Conclusions © 2016 by Global Speak Translations All rights reserved. www.globalspeaktranslations.com 2016 Global Language Brief 3 4 5 6 7 8 10 2 Whatdoeslanguagehavetodowithmydigital marketing&SEOstrategy? Howcanlanguagehelpmycompanytapintonew andemergingmarkets? How can a foreign language strategy increase company profits? How will multilingual communication make my business more competitive?
  • 3. 3 Executive Summary Asabusinessexecutive,it'syourjobtoexplorethetoughquestionsthataccompany anyplansforglobalexpansion. Thisincludeshowyouuselanguagetomarketyour company,andhowitcanhelpyouandyourteamconductbusiness. Regardlessofyourroleorrankwithinanorganization,itiscriticalthatyou understandthepowerandpotentialofamultilingualapproachintheglobalbusiness marketplace. Businesses,andbusinessprofessionals,todayneedtoacceptthefactthatwelivein anincreasinglymulticulturalsphereofinfluence. It'snotjustaboutthewaywedo business-it'salsoabouthowwecommunicatewithoneanother. Ifyouwanttokeepyourorganizationanditsservicesrelevantinthisdayandage, youneedtobeabletocommunicateeffectively. Whetheritisinyourhomemarket, oranewventureabroad,thesinglemostimportantcomponentinyourstrategy needstobelanguage. Ifyoufailtorecognizeandacknowledgethatwearesteppingintoanincreasingly diversemulticulturalbusinessmarket,youruntheriskofbecomingirrelevant. Like theadventofsocialmediaandtheensuingtechboom,youcanonlybeassuccessful asyoupositionyourselftobe. Languagemightnotbeuniversal,butitmakesourworldturn. Itispresentinevery facetofyourcurrentbusinessstrategy-you'rejustnottakingadvantageofit. That'swhyyouhavetostartaskingthedifficultquestions. Thiswhitepaperexploresfiveofthesequestions: 1: WhydoesmybusinessneedtocommunicateinlanguagesoutsideofEnglish? 2: Whatdoeslanguagehavetodowithmy digitalmarketing&SEOstrategy? 3: Howcanlanguagehelpmycompanytapintonewandemergingmarkets? 4: Howcanforeignlanguagestrategyincreasecompanyprofits? 5: Howwillmultilingualcommunicationmakemybusinessmorecompetitive? Companiestodayneed technicallanguage solutionsthatkeepthem safe,productiveand profitable. Whenconsideringexpandingintoemergingorforeignmarkets,you naturallygravitatetowardsthesinglemostconsideredquestionin business-"Howmuchwillitcostus?" 2016 Global Language Brief
  • 4. 4 Question #1: Why does my business need to communicate in languages outside of English? Today, you need 21 languages in order to communicate with 90% of the world's online audience. Englishisn'tthemostcommonlanguageintheworld. Itdoesn'teven ranksecond. Wanttocommunicatewiththeglobalmasses? Theyare probablyspeakingMandarinorSpanish. Background Mandarin #1 #2 Spanish 2016 Global Language Brief ItisestimatedthatEnglishspeakersrepresent360millionpeopleacrosstheglobe. Inrecentyears,EnglishhasfallenbehindMandarinandSpanishasthemostcommon tonguesintheworld. Consideringthattheglobalpopulationisestimatedtobe7.1billion,communicating strictlyinEnglishisalienatingyourbrandfromthevastmajorityofpotentialglobal consumersandclientele. Nottomentionthefactthat,accordingtotheUnitedStatesCensusBureau,atleast 350languagesarespokeninhomesacrosstheUnitedStates.¹ Wearenotjustliving inanincreasinglyculturallydiverseglobalmarket-weareseeinganumberofthese multiculturalshiftsrighthereathome,acrossallmajormetromarkets. Forexample,didyouknowthatanestimated44millionpeoplespeakSpanishherein theUnitedStates? Languageisthemostfundamentalaspectofcommunication. Thefailuretoproperly leveragethelanguagehabitsofyouraudience,whetherathomeorabroad,isarisk thatyourbusinesscan'tafford. Consideryouraudience. IfyouarebasedintheUnitedStates,languageisstilla relevantconcernforyouroverallbusinessandmarketingstrategies. Forexample,in Houston,TXalone,nearly40%ofresidentsfiveyearsorolderspeakalanguageother thanEnglishathome. 1. Benjamin B. Sargent, “ROI Lifts the Long Tail of Languages in 2012”, Common Sense Advisory, Inc., 1 December 2015, pages 1-7. 2. Retrieved 1 December 2015 from www.census.gov/newsroom/press-releases/2015/cb15-185.html. ¹
