Technology is not the only key to exponential eCommerce growth
In the old economy, companies grew incrementally:
10% per year, 20% per year…
In the new economy, companies can grow exponentially:
10 times, 20 times … or more.
Two things are making this exponential eCommerce growth possible:
- Technologies (for scaling everything from communication to fulfillment, or processing and delivering as we used to call it)
Wait, what? Everyone knows how technology enables exponential eCommerce growth, but translation?
When a company can only grow as large as its domestic market will allow, it hits a wall sooner or later. It doesn’t matter how good the technology is: the size of the domestic market is finite compared to what’s out there to be captured in global markets.
What does it take to conquer these international markets?
Study after study tells us that sales – both first time sales and repeat sales – increase when you address potential customers in their language. According to the Common Sense Advisory, customers are six times more likely to buy when they can find content in their language. Language helps companies grow exponentially in the new digital economy.
But, you may point out, human translation is not particularly scalable: it’s labor-intensive and costly (though not as costly as it should be when you consider the expertise involved in crafting a good translation). To this we would answer that only when human translation is leveraged by technology can we start to experience the exponential future.
Digital Opportunities in eCommerce, eSupport, eMarketing, eIntelligence, eCommunities and eLearning
Imagine the impact possible when a single message of yours can cross borders to reach tens of millions of people. Yet many companies ignore these opportunities for exponential growth because they think that the language question is too complicated or too expensive – or both.
This may have been true once, but it’s not true today. At the same time as technology has opened up these opportunities, it has given us new ways to:
• Integrate translation into eCommerce sites, into eLearning programs, into apps and even into the very products that will be connected in the Internet of Things,
• Empower eMarketing to develop higher performing websites,
• Take down the borders between eCommunities,
• Provide eSupport to international customers, and
• Enable eIntelligence to parse big data to understand customer sentiment.
This is what happens when you add language to technology.