A Global Brand In The Local Market: How To Adapt Yourself?
Being a successful global brand is an achievement worthy of recognition, especially in the turbulent times faced by most companies in the current world of business. This success will rely heavily upon how well you have performed in the individual local markets which you operate in, and more importantly, how well you have adapted yourself as a company to the different tastes, preferences and demands of various markets. Read on to find out a few ways in which you can become a more adapted and adjusted global player in local markets;
Absorb in the Culture
You may be from a very different background and your company may be used to doing things a certain way. But this should not keep you from making a few changes based on the locality you are now in, especially if it is going to result in positive outcomes for your business. Take in the culture, values and traditions of the country you are in and used them to your advantage by making them a part of your business and in turn, making your business a part of the lives of the local people. This is a strategy that is adopted by many multinational companies such as Coca Cola and McDonald’s for the simple reason that the customers will find it much easier to relate to the brand and its products if they see something in common between themselves and the company.
Make the Local Languages Your Friends
If you are to communicate your brand, products and services effectively to the local customers, you need to speak to them in the language which they understand the best. Your message will be clear and will be received with much more understanding if it is spoken in the native language of the country you are operating in. The certified translation of your marketing material will be necessary to make sure that the exact literal meaning of the message is maintained and is not lost in translation.
Especially when it comes to Arabic translation, it is crucial that it is done through a certified linguist who has previous experience with translating marketing and advertising related material so that the original meaning of the message is maintained and properly communicated.
Adhere to the Local Rules and Regulations
Multinational companies are often faced with a dilemma when it comes to figuring out which corporate laws and regulations they need to follow. This is a much disputed subject as there is a grey area when it comes to figuring out whether a company should adhere to the regulatory guidelines of its home country or the country it is operating in. This largely depends on the laws in question; for some regulations such as corporate tax, quality standards and obtaining licenses, you need to follow the local corporate laws while for other parameters such as labour laws, ethics and corporate governance, you might need to follow the international guidelines. That being said, you will have to give priority to the local rules of operation as your daily business transactions happen in the local market.