Market entry and localization - Did someone say trust?
Listening to presentations the other week that included a Dutch start-up aiding Dutch companies in their expansion to Germany, a few thoughts shot through my head. With all the bureaucracy and local regulations, why aren’t there more companies specializing in these services? At least I haven’t heard of too many. Additionally, I was wondering what entailed market entry specifically. The presenter from Fingerspitzengefuehl advised, that in order to expand to a new market, have a really solid base in your home market first, because really what you’re gonna do is start all over, and that requires a lot of effort.
Market entry can look very differently from company to company. A purely digital enterprise has it easier than one that requires lots of physical capital or logistics, but it gets complicated when financial services are involved, or the target market is so different from the home market that deeper structural changes are required. Market entry can take anything from a few months to two or more years in some cases. Legal requirements, fiscal preparations, registrations, human resources, and last but not least linguistic and cultural adaptations are hurdles to overcome. With all these challenges, sometimes localization takes a backseat in the face of seemingly bigger troubles. Neglecting it however will endanger the company’s own core business, and that’s what it wants to export.
How can localization fail? Especially when target markets are seemingly similar (and market entry strategy might take a back seat in some departments), the effort and love for detail that needs to go into localization is usually underestimated. Machine translations, one-time contracts, or even self-translation are common. The effect of that is what is all too familiar: the translations are okay upon first glance, but turn out to have fatal flaws. I recently blogged on one such mistake, worse ones can happen - and what about colors, customs, the tone of your texts, changes in consumer culture and behavior? If there is one thing that a company wanting to expand needs, it is trust. If you run a company, you want to be able to trust, that whoever executes your localization, delivers a result that is unquestionably correct. You need to be able to rely in that work, because if you were able to self-verify it, you probably wouldn’t need that service in the first place. You might be able to judge an English translation if you’re an educated person, but complicated and technical texts as well? How about a Swahili translation?
lingohub will offer you one thing more than anything else: trust. The other things are: being able to sleep at night not having to worry, efficient on-demand localization - and a great way to find work if you are a translator. Translations on lingohub are always reviewed by an additional expert translator, so you can trust the delivered work 100%. When you’re expanding to a new market, or several at once, you also don’t want to ship different quality localization to different countries. We want to help you roll out your product just like you would in your home market - with consistent high quality. We’re looking forward to removing the back seat from your market expansion, together with you. Be Global, Go Local!