  • 5. 5 Question #2: What does language have to do with my digital marketing & SEO strategy? DidyouknowthatGoogledeliversmorethanhalfofitssearchresultstocountries outsideoftheUnitedStates?¹ AlthoughthetechgiantwasfoundedinCalifornia,Google'ssearchinterfaceis availableinmorethan130languages. Furthermore,Internetusersacrosstheglobe canandwilltailortheirsearchqueriestoreflectoptionsavailableintheirnative tongue. IntheEuropeanUnionalone,nearly90percentofInternetuserssaidthat webcontentproducedintheircountryshouldbeintheirnativetongue.² Thatistherealityofthemodernbusinesstoday-itisnaturalthatcustomersrespond mostfavorablytocontentthatispresentedintheirnativelanguage,especiallywith theriseofdigitaltrendsandtechnology. Weliveinaworldtodaywherethevastmajorityofpeoplehaveaccesstoorregularly utilizeaninternetconnection. Ifyouwanttoberelevanttotheglobalmasses,you havetoadaptamultilingualapproachtoyourbrandingandmarketingefforts. Remember,restrictingyourselftoEnglishonlyreducesyourpotentialforSearch EngineOptimization(SEO),ultimatelyhinderingyourbrand'sdigitalfootprint. Thisincludessocialmediaplatforms,suchasFacebook,Twitter,LinkedInand YouTube,allofwhichshouldbekeyfacetsofyouroverallbrandstrategy. WhenitcomestoSEO,itisanumbersgame. Themorecontentorwebpagesyou generateinagivenlanguage,themoreyouarelikelytoturnupinonlinequeries. Learningtotalkthetalkcanbeagame-changerforyourdigitalstrategy. Websitesofferingmore thanonelanguage boostssearchabilityand performanceacross searchandsocial platforms. Does adapting a proactive language strategy boost your online presence? How can honing your multicultural digital footprint make you more accessible to the global masses? Background 2016 Global Language Brief 88% IntheEU,88%ofInternetusersindicated thattheythoughtwebsitesproducedin theircountryshouldbeintheirnative language. 1. Retrieved 1 December 2015 from www.google.com/about/company/philosophy/. 2. European Commission, “User Language Preferences Online”, Eurobarometer, The Gallup Organization, May 2011, page 6.
  • 6. 6 Question #3: How can language help my company tap into new and emerging markets? Whenitcomestonewandemergingmarkets,fewarelocatedwithintheUnited States. Infact,LatinAmericaandAsiahavebeenidentifiedaskeygrowthmarkets forglobalbusinessandcommerce,withanumberofcountriesexpectedtocompete intheglobalbusinessarenainthecomingyears. Mexico,whichrankssecondamongLatinAmerica'seconomies(secondonlyto Brazil),haslongbeentoutedasoneofthosemarkets. A recentreportfrom GoldmanSachsindicatedthatMexicoisexpectedtogrowtobetheworld'sfifth largesteconomyby2050,surpassingcountrieslikethoseintheUnitedKingdom.¹ AsimilarreportbyPriceWaterhouseCoopershasforecastedMexicoasthesixth largesteconomyintheworldby2050. Generallyspeaking, regionsidentifiedas emergingmarketsare areaswhereEnglish fluencyisatitsweakest. Thecountriesthatareexperiencingthemostrapideconomicgrowth are,bylarge,notEnglishspeaking. Infact,someofthemost interestingemergingmarketsaresituatedacrossAsiaandLatin America. Background 2016 Global Language Brief Additionally,whenyoufactorinthefactthatPeru,MexicoandColumbiaareall listedasthe20fastest-growingeconomiesacrosstheglobe,LatinAmericaisa primebusinessdestinationforglobalbusiness. Ontheothersideoftheglobe,Chinaistappedtodominateallglobaleconomiesby 2050,withaGDPestimatedtobenearlydoublethatoftheUnitedStates. China currentlyrankssecondamongworldeconomies,takingoverfromJapanseveral yearsago. Themainhurdleindoingbusinessinanyoftheseregionalmarketsislanguage. InChina,Englishlanguageproficiencyhastakenabackseat. Thecountryhasfallen farbehinditsregionalpeers,andcurrentlyranksbehindthelikesofSingapore, SouthKorea,IndonesiaandPakistan,amongmanyothers. 1.JimO’Neill,DominicWilson,RoopaPurushothaman&AnnaStupnytska,“GlobalEconomicsPaperNo:134”,GoldmanSachs,1December2005, pages1-24.
