Did you know that 94% of multinational companies plan to increase their localization spending in 2018?
This is just one of several major localization trends to look out for in the new year. If you think your competition won’t be building out their localization strategy in 2018, you may be in for an unpleasant surprise.
We partnered with IDG Research to ask 300+ top marketing decision-makers across the United States, the United Kingdom, Germany, and France about the scope and momentum of their content localization efforts now and in the next 12 months.
As it turns out, continued global expansion and increased investment in localization is a top priority for these marketing executives.
Here are key findings from our primary research:
- On average, the companies we spoke to have international footprints in 7 different markets, and translate their content into 7 different languages. Growing companies are seeking customers on a global scale. To do so successfully, they are translating their content into the native languages of their international markets.
- In the next 12 months, these companies plan to expand into 7 new markets on average. Ambitious companies are planning to double the size of their international market base, of which 88% require translation services for their new markets. Not a small feat, by any means.
- The top benefit of content localization: Increased sales in target markets. Companies see clear ROI from their content localization, directly improving their bottom line.
- Over half of companies find the content localization process to be too manual and needs to be more automated. Emailing spreadsheets back and forth with translators gets complex to manage, especially when scaling up international operations.
- The top challenge of content localization: Slow time to market. Recognizing ROI from international markets becomes a challenge when your source content just isn’t getting translated in a timely manner.
- 94% of companies plan to increase their localization expenditures. They’ve created a line item in their 2018 budgets for localization – have you?
- A bigger footprint means more opportunities for localization of content services. The top 5 types of content companies are localizing are their website, social media, digital, video, and technical information. The most successful localization efforts cover crucial steps of the buyer’s journey.
As global companies expand their international footprints, there seems to be broad consensus on the immense value of localization to achieving their global market share.
Companies will want to keep up with their peers and polish up their localization strategies to ensure successful growth in the new year.