Global Insight
The Language
Opportunity
Speaking the languages of your customers seems fairly basic, but
many companies struggle with the notion of translating content into
a language they themselves do not speak. In the past, “going global”
represented a massive undertaking – at least, conceptually. The notion
of “international expansion” brought to mind opening up new offices in
countries far away, learning about local tax and employment law, and
dealing with accounting across multiple currencies. In other words,
taking a company global sounded like a daunting proposition.
A Modern Business
Is a Global Business
72.4% of consumers
said they would
be more likely to
buy a product with
information in their
own language
If you are in business today, you are global by default. If you have a
website, people from anywhere in the world can find you. Even if you
only have a neighborhood store, a tourist from another country, or a
person who speaks another language but is a local resident, can walk
in at any time – and that person could be your next loyal customer
or big sale.
The Undeniable Case for Translation
Speaking just one language to customers is not enough. Here are some
key things you need to know about the global language opportunity:
9/10 internet
users always visit
websites in their
own language
when given
a choice
»»
»»
»»
»»
»»
In-language content positively affects likelihood of purchase.
A study of 2,430 web consumers in eight countries found that 72.4%
of consumers said they would be more likely to buy a product with
information in their own language.
Customers are willing to pay more for information in their own
languages. The same study found that more than half of consumers
were willing to pay more to companies that provide information in
their languages.
Internet users nearly always visit websites in their own language. A
European Commission study based on a Gallup survey from 23
countries revealed that nine out of 10 internet users always visit
websites in their languages when given a choice.
Nearly half of shoppers refuse to buy without information in their
languages. The same EU study showed that 42% of consumers never
purchase products or services in other languages.
Even people fluent in other languages prefer to buy in their native
languages. Call it the comfort factor – people prefer not to have
to work too hard to get information that shapes their
purchasing decision.
The Good News? It Doesn’t
Take as Many Languages
as You Might Think
There are up to 7,000 languages on earth. How many does it take for you
to maximize your global economic opportunity online?
Translating into just a few key languages enables you to double the
online spending power available to your business. For example, if you
are in just English today, you can reach $16 trillion in online spending
power. Adding five languages – Japanese, German, Spanish, Simplified
Chinese, and French – gives you access to $17.5 trillion.
Globalization is not a passing trend. Companies are finding that
international revenue can quickly overtake domestic revenue, especially
in online environments.
Language
English
Japanese
German
Spanish
Chinese Simplified
French
Italian
Portuguese
Arabic
Russian
Dutch
Korean
Chinese Traditional
Swedish
Norwegian
Turkish
Polish
Danish
Persian
Finnish
Countries
Online Reach
(Millions)
Online Spending
Power (US$B)
54
1
4
24
2
31
2
5
25
11
5
1
3
2
1
3
2
2
2
1
473
101
79
210
538
73
36
95
106
80
21
40
23
9
5
32
25
5
34
4
16,193
4,744
3,468
3,447
3,214
2,699
1,207
1,114
1,103
1,031
930
925
560
475
452
339
321
280
239
206
Use These Questions to Guide
Your Language Selection
Here are some questions to ask yourself when considering which
languages your company should offer:
»»
»»
»»
»»
»»
»»
»»
»»
»»
»»
»»
Which countries and languages already account for a significant
amount of our online traffic?
What percentage of our revenue comes from international markets,
and how does this compare to our competitors?
What percentage of our customer base is located in other countries?
What are the top countries and languages represented among our
customer base?
Where do we already have locations, branch offices, distributors,
or partners?
In which countries and languages do our competitors
currently operate?
Which countries account for the greatest percentage of market share
in our industry, and which languages are spoken there?
Which other languages are spoken in countries where we already
have a presence – for example, Spanish in the United States or French
in Canada?
Do we have any ties to another country that would give us an early
competitive advantage by entering that market before our
competitors do?
What content are we already translating into other languages, if any?
Which languages are our top priorities?
Technology Makes
It Easier than Ever
to Go Global
Taking your website, web apps, mobile apps, and documents into other
languages and countries is easier than ever before. Using technology,
you can simplify and streamline the process of creating, managing, and
delivering multilingual content to your customers. Technology helps
make the process faster, more efficient, and more cost-effective than
ever before.
Contact Us
To learn more about taking advantage of the language opportunity,
contact us.
+1 866.70.SMART
www.smartling.com