Three Keys to Successfully Expanding your Business Overseas
November 11, 2014
According to a survey conducted by consulting firm OC&C Strategy Consultants, retailer income in the U.K. originating from outside the country via Internet is forecast to reach 28 billion pounds by the year 2020. This means that overseas sales will grow at a pace some four times that of domestic sales.
To take advantage of this trend, companies need a localization strategy that will be well accepted by customers overseas. Here, we will take a closer look at the important points to consider when expanding overseas.
Translation of the Language Used for the Website
According to a study by research firm Common Sense Advisory, 72% of people surveyed said they would purchase products with information in their own language over a foreign language. The percentage of people who felt language was more important than price was 56%. In this manner, language plays an important role when we purchase a product or use a service.
Additionally, there are times when words from the same language can have a different meaning depending on the country. For example, the word "jam" used in Japan is derived from the British English "jam," while in the United States people usually say "jelly."
First, there is the method consisting in localizing your website into the local language in phases based on your budget. For example, if you have a small budget, first just translate the top page only, and then translate the remaining pages once your business begins to turn a profit, or you can translate the top page into other languages.
The key to success is a translation localized appropriately and specially suited to the unique expressions used in that particular country.
Obtain a Domain Name in the Target Country to Expand Business Opportunities
Even if you launch a multilingual website, it won't have any meaning unless overseas consumers know about it. To ensure a large number of consumers find your website, one way is to obtain a domain name in the target country. In this case, there is a greater possibility that more hits will be generated from the search engines used most in that particular country.
After-sales Services After a Website is Launched
Once you begin receiving orders from the target country, you will need to keep in mind after-sales services for customers, such as a merchandise shipping system or returns for that particular country, as well as consideration of tax matters regarding transactions in the country. Website translation is only the first step in successfully expanding a business globally.
Summary
The language used on your website will have a major influence over whether your business will be a success overseas. However, the important thing is not only how to launch a website, but also the after-sales services you will provide to customers. We recommend reviewing your business plan from various angles to lead to success.
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