How to Increase Market Share with Effective Brand Translation
Brand translation is something that should be taken into serious consideration once you decide to go international.
The international audience is rarely equal in their cultural and regional understanding of different brands and products.
If you truly believe in your products and services, investing in brand translation can not only increase your net market share and value but also bring new customers to the flock. So what is the product of translation when it comes to international brands and how does it affect your company’s value over time?
Building Brand Familiarity
Depending on whom you ask brand translation and/or localization might be good or bad. It comes down to the products you have on offer, your branding, visual elements and company goals more than anything. Self-reflection is essential when it comes to building effective language translation products with brands as centerpieces.
Chinese audiences react differently to certain products than their Western or European counterparts. Building a sense of familiarity and friendliness is one of the very first things that happen once you translate your brand into a new language.
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You should avoid brand translation on a general scope and opt for a detailed look at each of your stakeholders. For example, localizing your brand for “Asia” is more than likely to result in a mockery of your brand in those territories.
Brand name translation, as well as any subsequent marketing content localization, should be done on a case-by-case basis. Put each of your countries on a list and start working your way down from there without excluding anyone or putting two countries in the same basket.
Stock Market Presence
Once you establish a localized brand presence in different regions and countries, their respective investors will start taking interest in you. Not everyone is familiar with your native language (even if it’s English) which means that the localization just opened new doors for both parties.
Brand translation should always be done in a professional and meticulous manner – this will give your brand an added sense of respect and investment safety. The better you look with your newly-localized brand content, the more it will affect your market share in those regions.
Logistical and Retail Expansions
Local investors love seeing logistical expansions from enterprises that come from abroad. This type of expansion allows them the benefit of doubt when it comes to your seriousness in terms of their region and a specific country.
The more you invest in brand and product localization through retail expansion, the more lucrative you will become on the stock market. With so many brands offering only slight benefits and advantages to offshore investors on different continents, this step would effectively prove that you are serious about moving into the region with your products and services.
Increase in Revenue Streams
It can be difficult to find adequate investors willing to go out on a limb for a brand which is only now expanding into new territories. However, the translation product you offer will speak volumes of the quality and intent you have for your newly-acquired revenue streams.
The more you invest into actual logistical expansion besides brand translation, the more your market share will grow in that region. Following that up with more investments and even further expansions will allow you to establish a localization cycle for different countries that might be interested in your brand’s offering.
Building on market shares
It’s easy to see the benefits of quality translation and its effects on a brand as a whole. Keep in mind that the process of building brand localization doesn’t stop once your market shares go up.
You will have to continuously iterate and offer new benefits and services both to your customers and investors. Be that as it may, the bottom line is that effective brand translation can and will open the doors for future company expansions you couldn’t even dream of.