Article | December 22, 2020
Most influential organizations need international market research as it helps formulate growth strategies and decision-making processes. Market research translation allows businesses to understand clients’ expectations, conduct competitive analysis, make educated business decisions, and much more.
Surveying multilingual consumers is challenging in multiple ways, requires language expertise, and has zero room for errors. A single mistake, miscommunication, or misunderstandings can adversely impact a company’s progress in local and international markets. Many organizations hire business translation services firms for their expertise in the sector.
Here are some do’s and don’ts of translating market research to understand the complexity of the task.
1. Native Speakers
When translating surveys, questions, and instructions, working with native speakers allows questionnaires to sound more natural and helps respondents feel comfortable when answering. Additionally, having native translators who have or are living in your target research area will help them understand the respondents better. Your translators will understand the local language and colloquialisms as well as make the questionnaire easily accessible.
2. Background Information
Your market research translation services firm should have all the necessary background information to understand your research scope and objective, along with ensuring its accuracy. Your translators should know what kind of information you need from respondents to ask the correct questions in the target language. In addition, the linguists who translate the answers would also require a complete discussion to comprehend the precise meaning of the statements made.
3. Avoid Leading Questions
Ensure that your survey has minimal leading questions, if any. Such questions decrease the accuracy of your research by guiding respondents toward specific answers. Typically, leading questions might confuse your respondents. They might answer in a different way than they would in normal circumstances. This may alter your research results and give you an erroneous image of the local market, which can impact your company’s positioning adversely in the long term.
4. Review of Target Participants
Depending on your survey region, you may need to adapt your research methods to include real-time conversations, phone interviews, besides online questionnaires. You may need to create new classes of participants for your study due to population structure variations. If required, you can reorganize your target audience categories, their number, and how you contact them.
5. Test Study Methods
Your business translation services team should test the questionnaire on a sample before you go live to ensure that all your respondents understand the instructions and questions. This also helps you avoid vague messages and poorly translated, indistinct questions. Invest some extra billing hours in testing to ensure the accuracy of your research.
1. Not Going Beyond Word-to-Word Translation
Market research documentation involves surveys, questions, videos, interactive content, and more. Along with terminology and grammatical rules, translators require details, like the respondents' voice pitch, body language, and idiomatic expressions for successful translations for the project.
2. Overlook Cultural Aspects
Researchers cannot ask the required questions or conduct a qualitative analysis of the answers without cultural insight. They simplify communication between the respondents and the translator and enable you to represent the local market accurately. Integrating cultural nuances into the research helps you create an emotional connection with the respondents and results in more accurate answers for your analysis.
3. Ignore Data Security
Adhering to data security protocols builds trust among your local audience and reduces the risk of problems with local authorities. If your questionnaires have sensitive data, avoid any data security breaches. This builds trust among your local audience and reduces the risk of issues with the law. If you take assistance from a language service provider, they should ensure that your research results and the respondents’ data are protected. Usually, your translation agency will have strong data security measures to keep your files safe and secure.
4. Forgetting to Proofread
Translating market research involves concepts that cannot always be compared in all languages, brand perceptions that differ with the region, varying local social norms for communication, and several other aspects that influence the translation and localization process. Get survey results checked and proofread by the research team before sharing them with your management and stakeholders. This ensures that analysts use accurate data to make their predictions and removes any mistakes from the document.
5. Have Fixed Deadlines
Your market research results will determine your product launches, fresh marketing strategies, and development. Proper documentation for multilingual market research needs time and patience, as rushing through the entire process can be counterproductive. Rushed translations and skipping critical phases of research might result in the omission of essential data and altering the analysis results. This could lead to a false assurance that pushes you in the incorrect course.
Multilingual market research requires translating both the instructions and surveys that enable you to investigate local markets and local respondents' data.
