How Investing in Translation Can Help Your Business Stay Competitive

The size of the language industry has been overgrowing in recent years, and this trend can expect to continue in the coming years. In 22, the global language services market was valued at $67.2 billion, projected to grow at a CAGR of 6.2% during 2023–2028. This growth is driven by globalization, the rise of e-commerce, and the increasing demand for localization in emerging markets.

One of the key reasons why businesses should invest in translation and localization is that it can help them reach new markets and expand their customer base. By translating their content into multiple languages, businesses can connect with customers in different countries and regions and provide them with a personalized experience. It can lead to increased customer satisfaction, loyalty, and revenue.

Studies have shown that localization can significantly impact a business’s bottom line.

According to research by Common Sense Advisory, 75% of consumers prefer to buy products in their native language, and 60% of consumers rarely or never buy from websites that are not in their language.

Furthermore, businesses that invest in localization have been found to achieve a higher return on investment (ROI) than those that do not.

Another reason why businesses should invest in translation and localization is that it can help them stay competitive in a global marketplace. As more and more businesses expand their operations internationally, those that need to adapt to the needs and preferences of local customers stay caught up. By investing in translation and localization, businesses can demonstrate their commitment to providing a high-quality customer experience and stand out from their competitors.

Finally, investing in translation and localization can also help businesses mitigate risks and comply with local laws and regulations. For example, in many countries, it is a legal requirement to provide content in the local language, and failure to do so can result in fines and legal disputes. By working with a professional language services provider, businesses can ensure that their content is accurate, culturally appropriate, and compliant with local laws and regulations.

In conclusion, the language industry is proliferating, and businesses that invest in translation and localization can reap numerous benefits, including increased revenue, customer satisfaction, and competitiveness. With the help of a professional language services provider, businesses can ensure that their content is accurately and effectively translated and localized to meet the needs and preferences of their target audience.

You can contact us at business@linguidoor.com for more information.