Monday, 30 January 2017

How Many Languages Does Your Business Speak?

Opportunity for International Expansion

Language is the first entry-barrier when it comes to entering new markets. People are more likely to buy a product when information is presented in their own language. 

Therefore, adapting existing products to new markets through translation and localization management is key for global growth and decision-makers become increasingly aware of its growing importance. Businesses that start localizing to sell abroad tend to grow faster and most business success stories have a strong concept of going international early on addressing an international audience.

In fact, companies that invest in translation are 1.5 times more likely to experience an increase in total revenue, according to a survey of Fortune 500 companies by Common Sense Advisory in 2011. E.g. FAMILO, a Hamburg-based Startup, developed localized versions of its app in 12 different languages and the results were astonishing. 

Since they began localizing their software, FAMILO multiplied its user base from 100.000 to 500.000 registered users and thereby increased its user reach for their mobile app by 400 percent – the number is still growing.

Translation Itself Is Not Enough

Translated content can reach new potential customers, allowing them to learn about your products. However, the translation itself is not enough. Success in emerging markets requires adaptation to local conditions, attitudes, and values. It is more than-than e.g. just translating a product’s user interface. Businesses localize products in order to overcome cultural barriers and to create a more culturally relevant customer experience. 

This results in customers being more likely to spread the word about the product. Businesses that localize content, therefore see improvements in market share, engagement, and revenue.

Although a business might be successful in its native country, going global and penetrating a new market is easier said than done. Proper processes for translation and localization management need to be set up and local market conditions need to be monitored. Professional tools can support and boost the process. There are translation management platforms that can speed up the localization process by automating multi-language operations.

How Many Languages Does Your Business Speak?

Translated and localized content can work as a multiplier for your business. Extending already created products to the global market is an effective but often overlooked approach for acquiring new customers and increasing profits. Within our globalized world, barriers to market entry have never been so low. So, are you ready for international expansion?


Friday, 20 January 2017

5 Reasons Why Startups Should Consider Website Localization in 2017

Given their opportunities to go global and thrive in every corner of the world, website localization has become important for startups. As language is one of the major barriers for businesses, thriving in geographical markets requires implementing local languages in the marketing campaign.

Localization is not just about website translation but making potential customers feel that the business is a part of their local customs and culture. It is one of the best ways businesses can break down the barriers that comes with geographical differences.
Here are five reasons why startups should seriously consider website localization in 2017.

1. It Breaks Linguistic Barriers

If you are in the B2B or B2C space, then your primary aim is to sell more of your products to other businesses and customers. Breaking the linguistic barrier and increasing the profit is easier when a customer can access your website regardless of his local language.
Website localization has helped people increase opportunities in various markets worldwide. What’s more, recognition as a player in the international market and having clearer and understandable web content is a basic credibility sign. After translating your website to many languages, you will easily ask your foreign customers to review your services or products.
Provision of comprehensive and believable information will also help your website to stand out as a reputable source in the international market.

2. Website Localization Is More Cost -Effective

Perhaps, you might be thinking that opening a local store is important when it comes to doing businesses in all parts of the world. It’s not.
With a multilingual website, you will start by testing the waters and then proceed to invest in the best markets without having to invest in a new team. Moreover, as a business owner, you will avoid the overhead costs expected when a person is physically present in the international markets.
You will only increase your investment if the sales grow on the multilingual website.

3. Less Competition for SEO Keywords

Did you know that today people are competing to rank on the first pages of search engines more than before? It’s true!
Most businesses have realized the benefits Search Engine Optimization (SEO) can have on their websites. They are therefore working hard to get the best SEO keywords combinations that can increase traffic on their websites.
However, SEO keywords are only competitive in English. When your website is in any language, other than English, the competition for keywords drops off. That’s natural, considering people create less content in the other languages.
By localizing your website, you will open doors to rank for the less competitive keywords in the other languages. As a result, your website traffic will increase. Another benefit: growth in Domain Authority, which will help you rank better in the domestic keywords.

4. Increase in Customer Engagement

The great first impression does not only apply to the physical businesses, but to the online businesses as well. While trying to build credibility, ensure that all your users are having a positive experience on your site. That is more likely to increase the interaction between the customers and your business in the near future.
If a prospective customer has found exactly what he/she wanted, the chances of returning and bringing more customers are high. They will market your website through recommendations and word of mouth.