Article | December 22, 2020
Often people believe that brands do not matter as much in a B2B environment as in a consumer one. In fact, the opposite is often true. In a consumer environment, the buyer is using his or her own money, so it is a major factor in the buying decision. In a B2B environment, the buyer is using the company’s money, and the key driver may be career advancement or even job protection. This means that avoiding making a mistake may be more important than making the best decision. As the old saying went, “no one ever got fired for choosing IBM.” So there are many B2B brands which have achieved and retained a status which justifies a price premium. Strong ingredient brands are among these. So Nutrasweet became a brand which justified a premium, as did Intel. However, these brands cannot simply be exploited without being nurtured. Just as with consumer brands, these brands can die or be superseded. Splenda came along and took much of the same space as Nutrasweet. The fact that it is both an ingredient and stand-alone brand gave it a stronger presence in the mind of the end-user.
In B2B giving a product a name is easy, but that does not necessarily mean a brand in the customer’s mind. The key factor is whether, when we use the B2B grid, the use of the brand is compatible and enhancing to customer perception.
All too often, in B2B, companies sabotage themselves. They focus on price, and in fact draw attention to it. Perhaps, if their costs are lowest, this may give the company leadership for a while. However, they end up placing themselves in the worst quadrant – the commodity segment, such as wheat or iron ore. Second worst is “service goods,” where price is the most likely distinguishing feature, but where the goods are so unimportant that the buyer may ignore price. Such examples are paper clips and cleaning supplies. Following this is the strategic goods quadrant, where price is secondary, even if high. High grade steels in the manufacture of jet aircraft are examples of this. The most envied position is to be a specialty product. An example may be a high priced additive or processing aid. Price is relatively irrelevant if it ensure top quality. When Richard Guha of Take Control Of was CMO of the enterprise software business at Remedy/BMC, he spent much time positioning the product in this way through its brand. The brand was positioned to be the only safe choice to make, but the name was not changed as change was unneeded. It was also priced so that customers could buy on an a la carte basis for modest increments or on a prix fixe basis for a complete turnkey product. In the energy business also, while more difficult, this is still the objective. When energy deregulation started, Houston Industries, the third largest combination utility was faced with the fact that it provided services well beyond Houston, and that, although its name implied it, it manufactured nothing. Thus it rebranded itself as Reliant Energy very successfully. This brand was used in consumer and B2B markets equally.
The challenge which use of branding faces is to add perceived value to the product. Instead of merely “steel” a company such as Mittal Steel has to be perceived as providing some added value to the buyer. In each market, this may be different. The most extreme situations are when a product or service is “clearly” a commodity. One of the most obvious commodities is rigid metal packaging, aka, cans! Yet,
can manufacturers have succeeded in differentiating themselves on the basis of service, technological innovation, and end-user sensitivity. Often, adding service to product can add perceived value.
In B2B companies it should be far easier to measure and control the value of a brand. Usually, there is a direct connection to the customer. CRM systems, if well managed (another story), can identify them, and allow the company to understand the meaning of the brand, and the difference it makes to the price realized vs. an unbranded alternative. The sum of these differences is the effective Brand Value. Knowing all the levers to pull makes is possible to enhance it in far more direct ways than for a consumer brand.
In short, we have seen that in B2B markets, a brand can go even further in adding value to a product or service than in a consumer market.
Max Brand Equity works with corporations, turnaround managers, and private equity firms to understand and maximize the value of their brands – often the most valuable part of a business.
Article | December 22, 2020
Content in the travel industry continues to evolve as customer behaviour changes and brands attempt to adapt. Consumers are demanding new and exciting forms of content, shared with them across multiple channels. Not to mention they want this content to be tailored specifically to them.
These shifts in behaviour, coupled with renewed optimism about the industry have given rise to a host of new trends in the travel and tourism sector. Roughly 74% of travel consumers are eagerly anticipating frequent travel again, and for brands hoping to stand out from the competition and get their content in front of eager travellers, these are the trends they need to know.
Article | December 22, 2020
Well, we humans won’t satisfy with a single thing, and we seek the best in almost everything. In earlier, we were confused to go with the product without knowing its features because of lacking a perfect platform to exhibit the product.
But nowadays, with the rapid growth of technology, we became more familiar with the features of the product and are more comfortable to know about the product using various advertising platforms.
Just imagine how technology swept out all the traditional marketing trends and transformed into digital marketing trends for making consumers more reliable and comfortable with the product.
In this article, we are going to see what is the future of digital marketing in 2020 and how technology will change marketing techniques like content marketing, branding trends, and technological advancements in 2020.