Report written by Miguel Sepulveda.
International growth sooner or later becomes an objective for many companies, regardless of the sector they operate in or the product they offer. International growth cannot properly be supported nor sustained without adopting a solid localization strategy, however.
Global growth is a complex, intricate and multidimensional undertaking requiring a vast array of skills and expertise often overlooked when plans to expand to new territories are just starting to take shape. As companies inch closer to carrying out their global expansion plans, it’s quite possible (and indeed highly recommended) that roadmaps include a phase for testing out the markets to see whether there's even a need or desire for the product or service.
But there’s one vitally important component to any expansion strategy that is quite often forgotten:
If localizing pricing isn’t part of a company’s globalization strategy, the company may be missing out on a huge opportunity to scale their business. Indeed it is not enough to simply convert pricing to local currency equivalents.
Unfortunately, we see this happening all the time with companies that offer web-based and mobile app digital products: prices are converted to the local markets automatically, ignoring, for example, that purchasing power and the cost of living in countries such as the United States and India are oceans apart.
SurveyMonkey's Global Experience & Localization unit is a powerhouse of innovation and strategic impact. Led by Julia Cassidy, the team is on a mission to ensure that SurveyMonkey's platform resonates with a diverse international audience. Leveraging country-level user data, they are crafting an inclusive and engaging experience for users worldwide. With plans to expand the team in 2024, they are poised to lead the charge in optimizing SurveyMonkey's global reach and user experience. Their commitment to quality, technology, and data-driven decision-making is propelling SurveyMonkey to new heights of international success.
Explore how Monta's innovative localization strategies are revolutionizing the global market, connecting diverse audiences and paving the way for seamless business expansion. Join us on a journey of technological excellence and forward-thinking solutions.
Pleo is a European fintech company specializing in expense and spend management solutions. It empowers employees to make work-related purchases while ensuring that their companies maintain control over all spending. Using breakthrough technology and commercial cards, Pleo eliminates the need for expense reports, reduces administrative complexity, and simplifies bookkeeping. The company serves clients in 16 locales across Europe and operates in 11 languages, thanks to its localization team.As a European fintech company that specializes in expense and spend management solutions, Pleo empowers employees to purchase the things they need for work while ensuring that their companies maintain full control over all spending. With the help of breakthrough technology and commercial cards, Pleo eliminates expense reports, reduces administrative complexity, and simplifies bookkeeping. With a presence throughout Europe, the company serves clients in 11 languages across 16 locales thanks to its localization team.
Deliveroo is a British online food delivery company founded in 2013. Today, Deliveroo operates a hyperlocal three-sided marketplace, connecting local consumers, restaurants and grocers, and riders to fulfill a mission-critical, emotional purchase in under 30 minutes. By offering fast and reliable delivery which consumers can track online, Deliveroo has grown rapidly. Deliveroo now operates in 10 markets worldwide: the United Kingdom, France, Belgium, Ireland, Italy, Singapore, Hong Kong, the United Arab Emirates, Kuwait, and Qatar, working with thousands of restaurants and grocers, thousands of riders, and serving millions of consumers.