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The Global Lingo 2021 “Market research language services” report provides an overview of five main areas:
- How COVID-19 has affected the market research industry
- The shift to the digital landscape
- How to compete successfully in the global marketplace
- Market research for international expansion
- How language services support (and enhance) market research
The report provides a wealth of benefits that market researchers and corporations alike stand to gain through professional transcription, translation, simultaneous interpreting ( “simultaneous translation”), and in-language coding services, ensuring accurate and valuable consumer insights.
How COVID-19 has affected the market research industry
While it is true that research has traditionally been the cornerstone of informed business decisions, the onset of COVID-19 almost brought the market research industry to a crashing halt, especially when it came to face-to-face research.
But the industry has proven resilient as well as resourceful. In spite of the challenges the pandemic has presented, the industry is learning to adapt, finding innovative ways to continue helping corporations make informed decisions.
Download the report to read more on the impact of face-to-face research and the shift to online research.
The shift to the digital landscape
Even as social distancing measures, curfews, and travel bans begin to relax in some corners of the world, we continue to see a digital acceleration in consumer behaviors from grocery delivery to virtual medical appointments. That being said, however, study after study also shows that in the United States and the United Kingdom alone, shoppers are mixed in their online/in-store shopping preferences.
As the fear of the pandemic gradually lessens, a certain percentage of consumers will likely return to brick-and-mortar shopping. However, from safety and health concerns to an increased preference toward convenience, online shopping is undoubtedly here for the long haul, and is most definitely accelerating.
As these online consumer trends continue to weave themselves into the new normal across countries, business decision-makers require solid, unbiased, and fact-based evidence to help them determine the best way forward. By partnering with market research firms grounded in digital data collection, companies are able to once again connect and engage with their growing online consumers.
Download the report to read more on market research automation.
How to compete successfully in the global marketplace
Whether we realise it or not, we are all living and competing in a global marketplace. And while this presents new and growing opportunities, globalisation has also created unique challenges for corporations to overcome in order to survive in an increasingly competitive landscape.
The complexities of expanding into new markets cannot be overstated and have manifested in the need to re-examine one’s expansion strategies, implementation processes, and overall business management. However, when corporations (and market researchers) partner with professional language services providers (LSPs), they take the guesswork out of international expansion and marketing. With an intimate knowledge of your target market’s local customs, culture, and language, LSPs experienced in providing linguistic and cultural support for the market research industry can help you better pinpoint and cater to your consumers’ unique needs.
Download the report to read more on understanding your target market.
Market research for international expansion
Although there are a great many similarities among consumers that span the globe, there are likewise, a great many differences. A community’s values, for instance, are largely influenced by their shared history, their politics, international relations, and certainly by their unique traditions and customs. All of these factors are expressed in a people’s language and ultimately affect how consumers in various regions engage with your brand.
It is for this very reason that companies aiming to expand internationally might wish to modify their brand messaging — and might even consider modifying their products and services as well — in order to better connect with their target markets. A thoughtfully designed, well-executed market research strategy coupled with market research language services is sure to reveal vital data direct from your target market.
In other words, when you include language services as part of your market research, you’ll be in a much more informed position to redefine and reshape your messaging, and will be armed with accurate knowledge to know when, where, and how to grow your business. Simply stated, market research fused with linguistic and cultural support strengthens your chances of successful international expansion.
How language services support and enhance market research
As technology continues to advance and consumers continue to gravitate to online purchases, corporations and market researchers will likewise be looking for innovative ways to gain as intimate an understanding of their target market as they can. With each passing year, the internet becomes more and more accessible to an increasing number of consumers worldwide. This has prompted a growing number of companies to develop a global mindset and has compelled a growing number of market researchers to create innovative ways to collect consumer data in multiple regions and in multiple languages.
If not handled with care, however, your market research can miss out on valuable insights or possibly even worse, lead to costly misunderstandings. By partnering with an LSP seasoned in linguistic and cultural support for the market research industry, market researchers will continue to help corporations tap into new and emerging markets and establish a successful international presence.
Download the report to read more on market research translation and localisation, and examples of when the translation has gone wrong.