In Gartner’s recent CMO Strategic Priorities Survey, 73% of CMOs reported that they will be relying on existing customers to achieve growth, rather than look to develop new markets.
It seems a turbulent 2020 has created polarity between marketers globally; adopt low-risk yet low-return strategies or be bold by reinventing and rescaling strategies to win new customers in new markets.
Gartner’s findings suggest balancing more conservative strategies with emerging opportunities for new growth. But how do you decide which marketing strategies to prioritize in an unstable economy and with a limited budget?
Personalize. Connect with new and existing customers in their language.
In today’s world of capacity and capital constraints, localization crosses the canyon for better-than-expected ROI and building capability to enter new markets.
CMOs know localization is important. More than 50% of all queries on Google are in a language other than English and 40% of internet users will never buy from websites not in their native language.
In addition, combatting issues in diversity, equality and inclusion (DEI) continues to be of vital importance for businesses globally. In fact, “95% of CMOs believe that brands should take the lead in finding solutions to societal and cultural issues”, says Jay Wilson, VP Analyst at Gartner.
Translating your content into Spanish, connecting with approximately 41.2 million people in the United States, can both…