How Would Reaching an Extra 50M People Impact Your Business?

If you could reach 50M extra potential customers in the USA simply by adding an extra language to your software and documentation, what would that do for your sales?

16% of the US population, or 50.5 million people, is of Hispanic or Latino origin (2010 United States Census). That means there are 50.5 million potential customers and employees who may prefer communications in Spanish.  This number is projected to grow to well over 100 million by 2050. We are now facing a real opportunity to adapt our businesses to meet these shifting demographics head-on.

Nurture the Relationship

As we know, building relationships is key to a successful business. As technology reigns, geographic borders diminish and fade, the far corners of the world seem closer, and effective communication with key stakeholders becomes fundamental. By assuming that all users will understand English, many of us are missing opportunities to grow in developing markets, both locally and globally.

Spanish is spoken not only in the US but internationally, by people from many different cultures, backgrounds, educational levels, and living standards. Half a billion people worldwide speak Spanish, second only to Chinese for first-language speakers (including Argentina, Colombia, El Salvador, Guatemala, Mexico, Puerto Rico, Uruguay, Venezuela, and Spain).

While the collective United States has not designated a national official language or mandated that multilingual or Hispanic documentation accompany products for consumers or employees, adjusting to the changing cultural and economic trends in the local economy is essential for success and could be the springboard to a short vault into the Latin American market.

Let’s look at a few statistics as we consider the benefits of localizing and growing your businesses to include the Hispanic demographic:

 

For Consumers

  • 72.4% would be more likely to buy a product with information in their own language
  • 56.2% of consumers indicated that they would pay more for the ability to obtain information in their own language.

For Employees

  • 25% of job-site accidents can be attributed to language barriers in the USA
  • fatal injury rates were 69% higher for foreign-born Hispanic workers than for native-born Hispanic workers (who tend to have a better grasp of English)

For Stakeholders

  • 67% of respondents say that miscommunication contributes to inefficiency
  • 42% indicate that poor communication reduces productivity
  • 46% believe that miscommunication reduces collaboration

The U.S. is the largest economy in the world and has seen the biggest growth opportunities within markets that are fenced off by language barriers. To effectively compete in those markets, we need engaged stakeholders, a safe working environment, and the ability to reach the consumer base in their native language. Foreseeing these trends and acting on insights breeds thriving businesses, whether or not legislators have taken this step.

With the advancement of technology, providing products and services with Hispanic language options has never been easier for businesses or customers. Multiple languages could even be included on packaging in the form of a QR code or links to a website hosting video instructions or full versions of manuals in Spanish.

After calculating the benefits, you no doubt agree there is a huge opportunity to reach new markets by expanding language options. Before undertaking the project from within your organization, consider these 6 Advantages to Outsourcing Your Localization.

Here is the good news. Adding Spanish to your software and documentation doesn’t have to cost you a lot of efforts. We help companies of all sizes to get this done right, and surprisingly quickly. Give us a call. We’d love to help you get some more happy customers.

Art One Translations maximizes and leverages the latest tools, standards, and best practices in combination with intelligent effort and skillful execution in bringing together a team of localization experts who speak to customers on a deeper level. With a proven methodology and a three-step quality assurance process, we guarantee accuracy and consistency. Using the latest Computer Assisted Translation (CAT) tools, we create Translation Memories, Glossaries, and term databases that will help get a product to market in weeks and on budget.

 

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