Why companies should embrace digital to go global

Fourth Source 08 Apr 2020 05:31

For companies seeking to enter new markets, it pays to understand your customer. This is especially true in today’s digital, globalised world where companies have an unprecedented number of tools at their disposal. Against this backdrop, the proliferation of digital content enables companies to reach local audiences at a scale and speed never seen before.

And yet, a new report by SDL shows that many companies are still missing out on the benefits of a digital-first strategy when expanding internationally, opting to deploy a local sales team before first engaging with the end customer through localised, digital media.

SDL surveyed a cross-section of companies, finding that 80% had global expansion plans over the next two to three years, of which approximately a third were planning to expand into up to three countries, while another 30% planned to expand into up to as many as six countries.

In total, two thirds of companies surveyed prioritised deploying local sales representation first. This is despite many of the respondents placing significant value on content, and seeing the benefits of a digital-first globalisation strategy.

Digital-first strategies are both cost and time-effective. They reduce the execution risk of expanding internationally and can result in accelerated growth in a new market.

This feeds into the three main content strategies cited by modern global enterprises: increase content production; translate that increased content into more languages which is both intelligently and correctly nuanced; and translate more content faster. In fact, some 40% of companies surveyed by SDL expected their content to be translated within 24 hours, with demand for short turnaround times particularly high in the legal, advertising and marketing sectors.

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