Market localization or better known as marketing localization is defined as the set of strategies devised by localization experts that ensures the marketing collateral of a brand or business such as its –
- Linguistic tone
- Social media content
- Website content and
- Promotional videos are on par with the linguistic, socio-political, emotional and religious preferences of the target market segment.
The goal of marketing localization is simple – it is done to ensure that the overall customer experience for the brand is enhanced. This, in turn, allows a brand to expand nationally or globally in no time.
Other business benefits of market localization are as follows –
Market localization boosts brand identification
With the help of marketing localization service, a brand or a business can be personified. In simple words, the brand or the business will be able to connect easily with its target market segment, avoid alienation and witness an increase in curiosity, queries, leads and conversions. Marketing localization allows a brand or business to inject the cultural intricacies of its local target market segments into its overall image thus allowing its prospective clients to identify the brand or business quickly when they need to make a transaction.
Market localization quickens local business development
When a brand or business takes the help of a localization company, its CTO is taking the tried and tested way of boosting the local business development process.
It is to be noted that filling up a void in a market segment with a product or service that is ‘in demand’ is not enough to make a business successful.
The CTO of a business would need to make sure that their brand or business develops products or services that can not only fulfill the demands of the target market segment. But at the same time, the products or services will enhance the overall experience they offer to the customers by making sure that every angle of the customer’s demands is met.
The aforementioned goals can only be achieved through rigorous market research which is the part and parcel of a typical market localization campaign.
How much does a typical market localization campaign cost in India?
It varies from project to project and on some important factors like the ones mentioned below –
- Campaign Objective – if the objective of the campaign is to help the brand penetrate new states or nations then the cost will be significantly high.
- Projected Annual Sales – if the goal of the campaign is to increase annual sales then the campaign has to be kept live for years. This will add to the costs.
- Competition – if the competition in the sector is cut-throat then creative strategies have to be devised and implemented periodically. This will add to the expenses by many folds.
- Reputation – if the brand is new and is yet to develop a strong reputation then the localization experts would have to work towards that goal. The additional effort will show up as additional expenses.
- Long and Short-Term Goals – if the localization campaign is deployed to help a brand achieve both long as well as short-term goals then the expenses will be huge.
- New Product Introductions – if the localization campaign is targeted toward making new products or services popular among target market segments then experts would need to devise subtle strategies to convince the target market segments. This single step will add to the costs by many folds.
- Geographic Differences – if the brand is taking the help of marketing localization in a bid to expand its clientele throughout a nation or overseas then the project will require a huge team of localization experts and a lot of time. Both will increase the cost of the campaign by many folds.
Does your company need localization services?
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