The concept of “making industries global” might be something new, but the concept of globalization is nothing new. Maybe that is why companies are eyeing international markets for expansion.
This expansion of businesses to other countries and regions for the sole purpose of gaining international market share is one of the reasons industries opt to take their operations in other countries in the first place. In doing so, one tool that comes into hand is “localization” or the adaptation of services to suit the needs of the target markets and audience.
This localization presents different challenges for different industries, which often have to adapt more than just the language of the target audience. Instead, all the operations, procedures, marketing and advertising practices—and sometimes the management has to be changed as well.
The industries belonging to chemical industry, one of the most advanced and lucrative industries also needs to localize themselves in order to expand their operations abroad, to gain the benefits of international audience and international businesses that come with this localization.
The benefits rendered to the chemical industry for localization are more of the benefits that all types of industries stand to gain if they decide to go global. Let’s have a look at the benefits:
- Advantages of Skilled Labor
Perhaps the biggest benefit of localization for the chemical industry is the availability of skilled labor. This skilled labor, combined with the presence of raw material for chemicals production and processing, unite to give the leverage of labor to companies seeking to build a chemical plant in another country.
It must be noted that skilled labor is a necessary requisite for the chemical companies as qualification of labor is important to execute tasks and duties related to chemical production and sales. You cannot just hire anyone with a “basic” knowledge of chemical compounds. A localization strategy lends the advantage of skilled and knowledgeable workforce for the sale, production, and marketing of chemicals for industrial and domestic use.
- The growth of facilities
When a company belonging to the chemical industry localizes itself in another country or region, it needs to set up a facility of its own in that place. In the case of chemical industry, this facility is the plant for chemical processing and production, but a plant alone cannot function as the office, and so a central office facility would be needed to set up with the plant. This growth of facilities for the purpose of localization lends the benefits of infrastructural development and facility growth in target markets—which ultimately leads to a smooth supply chain network.
- More sales, more market share
Localization increases sales. This is true, irrespective of the industry or the segment doing the localization. The term localization encompasses a wide definition of localizing company’s operations and information—and this information is contained in the content that the company presents on its websites, documents, and reports. Before localization, language has to be translated into the language of the target audience, the terms and words translated in such a way that they are understood by the target audience.
The documents of chemical companies are mostly scientific in nature, involving complex formulas, interpretations and experimental results. While all this may seem like jargon to a person not familiar with the industry, they hold a meaning for chemists and partner chemical companies. Localizing these documents pave a way for “selling” the product to the target market, establishing a connection with them and ultimately leading to these chemical companies sharing in the market share pie of the target countries.
The Last Word—why opt for localization?
Localization is the silver bullet that a company uses for its growth and expansion in other markets. Although the process of localization may seem a cumbersome process for many, if done the right way and with the help of an expert localization agency, it can prove to be extremely beneficial for your company, allowing you to grab the attention of your target market and business partners—and if you are lucky, their loyalty too.A