The Rise of Global Digital Multinationals And Buyer Behavior
If you started your company more than five years ago, you did the usual marketing things. You created a product or service based on what you passionately believed was what your market wanted or needed. And forget digital media – from there, your company turned to costly print ad campaigns in publications, newspapers, magazines and direct mail. Radio and TV were reserved for the deep-pocketed corporate elite. If you could afford print advertising, you then entrusted your brand to a media channel that had no real vested interest in the future success of your company, other than the advertising dollars you could contribute to their bottom line. You trusted that your messaging was being shown to the right demographic. The more a company could spend, the better the placement and ad size. Bigger was better. It was hard to compete.
However, the onset of social media has given consumers a voice they’ve never had before. The world is literally at a buyer’s fingertips. What can you do with a consumer base that exists not only on the local level, but globally? More is more, right? The only thing stopping companies from doing business globally is an internet connection, language and cultural nuance.
“Wow, they totally get me!”
It’s one thing to “talk the talk”, it’s another for your buyers to say with a head nod, “This Company totally gets me!” It’s natural to gravitate towards companies who think and talk like you do. It’s like being in an exclusive club. You wear the club insignia, you know the club handshake, you talk the club lingo, and you have the satisfaction and camaraderie of belonging to something bigger than yourself. It feels really good.
As a result of recent technological advances, marketing has taken on a sophisticated, scientific approach. In addition to predicting a buyer’s muse, it’s about brand “survival of the fittest” and real-time adaptation of your messaging based on locale, language, function, and other specific criteria. Can your brand serve this kind of ultimate bonding and understanding of cultural diversity up to the consumer?
There has never been a better time in history of international business to be a brand marketer. With the advances of “big data” analytics, corporate marketers can even predict buyer behavior.
To give a simplistic view of this concept, we offer the following:
You’ve wanted some pink fuzzy bunny slippers for as long as you can remember. You do a Google search for “pink fuzzy bunny slippers”. After viewing the search results, you’re undecided about purchasing. You leave the search results and go onto Facebook to see what’s happening with friends. When you look to the right, you see an ad for pink fuzzy bunny slippers. Wow, how did they know? Those are the exact pink fuzzy bunny slippers you want! This is why big box online digital retailers like Amazon.com are so wildly successful. They have the crystal ball of big data and the resulting science behind consumer behavior. Try it! Make a few searches for a product and all of a sudden, you start seeing Google ads that mirror the very same thing that you want.
The New Socially Conscious Consumer
Consumers have recently crossed the line of wanting something and buying it impulsively. Buying behavior now reflects that a purchase has to have personal meaning. Brands have to have social impact and give something back. There has to be a reason for buyers to purchase from you. Reasons are personal. ”How will this purchase better my world?” Giving money in exchange for a good or service is no longer good enough by itself.
This is where language and localization come in. It’s not enough to just speak a language, it’s important to understand the cultural diversity and nuances of each buyer.
Social media plays into buyer behavior. This is the piece that “talks the talk”. Be sure your company is paying attention to your brand chatter. Be sure your brand is relevant and be sure you have answers to specific consumer questions and timely feedback at the ready. Gone are the days of consumers writing an anonymous letter “To Whom It May Concern” about an unsatisfactory buying experience. Your unhappy buyer will project their experience onto social media which gives wings to their message. Other unhappy buyers can chime in and influence the buying decisions of others.
Responding timely, in a way the buyer understands and in their native language goes a long way to creating a strong brand community.
Embrace your global opportunities. Engage in the global conversation. Find a language translation service company that can give you an edge in digital media and brand localization providing you with laser targeted global market messaging that drives buyers to your door.
With more than 18 years experience in translation and interpretation, Flor Dimassi, CEO of GlobalSpeak Translations, stays on the pulse of what is happening in in the world. She turns language and cultural diversity into business opportunities for her clients.