Sunday, December 1, 2013

Conducting a Multilingual Market Research

The world has evolved over the years and with each passing year we have been blessed with tools which are making our lives that little bit easier. When the future was talked about in the 80’s and the 90’s flying cars was often envisaged by the sheer mention of the 2010 and beyond.
Although we do not have our cars floating in the air just yet the world has evolved a lot over the last few years – and all for the better I would say. The world is a lot more educated than it ever has been and the biggest influence of this trend is down to the Internet.
The Internet is the speedway for information and data is always passing through it to all corners of the globe we live in. Tim May has been quoted as saying “National borders aren’t even speed bumps on the information superhighway.” The world is connected by the Internet which has made tools like the fax machine absolutely obsolete. The speed in which people converse with one another is at an instant and with the odd censorship’s administered by various governments the Internet still is the bedrock for people to have their individual voices aired.
The Emergence of the Internet
Businesses have traditionally run by being reliant on a customer base that is within reach in terms of geographical locality. Brick and mortar businesses have always been setting up shop near the presence of customers or where there is a hub of activity, i.e. shopping centres or markets.
When the internet was introduced in the 90’s it was at first only consumed by the education institutions and the large business corporation. However, as hardware prices got lower at the close of the 90’s and the cost of an internet connection being more affordable the consumption of the Internet rapidly increased.
The Internet was further enhanced as a result of the evolution of businesses. When more and more businesses had success on the Internet it led to social networking sites being setup which formed as the catalyst for more people becoming aware of the Internet and having a desire to have an Internet connection simply just to use these online services, for example MySpace.
Now that they were on Facebook and had an internet connection they began to use the Internet for other things as well which included shopping online.
Using the Internet for International Growth
The lure of the internet is too much for anyone to ignore and is generally the ideal way for small businesses or start-up businesses to get a foothold in more countries than just the country they reside in.
However before beginning to trade all over the world the starting point should be to conduct market research. Expensive, I hear you say. Well market research in foreign countries does not actually mean you have to spend millions with an international marketing company who does the research for you.
First of all create a list of 15 keywords which best describe your product so people in your country can find your website in UK. A simple spread sheet will serve well in this instance which you can use to note all the various sections of your marketing strategy.
Once you have the keywords then make a list of all the countries you think your product can be popular in. Now is the time to go into the next step of the research, by using a language translator tool like Google Translate. The tool can be used to translate all the keywords into the language of the first country you are going to look in.
After all the keywords are translated then it is the stage to use the Google Keyword tool. The Google Keyword tool can be used to evaluate, by selecting the specific country and the language which will give a search volume indication as to how many people in that country are typing in terms which are related to your product. Make a note of these numbers and then type them in the respective Google search engines specific to the countries. This will help a user to evaluate the competition and the amount of opportunity there is for a specific product.
Repeat this process for as many countries as possible and you will generally get an idea of which country is best to invest in to market a certain product. Market research can quickly be done but you can further cement your opinions by contacting the locals in those countries but the Internet will always be the most cost effective way to conduct business, especially as the boundaries are squashed as low as they currently are.
Author: Rehan keenly