Global content marketing 2018
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A presentation to the Smart Insights 2018 Priorities summit focusing on a strategic approach to content localisation
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Global content marketing 2018
- 1. 1 #DigitalPriorities Digital Marketing Priorities 2018 brought to you by Global Content Marketing Trends 2018 Juliana Pereira VP of Marketing at Smartling
- 2. 2 Global Content Marketing Trends 2018 Facts and Figures to Guide your Global Content Strategy
- 3. 3 What we will cover today • Why is global content important? • The Global Content Marketing Trends in 2018 • Make translation your growth strategy and stay ahead of the competition
- 4. 4 THE GLOBAL CONTENT MARKETING TRENDS IN 2018
- 5. 5 Localization The process of adapting a product or content to a specific locale or market
- 6. 6 Communicating your brand in a way that resonates with local audiences.
- 7. 7 79% of the global audience accessing digital content does NOT speak English.1 36% of online GDP comes from English speakers.2Only 1Common Sense Advisory, “Digital Opportunity: Top 100 Online Languages for 2016” 2Common Sense Advisory, “Digital Opportunity: Top 100 Online Languages for 2016” 3Common Sense Advisory, “Can’t Read, Won’t Buy” 2014 Global Growth Opportunity 75% of buyers agree when deciding between two similar products they are more likely to choose the one in their language.3
- 8. 8 Who’s localizing their content? Leading multinational brands.
- 9. 9 THE GLOBAL CONTENT MARKETING TRENDS IN 2018
- 10. 10 Smartling Research • 300+ top marketing decision makers at enterprise companies across the US + Europe • Goal: Understand the state of global marketing as it relates to content localization Catalyzing Growth and Revenue Opportunities with Content Localization (2017); commissioned by Smartling and completed in partnership with IDG.
- 12. 12 In how many countries does your company currently operate, including its company of origin? Into how many languages is your content currently translated? 7* Average number of markets 7* Average number of languages currently translated * Minimal differences by company size More than 20 14% 6% 14% 12% 14% 18% 10% 12%
- 13. 13 Into how many new countries does your company plan to expand in the next 12 months? Will your content need to be translated into additional languages for your market expansion? 88%* Will need translation services for new markets * Minimal differences by company size 8% 7* The average number of new market expansions in the next 12 months 15% 14% 9% 18% 13% 12% 11% More than 20
- 14. 14 What types of content does your company localize or plan to localize for new markets? 60% 54% 53% 53% 51% 48% 45% 44% 43% 42% 42%
- 15. 15 Challenges to Overcome with Content Localization
- 16. 16 What are the top 3 challenges to your company from content localization? 37% 34% 34% 33% 32% 29% 29% 26%
- 17. 17 Top Benefits of Localization
- 19. 19
- 20. 20 Future Investment in Content Localization
- 21. 21 Over the next 12 months, is your company’s investment in content localization likely to increase? 94%Plan to increase localization expenditures 55% 39% 5% 0% 1%
- 22. 22 98%Plan to localize content for new markets * No differences by company size Does your organization currently or plan to localize content for new markets?
- 23. 23 Summary • Global companies are expanding their global footprint • Slow time to market, manual processes, and difficulty in measuring the impact are biggest localization challenges • Global companies agree on the value of localization
- 24. 24 MAKE TRANSLATION YOUR GROWTH STRATEGY BUT WHERE TO START?
- 25. 25 Quick Guide For Content Localization 1. Prioritize your content to localize. 2. Leverage technology. 3. Look at the data.
