Who thought having a beefed-up localization program with dozens of supported languages guarantees your company’s growth?
If you have been wondering the same, contemplating which languages and markets to go for next, the (perhaps surprising) answer is, no, it doesn’t … not necessarily.
We analyzed Fortune.com’s list of the 50 fastest-growing companies and were surprised to find only 22 of those have a website and products localized in languages other than English.
Source: Nimdzi Insights
Depending on who you are and how you look at it, you either see a missed/untapped opportunity for these companies to grow internationally or terrific potential for language services providers (LSPs) to go hunting for the next big contract.
However, keep in mind the following:
- Fortune.com’s list is just one list among many similar lists. Depending on your neck of the woods, some lists may carry more weight. There is value in checking out what other successful companies are doing, but it shouldn’t be the sole driver of your decision-making.
- The list is very US-centric: 41 out of the 50 companies we looked at are headquartered in the US. Companies in different parts of the world may very well prioritize different avenues for global growth.
- The 28 companies which have only English website and products have been able to achieve fantastic growth focusing only on the domestic market. You can, of course, counter that by saying the US remains the largest economy in the world. Still, they have been able to achieve success by sticking to familiar territory. It sets them up nicely, in case they want to go global.
- Then again, going global may not be the objective for every company on this list. Some may not have a product to sell to an international audience at all. Your product and services should dictate your globalization strategy.
Language will not be the only driver of your company’s growth. Deciding to go global will likely benefit you in the long run but shouldn’t be done at the expense of mastering your own domestic market. Furthermore, understanding what your product is and to which audiences you can market it is arguably more important than the amount of cash to burn on localization.
Nimdzi Finger Food is the bite-sized insight you need to fuel your decision-making today.
