For a business to succeed, they have to know their audience. But what if the audience doesn’t know the business? In the past, standardization has been the market strategy of choice for companies looking to expand their operations. With today’s changing demographics, however, that may no longer be the case as localization takes a more focused approach at marketing. In the case of standardization vs localization, which one comes out on top, and how can the two be balanced?
What is Standardization?
Standardization is the marketing term for a strategy that attempts to make a product or service universally accepted across various countries, regions, or platforms. In most cases, this involves strategies that utilize comparable, or even identical, materials to gain the trust and business of clients regardless of where they are located.
Standardization Benefits Big Businesses
Because this type of marketing strategy relies so heavily on the strong reputation of a business, standardization may be the best approach for large companies that are universally recognized, accepted, and trusted. Consumers know what type of product or service they are receiving regardless of the location they are in or the language they speak. This can create a strong faith in a brand, allowing businesses to rapidly expand and reach new clients even without the need for a localized approach.
What is Localization?
Localization is a strategy that alters the brand or product a company sells in order to tap into a more diverse market. Because language is one of the most important tools when localizing the brand of a business, translation services are a key component to this strategy. Localization also takes into account the culture and beliefs of its intended consumers, appropriately altering pictures, images, colors, and names to better suit clients’ needs.
Localization Strategies Help Small Businesses Succeed
Expanding the audience of a brand leads to a more diverse consumer base and increases sales. In many cases, some of these markets remain relatively open as other businesses continue to rely on fading strategies of standardization to sell products. Because these target demographics recognize and understand the languages or images attached to your product, they are all the more likely to purchase it.
Balancing Standardization and Localization
The most important thing to consider when deciding on a marketing strategy is where you want your company to be down the road. If your goal is a strong presence in your local market for consistent revenue, a standardized approach to marketing that allows you to consistently control your brand’s message may be right for you. If you’re looking to grow your company to achieve its maximum potential, you’ll need to be able to balance multiple localized campaigns. These two strategies don’t have to be completely separate, however, and one can eventually lead to the other.
Although these two marketing strategies may be different, they both share the same goal: attracting clients to your business! The key to successfully combining the two is understanding how they work together to increase your brand’s reach and recognition. A universal approach such as standardization can be a great start, but it must also take into account the differences across various markets and the diversity of consumers in order to form a cohesive market strategy.
Ready to Get Started With KONTEKST?
KONTEKST is ready to help improve your market strategy by offering a wide variety of translation services. For over 20 years, we’ve helped contract research organizations (CROs), pharmaceutical companies, law firms, and consulting companies expand their markets with our experienced team of language experts. We understand the importance of diversity, and can’t wait to help bring your business to new audiences! If you’re interested in learning more about the future of localization, our translation experts are ready to help. Contact us today for all of your translation needs.