In our global world businesses need to be adaptive, innovative, and creative in order to prosper and reach new markets. The key to attracting new customers and retaining their loyalty is simple: speaking their own language. To this end, we can say that multilingual communications can pave the way to exponential growth for every company that strives for it.
The main question here is how to achieve a multilingual approach using the best available tools and services that the translation industry offers. The answer lies in the best combination of services such as website translation, software localization, and technical document translation, for example, with the most experienced language service providers in your own industry.
What is exponential growth and what it means for the business?
According to Investopedia, exponential growth is a pattern of data that shows greater increases with passing time, creating the curve of an exponential function. On a chart, this curve starts slowly, remaining nearly flat for a time before increasing swiftly as to appear almost vertical. The term is quite popular in the sphere of economics to denote stable and powerful growth with minimum capital.
Adding even one more language to their website can change the game for any business. A new product description in the local language of a new target market can allow the company to reach a greater audience and achieve a much higher return of investment (ROI). By growing the number of languages the company speaks, it grows its potential market and attracts more customers, which enables further internal business growth.
Still, it is of paramount importance to plan your translation strategy properly in order to ensure that your multilingual approach will generate sustainable success. So, you need to be aware of the best ways to organize your translation, how to select the best language service provider and how the right language can support your business strategy.
How multilingual communications facilitate success?
Translating your product presentation to even one other language can double your market penetration while adding four different languages can lead to exponential growth with solid returns. This is because many customers prefer purchasing a product or service only if it is described in their own language.
A paper published by Common Sense Advisory, a body engaged in research on global business and commerce, provides a vivid answer to the question why multilinguism matters. According to their research, 55% of the consumers prefer purchasing a product only if they can find details, manuals, descriptions on their mother tongue. This tendency is quite strong in countries such as France, Germany, and Tukey. Another 53% of the respondents to the survey noted that they feel more at ease buying in their own language, meaning that they will choose this option if it is available.
The data above supports the idea of adding one more language as part of your official business communication with customers. It is a good idea to do it as part of your customer-targeted content, that is to add another language to your website along with developing product descriptions, manuals or other technical documentation in a new language.
You can further proceed with hiring foreign language speaking employees and/or opening offices in the target locations. Thus, you will give your target customers the chance to get more detailed information about your company, its values, and products on their own language.
As a result, you will not only attract new customers but also retain their loyalty by offering them a more open and reliable service.
How translation can support exponential growth?
Translation can support multilingual communications in several ways depending on the service you choose. Once you have decided on the language(s) you want to add, you need to think about the best way to do it. The services you choose can facilitate your global expansion and improve your international credibility. The best way is to embark on the process of content localization and include an additional language into your website, product or service descriptions, technical documentation, customer communication channels. The best thing is that localization is not a one-time process, which means that you can start with one service and continue with the rest whenever you feel ready for that.
Once you are ready with the financial parameters of your multilingual start, you can select between some of the translation services such as:
- Website localization, where you decide upon the number of languages to add, the type of translation to choose, such as machine or human translation, whether to make a multisite or separate sites with the relevant extension for each location;
- Technical document translation services that will cover each aspect of your product documentation from internal memos to product specifications and manuals;
- eLearning localization services in case you are planning to train your employees, peers, vendors or customers;
- Patent translation services if you are planning to launch a new product in the target market;
- Legal translation services to make sure that your company and its products are compliant with the local regulations;
Whichever of the services you decide to start with make sure that it is provided by the right vendor. Only an experienced LSP in your industry are will be able to offer you a translation process with added value. Once all of the content you need is properly localized, you will be able to enjoy the benefits of your hard work. The best partner in translation can help you achieve all your goals and enjoy exponential goals by guiding you through the process with their advice, expertise, and experience.
Should you need any help with translation, ICD Translation is the best partner to choose. We are able to assist you with a great variety of services provided in any language you need by expert native-speaking professionals. We have experience in a great variety of industry and our translation managers will do the necessary to assist you with all the questions you may encounter throughout the process.