Localization Strategies: Increase Global Revenue with Local Thinking Share: PayPro Global Date Published 21 December 2021 Categories Blog, Guide Reading Time 4-Minute Read Growing businesses are often encouraged to think big, think national, and, ultimately, think global. Here’s how you can create your expansion strategy. Growing businesses are often encouraged to think big, think national, and, ultimately, think global. But to increase your reach and revenue in international markets, you need an international expansion strategy that must also include localization strategies. Yes, we can hear you asking: Why think local when I’m trying to go global? The answer is simple: to be successful, you need to create a frictionless experience for every shopper who interacts with your brand and product throughout the customer journey, wherever in the world they may be. That’s why we put together this comprehensive guide on localization strategies which covers everything you need to know to grow globally. If you have more questions, you know where to find us, and we are always here for you! Brush Up on the Terminology Before we go into the nitty-gritty of localization, let’s first take a look at the terms you’ll be seeing in this article: What is Localization? Localization is the process of adapting your product, information, content, or marketing campaigns to suit the needs, preferences, interests, and context of customers in a specific country, region, or foreign market. The most critical localization factors to consider are language, culture, religion, politics, and regulations. What are Localization Services? Localization services are the tools used to modify a product to adapt to the needs and preferences of users in different regions. Businesses looking to expand beyond their own regions should use these services to build trust and confidence in new markets. Some good examples of localization services include: Translating a product into a local language. Changing units of measurement to suit the intended new market. Checking whether font and character sizes work in other alphabets. Re-working visual elements in games to make them resonate with the cultures you’re targeting. Marketing Strategies Localization Marketing Like search engines or video marketing, the localization process is a subsection of the bigger marketing strategy, which is promoting and selling your products or services. It requires purposeful planning and a commitment to scale your business’ marketing efforts by paying close attention to local factors, customs, and needs. Global Marketing Global marketing, quite predictably, refers to the marketing strategy, practices, and activities that lead to identifying and successfully attracting customers on a worldwide scale. A global marketing plan should include specific strategies for selling your product in different countries and regions and an overarching set of goals to achieve sustainable growth on an international level. Therefore, your localization process and strategies form part of your bigger global marketing plan. A global marketing plan should include your: Value proposition Target audiences Business models Success factors Marketing mix Resources It’s essential that your plan includes the “local factor.” What cultural, economic, religious, and political factors will affect your brand identity and success in the markets you’re targeting? It’s critical information you should be considering and monitoring regularly. What is Global Marketing Localization? Global marketing localization means taking your international marketing plan and localizing each element based on your different regional target markets. In short, you are making it familiar and relevant to each segment of the population you plan to market. For example, components of your overall marketing plan should include: Your website Social media campaigns Press releases Global marketing localization requires an in-depth understanding of customers in many different contexts, such as: Economy Social trends Values Technology Legal compliance regulations Read on to learn 10 simple steps for getting started with localization on PayPro Global’s Blog.