How to make global communication feel local
The diversity of the world is one of our most cherished characteristics, with each corner of the globe able to take pride in what makes it unique. However, while this uniqueness is unquestionably one of humanity’s charms, it presents our modern business sense with certain inherent challenges.
There are undoubtedly difficulties when it comes to international finance companies entering new markets. Global companies must seamlessly convert their brand success from one region to the next while building on the consumer trust they’ve gained from previous market success. Acting ethically, displaying dedication to customer pleasure, being honest in all of your company activities, and ensuring security for your organization and consumers are all essential components of building consumer confidence.
Keeping your current consumer base happy is an important step in growing your customer base, as social media becomes ever present and word of mouth can help cement a company’s reputation. To grow your customer base in an emerging market, international finance companies must improve their customer service. Excellent customer service is what attracts clients to a firm and combining enhanced customer service with a strong social media presence and fresh web content is a winning combination. One successful viral marketing campaign based off of genuinely satisfied customers can save millions in overall marketing costs while bringing in fresh revenue streams that will endure.
For the finance industry, websites and applications must have accurate and elegant language translation, reflecting regional dialects and cultural norms while also understanding the nuance of cultural norms in each location. Local translation services should be able to take website content from California and make it applicable to consumers in Southeast Asia without losing the brand power and meaning of the content while adding touches of poetic license that would tap into a community’s sense of pride or work ethic.
On the issue of compliance, global corporations must be acquainted with the administrative rules in every nation where they conduct business. It may be costly to hire local compliance officers who can have their fingers on the pulse of ever-changing rules and regulations, but it is far costlier to fall victim to penalties that arise when finding yourself outside of the law. Hiring local compliance officers to help with drafting policies and procedures, assist with regulatory compliance of clients with applicable legislation and regulation, and identify and manage regulatory risk is a key way to ensure staying within the bounds of the law.
Paramount to success in global markets is the importance of working with native translators. Clear communication is a common goal of every corporation, and international companies can best achieve this goal through native translation services. The employment of a native translator from the target language nation will considerably improve the communication quality of your organization. Firms that wish to stand out in an increasingly competitive and connected sector must communicate effectively with their target audience. This can take the form of modifying a marketing strategy to fit in with the local culture of the new market. If you aren’t being mindful of the culture of the new market, the local customer base could be dismissive of the product. For example, in the oft-repeated urban legend of the Chevy Nova, Chevrolet struggled to promote the Chevy Nova in Latin America. Since “no va” in Spanish means, “it doesn’t go,” the story says, Latin American auto buyers stayed away from the vehicle. Chevrolet was forced to pull out it from the market. Now, even though this might be an urban legend, the lesson remains that being mindful of how your marketing might translate in another language or another culture could mean the difference between failure and success.
In short, successful companies operating in different regions of the globe must respect the cultures and nuances of each region they desire to expand to. Regard for a country’s language, culture, compliance laws, and a happy customer base all diverge into a recipe for successful business communication. You can count on us to achieve that for you!
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