Among all the global business trends, one of the most
popular trends is business localization. Many businesses are taking a step
forward into introducing their business to the global market to make it flourish.
Let’s take a look at what surveys and research have to say
about the growing business localization trend.
Why Localize Your Business?
- 56.2% of customers say that they deem price to be less important than the ability to find information in their native language. (Common Sense Advisory, Can't Read, Won't Buy: Why Language Matters on Global Websites, 2006)
- 74% of multinational companies say that they believe that it is either very important or at least important for a business to acquire an increment in its revenues from its global operations. (California State University at Chico, 2007)
- 65% of multinational companies believe that it is either very important or at least important for a business to localize in order to increase revenue. (California State University at Chico, 2007)
- 71% of executives from North American say that they look forward to seeing increment in revenues from their global operations, foreign sales and expect the imports to increase. (Chubb, 2008, Multinational Risk Survey)
Localization of your Business for the Chinese Market
China has a massive population of 1.35 billion people. Since
2013, China is officially the largest country in the world, population wise and
has the largest share in the global online population.
It is also calculated that almost 1/5th of people on Earth
reportedly have some form of Chinese as their first language. This makes up
around 1 Billion people from all around the world. Published in December 2007, a
report from independent research firm, Common Sense Advisory, “Business
Globalization in 2020”, stated that, “Economists predict that by 2020, China
will have moved up to second place behind the U.S.” in terms of largest
countries by Gross Domestic Product.
95% of online Chinese consumers are comfortable with
websites that are in Chinese. (Forrester Research, Translation and Localization
of Retail Web Sites, 2009) In order to tap this huge market, global enterprises
are taking their translation and localization very seriously. If you are
serious about expanding your business for it to reach the Chinese market then
you will have to design your strategy effectively
as well.
Chinese Localization: A Strategic Approach
Many companies fail when they enter the Chinese market when
they are quite successful in other countries. Business owners need to
understand that entering the Chinese market and achieving success is a tricky
task. Global enterprises need to have effective
localization strategies in order to overcome the unique challenges that the
Chinese culture, language and politics put in the faces of international
companies.
The official language of China is Mandarin Chinese, which is
used by the government and is spoken by around 850 million people in China. There
are two sub kinds of Mandarin: Traditional and Simplified Chinese. People use a
combination of both in their daily lives and this is what makes the
localization and translation process very complicated.
In order to effectively sell a product in the Chinese
market, businesses need to realize that they should find the perfect
combination of Traditional and Simplified Chinese by focusing on the region,
industry specifics, consumer demographic, and the product’s and service’s nature.
This is where Chinese localization experts come to the rescue.
While businesses may not be well versed in these things and while it may take
them a long time to comprehend these details, Chinese
translation services providers know the Chinese culture and its
requirements well. This is why it is always considered a better option for
businesses to avail the services provided by localization experts.
The team of localization experts at Limpid Translations is apt at localizing a brand into Chinese with the best Chinese translation services that you will not find anywhere. From Chinese & Mandarin translations to Chinese voiceovers, they do everything. Visit their website today and check their work to find out what you can expect from them.