- 26. 26 Prioritize Your Content: Minimum Viable Content MVC is NOT all your content! Identify your MVC to: 1. Cut costs 2. Test the waters in a new market
- 27. 27 Prioritize Your Content: Minimum Viable Content
- 28. 28 Prioritize Your Content: Translation Methods
- 29. 29 Standard workflow for customer facing content driving conversions High converting content requiring additional review Lower value content (UGC or user reviews) Content managed by or with an external 3rd party High value, high converting, brand content
- 30. 30 Leverage Technology Common Challenges 30 Slow time to market Quality is uncertain Total cost is too high + +31
- 31. 31 Leverage Technology Smarter Solutions 31 Speed Accelerated time to market through integrations and automation Quality Tools for translators to improve quality and metrics for you to measure it Cost Reduced through automation and leverage of existing translations
- 32. 32 Look At The Data
- 33. 33 Look At The Data https://www.smartling.com/blog/how-translation-turns-traffic-into-profit/
- 34. 34 Summary • Digital revolution has catalyzed global expansion • Research shows that localization is important for globally-minded businesses • Where to start or how to improve? • Prioritize your content • Choose the right technology • Validate your KPIs and look at the data 34
- 35. 35 #DigitalPriorities Digital Marketing Priorities 2018 brought to you by Thank You Juliana Pereira @mjulianapereira
Editor's Notes
- Companies active in multiple geographic markets understand the many benefits localized content can deliver, but not all know how to best leverage this powerful competitive differentiator Collectively, the pool of 301 survey respondents work at organizations already quite active around the globe. To participate in the survey, respondents had to hold director-level or higher positions related to marketing functions, and each company had to have at least 1,000 employees and a multinational footprint.
- On average, the companies we spoke to have footprints in seven different markets, each requiring content to be translated. The average company surveyed had presences in seven different countries and had translated content into seven different languages. A significant number, however, had considerably broader global footprints. Twenty-two percent were active in 11 or more countries, with 12% of that group active in more than 20. Clearly these surveyed companies view their international efforts quite positively, based on survey results.
- One indication of this: On average, the responding companies expect to enter seven new markets in the coming 12 months, effectively doubling their market presences. In the past, such rapid geographic expansion — entering one new country every two months or less — would have been unthinkable for all but the largest and most sophisticated of organizations. And there are several factors helping to catalyze this shift into rapid international expansion. For one, it’s easier for companies to develop a digital presence in new market locales even without a brick and mortar or physical presence, local office, or large employee base in those countries. By leveraging a variety of technologies and tools, companies can build their digital presence in new markets rapidly. At the same time, the spread of mobile devices in developing countries has made cross-border transactions much easier. Improvements in affordable and efficient international shipping allows businesses to ship products more cost-effectively than in the past. (click) Still required, of course, is the need to translate and localize content for prospective and existing customers in each individual market. It’s no surprise that when it comes to addressing their localization needs, nearly nine out of 10 (88%) of the surveyed companies said they would need translation services to support their planned expansions. In other words, these companies have plans to expand to multiple new markets on average, almost all of which will require translation services.
- And a bigger footprint means more opportunities for localization of content types. As a side note, in reviewing the content localization survey results, an interesting trend emerges. Companies that had comparably sized geographic footprints (i.e., a presence in a similar number of markets) had more in common with one another than did companies with a similar number of employees. That is, a small company and a large enterprise, each with a presence in seven countries, tended to share more content localization traits than they did with companies of their own size that were active in, say, only two or three markets. However, across all companies surveyed its interesting to note the variety of content types and formats to be translated. These formats span the gamut of marketing content, but also include training or knowledge base information and HR resources, not to mention app-related content. Of note to call out, it’s likely not surprising to many of us here that Social media and Video are among the top 5 content types identified to be localized, having been selected by over 50% of respondents. I suspect we’ll continue to see a lot of growth in content localization for both social and video in the future.
- So what are some of the top challenges these companies have been experiencing?
- Challenges run the gamut at most organizations, though speed to market is a key challenge for many, which is reflected by responses like “Slow time to market” “Process is too manual” (which typically suggests inefficiencies and wasted time), and “Missed Deadlines”. Localizing a broad range of content especially for multiple existing markets and new markets at a rapid pace is no easy task, and there are several other challenges noted by the respondents. At least one-quarter of the respondents experienced each of the eight challenges listed. There were differences in the perceived challenges based on the number of countries in which the companies operated. Among those in five or more markets, for instance, just 30% cited slow time to market as a challenge, compared to more than 40% of the other respondents. In other words, companies with a larger footprint in more markets tend to see speed to market as less of a challenge. Meanwhile, 38% of those in five or more markets saw proving return on investment as a challenge, while only 16% of the companies in 1 international market cited this as a challenge. This might not be too surprising since companies in multiple markets have to measure and prove ROI across a variety of different markets compared to companies with less complexity in their global content efforts that may only need to prove ROI in one or two markets.
