Expansion into new markets means a great deal of research and preparation.
Earlier in 2016, Netflix expanded into 130 new countries at a time when subscription had been booming. The streaming service saw double the number of subscribers in Q1 of 2016 than in the same period a year previously, and despite a predicted slowdown in Q2, things were looking good. The expansion, then, would suggest that Netflix know something we don’t, and the company clearly thought the plethora of markets worthy of moving into.
Essentially, content has become a saturated space, and customer acquisition has never been more difficult. Save for the next digital innovation - the life changing product no one knew they needed - advanced economies have seen industry leaders firmly establish themselves across digital content, and all that’s left to fight for is the emerging markets as yet untouched by these services. When moving into a new market, though, it’s important brands practice both some fundamentals and some more niche points to ensure effective entry.
Invest in translation
In terms of fundamentals, investing in proper translation for markets with languages other than your company’s primary language is essential. Content can only be engaging when the language used is interesting, and there are few quicker ways to alienate an entire market than butchering the language in your marketing efforts. Content should be high quality regardless of the location, market, or language, and brands should ensure their translation is high-quality.
When Pepsi expanded into China, they led with the (slightly strange) slogan, ‘Pepsi brings you back to life.’ The biggest mistake came in translation, though, as their ad read ‘Pepsi brings your ancestors back from the grave.’ The error is an infamous case of poor translation, and should serve as a warning to any brand expanding into an unfamiliar market that nuance can be key.
Source: innovation enterprise