It’s no secret that the door is wide open for business opportunities in the Asia Pacific (APAC) region, but are brands really maximising the market potential or is there an untapped segment that has been over looked?
Source: The World Bank, “Developing East Asia Pacific Growth Remains Robust in 2015, April 2015
Businesses who know to target a broader market region are already reaping the benefits of localised content. But entering a new market within the Asia Pacific region presents many challenges.
APAC is a diverse region consisting of 48 countries. Data from The World Language Mapping System indicates there are more than 3,200 languages in the Asia Pacific region in 28 major linguistic families.
Cultural understanding and language fluency cannot be learned overnight, which often presents many obstacles that most organisations are not equipped to take on. Nor would it make sense to shift focus to such a specialised area. As a result few companies take the time to provide a targeted approach, leaving potential business opportunities to competitors.
In an environment where consumers increasingly demand a more personalised and tailored products and services it is important to get the messaging right to achieve cut through and deeply engage the target audience.
Where to start?
With such a large region to cover it is difficult to know where to start and this will vary between organisations depending on product, service offering and industry being targeted.
China, South Korea, Malaysia, Thailand, Philippines and India all rank highly on the Bloomberg emerging market report, based on 19 measures of the investing climate, from forecasts of gross domestic product growth for the next two years to the ease of doing business.
But there are also some trickier markets which we see as holding some great potential and shouldn’t be over looked; Indonesia, Japan & Taiwan.
How HSBC achieved market growth success with localisation
The HSBC campaign provides a good example of how one company has managed to tackle a recurrent problem in B2B marketing, the lack of local information, and in doing so it has achieved great success.
HSBC demonstrate how a dedicated, targeted and consistent approach will gain market traction and produce quality leads.
So why aren’t more people localising content?
So why aren’t more companies meeting the customer where they need to be met and providing the cultural understanding and insight to communicate efficiently and affectively?
Well we don’t all have the big budgets of a corporate bank like HSBC, but there are smarter ways we can look at approaching this opportunity, but first let’s look at the challenges in more detail…
A recent survey by MarketingProfs provides valuable insight into the top challenges companies are experiencing when attempting to localise their marketing content and sales approach.
The challenges of Localisation
- 30% of survey respondents whose companies market globally say the biggest challenges to localization are high costs and slow turnaround times.
- 20% of participants cited the complexities of keeping branding and messaging consistent globally.
- 19% have experienced difficulties in managing multiple translation vendors and projects.
One important consideration when approaching market expansion in this region is the many idiosyncrasies that set them apart and make them unique and in turn require an individual approach.
A partnership with a specialised expert in region eliminates these challenges so organisations can remain focused on their core business and closing sales.
By partnering with SalesPond you have access to:
- AA-ISP accredited expert partner in region
- The one contact point for all your APAC campaigns
- A team of fully trained and qualified sales professionals who speak the local languages (phone & email content translation)
- Access to world class technology and processes
- All your data in one place
- Guaranteed BANT qualified leads
Are localised content and multilingual sales and marketing part of your growth plan? Start a discussion on some of the challenges you are seeing…