- Conversely, let’s look at the top benefits from content localization.
- What are the top 3 benefits to your company from content localization? Despite the challenges associated with content localization, companies had few doubts that it delivers a variety of important benefits. Foremost among them is increased sales in target markets, a benefit seen by 71% of the respondents. Other important benefits (and the percentages citing them) included: • Increase in lead generation (51%) • Improved user experience of digital interfaces or applications (51%) • Increased user/buyer engagement with content (45%) • Increased user/buyer satisfaction in target markets (34%) • Consistent global brand messaging (18%) This was no surprise at all to us at Smartling as we’ve surveyed our customers internally and found comparable results in the goals of customers and the ultimate benefits they see in localization. In fact our most successful customers have had at least one of these listed here as a primary goal for their business.
- To go hand in hand with the last slide on specific benefits, we also asked respondents to agree or disagree with several statements about content localization. Over 80% of the surveyed folks mostly or completely agreed with the statements that localization is important to their business, as well as the statement that it is essential for entering new markets. Additionally over 70% completely or mostly agreed that they view localization as a revenue driver, which is no surprise since the top benefit on the last slide was that localization increases sales in target markets, which 71% of respondents agreed with. Interesting to note is that around 50% ... Two metrics led the list, as shown in Figure 3: the number of new customers acquired in global markets and the percentage of market share captured. It goes without saying that customer acquisition is directly tied to increased revenue, which one-third cited as one of their key content localization measures.
- Localization expenditures are expected to increase for almost all organizations and “significantly” by about half. There were a few interesting differences in future investment in the responses of companies with different global footprints: More than three-quarters (76%) of the companies already in 5 or more markets said their content localization investments would likely “increase significantly” in the coming year, compared to just 50% of those in only one international market. Across the entire survey base, 55% expected to increase their content localization spending significantly, 39% said it would increase slightly, 5% said it would stay the same, and 1% said it would decrease significantly. Given that more than half planned significant investment bumps, even those making small spending increases could risk falling behind some of their more aggressive competitors. Planned growth aside, investments in this area are already significant. Nearly 40% of the surveyed organizations are spending $500,000 or more annually on content localization, leaving 60% spending significantly less than that amount.
- Localization is an almost universal business need for international companies, for which they spend significant sums.
- A bigger footprint means more opportunities for localization of content services.
- Now these results aren’t meant to scare you into thinking that you need to be in 7 markets and translating into 7 languages tomorrow. However they do validate the importance of having a global strategy if you plan to play and compete on the global stage. That a solid translation strategy is a growth strategy and has tangible benefits for global business. But for those of you who don’t have a $500K localization budget (and even for those who do) I wanted to end by presenting a few takeaways or considerations if you’re convinced that you should get started with localization or expand your current localization efforts.
- Here are three quick ways you can think about content localization: Attendees will come away with a series of actionable next steps for launching their global content as well as best practices for strengthening their localization strategy and improving the reach of their global content.
- In our “frictionless,” digitally driven world, international expansion is proving to be one of the most effective strategies. Smartling’s recently commissioned report with IDG shows that companies active in multiple geographic markets understand the many benefits localized content can deliver, but most still experience numerous challenges as they continue to scale and leverage this powerful competitive differentiator. But in sum, these globally-minded businesses recognize that translation strategy is a growth strategy. Organizations that think competitors aren’t already pushing into new geographic markets may be in for an unpleasant surprise. You don’t need to be a multinational company to get on the localization train and there are ways to test the waters and validate global content expansion for your business. But in doing so, be sure to choose your content to test and technology that can eliminate manual processes and help accelerate your time to market and hit your deadlines. Establish your KPIs and look at your multilingual content data to evaluate the impact on the business. • What brands need to consider to implement a successful translation and localization strategy