  • 7. 7 Question #4: How can a foreign language strategy increase company profits? Whencompaniesneedtomakedecisions,whetheryouareevaluatingspending prioritiesordevelopingaplanforglobalexpansion,theyoftenleanontheirROIfor insight. Inthemodernbusinessmarket,there'sgoodnewsandbadnewswhenitcomesto ROIandgloballanguage. Thebadnewsisthatyouneedmorelanguagesthaneverbeforetoreachmostofthe world'spopulation.² Thegoodnewsisthatspendingonlanguageservices,suchastranslationor interpretation,escalatesprofitsacrosstheboard,becausemoreandmorepeoplein themodernworldaredevelopingintoinformationconsumers.⁴ ArecentCommonSenseAdvisoryreporthasshownthat,overthecourseofthelast fewyears,addressableeconomicpotentialforonlinecommunicationhasballooned from$36.5trilliontoupwardsof$44.6trillion. Adecliningportion-roughlyathird- ofthattotalaccountsforEnglishasthenativetongue.³ It'squitesimple-themoreprominentalanguage'sonlinepresencebecomes,the moreeconomicspendingpoweritaccumulates. Inaworldwhereconsumersand customersareconstantlyinteractingwithgoodsandservicesonline,companiesneed tocompensatewiththeabilitytoaccessandcultivatebroadercirclesofinfluence, whichismosteasilyattainablethroughlanguage. Languageimprovesprofitandinfluencebecauseitmakesyoupartofthe conversation. Itisthestrongfoundationonwhichyoubuildyouroverarchingbrand strategy. Byadaptingaproactiveandlocalizedlanguagestrategy,businessesare abletocreatecontentthatimpactsprospectivebuyers. Astheworldevolvesintoacultureofinformationconsumption,organizationsneedto addressunprecedentedeconomicopportunitiesthroughinfluence. Did you know that companies that invest in translation spending are 1.5 times more likely than their Fortune 500 peers to see a jump in total revenue? Inthebusinessworld,cashisking. Businesseswanttooptimizetheir servicesandmaximizeprofits,andthatincludesprofitingontheinitial investment. OneofthebestwaystodriveROIisthroughstrategic localizationefforts,aidedprimarilybylanguage. Background 2016 Global Language Brief 1.BenjaminB.Sargent,“ROILiftstheLongTailofLanguagesin2012”,CommonSenseAdvisory,Inc.,1December2015,pages1-7. 2.Ibid. 3.Ibid. 4.RebeccaRayandNatalyKelly,"TranslationatFortune500Companies",CommonSenseAdvisory,Inc.,27March2012,pages1-19. ¹
  • 8. 8 Question #5: How will multilingual communication make my business more competitive? Let'sfaceit,thebusinessworldasweknowitischanging. Increasinglydiversecommunitiesandtheadventofsocialmediahavepresenteda numberofchallengesforcompanies,bothathomeandabroad. Consumershavethe WorldWideWebattheirfingertips,anditisyourjobtostandoutinanincreasingly saturatedmarketplace. Yourcompanyneedstobeabletocommunicatewiththemasses,whetheryouare targetinginternationalmarketsorattemptingtoconnectwithnon-Englishspeaking audiencesathome. IntheUnitedStatesalone,64percentofadultsownasmartphone. What'smost interestingisconsumerbehaviorwithsmartphonedevices-nearly35percentof usersrelyontheirmobilephoneforthemajorityoftheirwebbrowsing.¹ Thisisahugedevelopmentforcompaniesbecause,forthefirsttimeever, organizationscaninteractdirectlywiththeiraudience,wherevertheymaybeinthe world. Youdon'thavetobeonthegroundorinthecountrytoberelevantinthat market-youcanconnectwithahugeportionoftheglobalpopulationremotely, throughlanguage. Forexample,didyouknowthatSpanishistheofficiallanguageof21countries acrossLatinAmerica,Europe,AfricaandtheCaribbean? Thattotalsmorethan400 millionspeakersacrosstheglobe. That'smorethantheglobalEnglish-speaking populationbyawhopping40million. Andwhileyoudon'thavetoleavetheUnitedStatestoreachalargeSpanish- speakingaudience,theabilitytocommunicatewithnearlyhalfabillionpeoplewould poseasignificantcompetitiveadvantage. Atit'score,businessisaboutopportunity. Theorganizationthateffectively leveragesglobalopportunitycanandwillemergevictoriousintheincreasingly competitivebusinessarena. Afterall, intheSpanish-speakingworldalone,yourorganizationhasapproximately 400millionopportunities. Offering branded, translated and localized content in dedicated markets will put your organization light years ahead of competitors. Theriseofthedigitalageisrevolutionizingthewaywedobusiness. Evenbrick-and-mortarbusinessesarelearningthepowerofmobile technology. Inasocietydrivenbyinstantgratification,isyour organizationmakingthegrade? Background 2016 Global Language Brief 64% ArecentPewInternetProjectreporthasrevealed,as ofOctober2014,64%ofAmericanadultsowna smartphone. Thereportalsodetailedbrowsing behaviors,revealingthat34%ofAmericansMOSTLY usetheirsmartphonewhilebrowsingonline. 1. Retrieved 1 December 2015 from www.pewinternet.org/fact-sheets/mobile-technology-fact-sheet/.