5. Global Brand Recognition

If many customers can recognize your brand, then your profits are likely to increase. Proper website localization will lead to your brand recognition worldwide. If you can speak with your potential customers in their local language, then they will associate themselves with your brand and rely on your business as the solution to their needs.
The main goal of localizing a website is to increase the number of customers and boost sales. With proper execution, customer acquisition, and more sales can be the best strategy for any business. Provided you have a firm website localization strategy and firm execution, acquiring new customers and increasing your sales will be easier.


Tuesday, 10 January 2017

Digital Translation Services:How to Ensure High-Quality and Accurate Translation with Greater Efficiency

Our world is increasingly connected, and the impact of globalization reaches organizations in all market sectors. It's easier than ever for companies across industries to operate in any country throughout the world, opening up new market opportunities and chances for high returns. But organizations face a significant barrier to entry when expanding into new markets: language. 
Today's global economy does not operate under a single language, and organizations must be able to translate content and key materials with efficiency to comply with global regulations and effectively engage with local customers in new markets.
Localization service providers are in the business of solving these exact challenges, allowing organizations to use digital technology to easily process and translate materials. While this practice is important for organizations in all industries looking to break into new markets, there are two industries in particular where the stakes of accurate and quality translation are particularly high - life sciences and financial services. In financial services, the implications of reporting mistakes are extremely costly, not only with regulatory fines but also with reputational risk. In life sciences, the stakes are arguably even higher where errors in dosage instructions and regulatory documents can potentially lead to loss of human life.
With these high costs and risks as well as the complex regulatory landscape these two industries face, quality translation is essential to maintaining compliant content and documentation. Through the use of third-party language service providers and new digital processes, companies in these high-risk industries are able to streamline the translation process to maintain compliance and avoid damaging errors.
Reducing Risk in Financial Services

The financial services market is a global industry, with many investors and banks looking to capitalize on international market growth. For financial institutions such as banks and wealth management firms, adhering to compliance and regulatory standards in foreign markets is essential, but can be challenging.
In the U.S. market alone, regulation and reporting have increased significantly, and with the implementation of Dodd-Frank, compliance has become a costly operation. According to the Financial Times, top global investment banks have racked up $43 billion in customer reporting fines over the past seven years. Errors in reporting, mistakes in compliance disclosures on websites and incorrect filings can have a catastrophic impact on financial institutions and publicly listed corporations. For example, in 2012, Google released an incorrect and incomplete version of its form 8-K. The corporation was forced to stop trading activity, and shares in the company dropped 9% in value. This is just one example of how the risk of incorrect documentation can significantly impact a company's bottom line when it comes to financial reporting.
Financial institutions can reduce the risk of reporting and compliance errors by partnering with third-party language service providers to oversee the translation of documentation for foreign customers. By enlisting high-quality translation, financial services companies can ensure that compliance language on websites, in the documentation, or even on mobile applications is accurately translated and meets regulatory standards. By outsourcing translation and reducing compliance risk with precise language, financial services companies can more effectively focus on operations essential to their success.
Translation for Compliance in Pharma

The global biopharma industry is a lucrative one, worth over $300 billion per year according to the World Health Organization, and pharmaceutical companies often invest millions of dollars into the development of a single drug. But while pharmaceutical companies strive for high returns, they also face significant risks. Drugs in development have only a 10,000 to one chance of making it to market after successfully complying with stringent regulatory processes. But more importantly, the very nature of the industry means human lives are at stake. There is absolutely no room for error in clinical trial documentation, regulatory submissions or patient dosage instructions, and language in documentation must be translated with 100% accuracy.
Most pharmaceutical companies do not have the expertise in place to accurately translate content, so they are increasingly partnering with translation providers to help them through the regulatory process. Language service providers can translate regulatory documentation, pharmaceutical instructions, and even clinical trial recruitment materials to assist pharmaceutical companies in the drug development process. Relying on high-quality translation is essential for life sciences companies looking to safely and effectively bring their drugs to market.
Streamlining Translation through Digital Processing and Automation

In recent years, digital technology has created a new landscape for the translation process for companies in the financial services and life sciences industries to receive high-quality and accurate translation with greater efficiency. With the extensive management of documentation required in both of these industries, digital processes are a welcome change. Translation service providers can now integrate with connectors and APIs to streamline and even automate the translation process. Content can be stored in cloud-based repositories to allow organizations to centrally manage their translation projects, enabling self-service. Project managers can oversee the translation of compliance and regulatory documentation for multiple markets a time through one interface.
For financial services and life sciences companies, having access to digital solutions enables faster translation of regulatory compliance documentation, which is essential to streamlining business processes. In industries where there is no room for error, digital technology is simplifying the translation process and enabling companies to achieve compliance with the necessary efficiencies to compete - and win - in the global market.