  • 9. 9 Finding the resources you need It is impossible to adequately assess your company's international expansion strategy without first developing an in-depth understanding of your target market. After all, you can't know your audience until you understand the way they live, communicate and make decisions regarding goods or services. It is a good idea to assign an individual or team to explore your target market, so that you may adequately gauge the effectiveness of your business or marketing plan. From the legal sector to local competitors, your company needs to keep its finger on the pulse. It'senoughtomakeyou wonder-whatkindsof businessopportunities areyoumissingouton? Thiswhitepaperhasposedanumberoftough,relevantquestionsfor thosenavigatingthemodernbusinessmarketplace. Hereareafewsuggestionstohelpyoufindtheanswersyouneed. Tip #1: Understanding Your Marketplace 2016 Global Language Brief Tip #2: Important In-House Research Tip #3: There's No Place Like Home Thereareseveralfactorsassociatedwithanysortofinternationalmarketexpansion, -factorsthatgoaboveandbeyondlanguageandtheabilitytocommunicate. In additiontobeingabletocommunicate,yourcompanyalsoneedstoconsider: Existing or developing infrastructure Legal guidelines, including labor and other business laws Purchasing habits in dedicated cultural market How familiar your target market is with your product or service Remember,languagewillplayacriticalroleineverythingyoudoalongthepathto internationalorglobalexpansion. Youwillneedtodevelopbusinessrelationships onallofthesefrontstoguaranteeaseamlesstransitionfromoneculturalnormto another. Likeyou,yourcompanyandbrandneedtofeelathome,regardlessofwhereyouare intheworld. Sinceyouandyourteamwilllikelybetravelingtoorlivinginthisnew market,developingaworkingknowledgeofthelanguageandthecultureare necessary. Askyourself-"Isthistheplaceforus?" Ifatfirstyoudonotseetheanswersyouwantorneedinadedicatedmarket,donot losefaith. Theworldisavastandever-evolvingplace. Withtherightlocalized strategy,youandyourorganizationwillconquerthenextgreatfrontier.
  • 10. 10 Conclusions Thiswhitepaperhasdemonstratedseveralareaswherebusinessexecutivesand decisionmakersneedamorein-depthandthoroughanalysisofglobalbusiness. Thisanalysisfocusesonthesinglemostimportantbuildingblockinbusiness- language. Andthisneedstobeunderstoodonalllevelswithinyourorganization. Youneedtoacceptthefactthatweliveanddobusinessinanincreasingly multiculturalworld. Steppingoutsideofyourculturalcomfortzoneisnolongeran option-itisanecessity,oryouruntheriskofbecomingvirtuallyirrelevant. AslegendaryAmericanBasketballCoachJohnWoodenoncesaid,"Failingto prepareislikepreparingtofail." Youandyourorganizationdohaveaplaceinthe globalbusinessarena,butyoumustinvestthetimeandenergyincultivatinga localizedlanguagestrategy. Ifyoudon't,considerthis-howdifferentisthebusinessworldtodaythanitwaslast year,ortenyearsprior? Asbusinesspeople,weareconstantlyevolving. Ourmethod ofthinkingandthewaywecommunicatemustcontinuetodosoaswell. About Global Speak Translations Wepublishedthiswhitepapertoassistcompaniesofallsizesinunderstandingthe roleandadvantageofmultilingualcommunicationintheglobalbusinesssector. Itisourexperiencethatadaptingastrong,localizedlanguagestrategyallows companiestoexperienceacceleratedgrowthanddevelopmentacrosshomeand emergingmarkets,allwhilecontinuingtohoneandbettertheircurrentbusiness goalsandstrategies. Tolearnmoreaboutthebenefitsofadaptingaglobalbusinessfootprint,ortodiscuss howlanguagecanhelpyourcompanygrowandprosperintothefuture,feelfreeto contactusat844.55.SPEAK,oremailinfo@globalspeaktranslations.com. Weliveinamulticultural world,andcompanies needlanguagestrategies tobridgethegrowing communicationgaps, bothat-homeand abroad. Global Speak Translations P.O. Box 271225 Houston, TX 77277 info@globalspeaktranslations.com www.globalspeaktranslations.com 2016 Global Language Brief