Alexander Konovalov is the founder and CEO at vidby, a Swiss startup offering AI-powered video translation and dubbing across 70 languages.
The digital landscape is ruled by video content and its supporting platforms. With an astounding 1 million professional creators earning their income on YouTube, the competition is fierce.
However, despite the massive numbers, the past year has revealed a harsh reality for creators. A staggering 42% made $10,000 or less, with approximately 22% earning less than $1,000 within the same time frame. To break through these income barriers, creators must harness the potential of content localization.
Content localization opens the doors to diverse international audiences, transcending language and cultural boundaries. By translating and adapting their content to cater to the unique needs of local communities, creators can forge meaningful connections and unlock new income streams.
The Power Of Content Localization For International Business Growth
In today’s interconnected world, international audiences hunger for captivating and diverse content that transcends borders. While their locations and spoken languages may vary, their thirst for insights from around the globe remains constant.
However, 75% of the world’s population doesn’t speak English. For entrepreneurs looking to expand their follower base and grow international subscriptions, content localization is key. Entering new markets not only diversifies the audience of the business but also unlocks exciting opportunities for brand partnerships and garners support from local sponsors.
For example, world-famous YouTuber MrBeast was able to create content that resonated with viewers around the world by dubbing his videos in 11 languages and understanding the nuances of different cultures. As a result, his videos experienced significant global growth, with 160 million views in the first half of 2022.
Another example is one of our clients, YouFact Tech, which uses the potential of artificial intelligence to localize content. The company localizes its video content in 21 languages, including Arabic, Hindi, Italian, Japanese, Korean, Brazilian Portuguese and Turkish. The result? The company’s audience can now enjoy audio tracks adapted to their native languages, resulting in a staggering 32% increase in audience engagement in just a few months.
The Power Of Licensing And Syndication In A Global Market
Licensing and syndication of localized content offer a strategic advantage in reaching wider audiences and securing exclusive partnerships.
By localizing their videos, entrepreneurs gain a competitive edge in negotiating deals with international distributors, broadcasters and streaming platforms. These partnerships not only boost viewership but also open doors to lucrative royalty and licensing opportunities. With their content syndicated across local and global platforms, entrepreneurs can tap into a vast audience base and establish a passive income stream.
As the business landscape becomes increasingly global, localization remains a paramount strategy for brands aiming to resonate with diverse cultures and markets.
Increasing Revenue Potential: Maximizing Paid Views For Entrepreneurs
Entrepreneurs rely on the geographical location and engagement of their target audience to maximize their revenue potential. On platforms like YouTube, entrepreneurs earn an average of $0.5 to $6 for every 1,000 views, with ad revenue being a significant contributor.
To monetize their creative endeavors effectively, entrepreneurs must build a dedicated and expanding follower base. Content localization plays a crucial role in establishing a genuine connection with viewers and nurturing a loyal audience that actively engages with their content. By tailoring their content to resonate with local markets, entrepreneurs can unlock the full potential of paid views and increase their revenue streams.
Setting The Stage For Global Domination: Unleashing The Power Of Localization
Embarking on a journey to conquer the global market begins with a strategic localization approach. The fact that 72% of global consumers prefer browsing websites in their local language underscores the crucial role of localization. To remain a leader, it is worth considering the habits of the target audience.
Established in 2008, Spotify has emerged as a powerhouse in the music streaming industry, boasting a staggering 433 million monthly active users. Operating in over 180 countries worldwide, Spotify has adopted a distinct market entry approach: image localization. Their aim is to ensure that Spotify seamlessly integrates into any local setting.
With an impressive user base of over 232 million paying subscribers, Netflix has solidified its position as the leading global video streaming service. A key driver of Netflix’s rapid growth and international triumph is its astute localization strategy.
Asos, a British online fashion retailer, has experienced rapid growth by prioritizing localization. With 60% of purchases coming from international customers, Asos has translated its website into seven languages, added 19 currencies and implemented region-specific promotions, ensuring a seamless shopping experience for customers worldwide.
Entrepreneurs can maximize their impact on local markets beyond translations by understanding the unique characteristics of their target audience. In one of my previous columns, I wrote that simplifying communication and deepening cooperation in the global business environment depends heavily on understanding cultural peculiarities and the mentality of people from different countries. Here are some effective strategies for achieving this that are available to everyone.
1. Customize content for regional trends and incorporate region-specific themes, cultural references and trending subjects.
2. Consider including success stories of customers from a specific region can significantly impact the audience. People are more likely to connect with content that showcases the real experiences and achievements of individuals from their own community.
3. Embrace local humor and language. Entrepreneurs should be cautious with humor and wordplay, ensuring they align with the cultural norms and sensitivities of the local market.
Conclusion
Entrepreneurs should seek to forge new connections while championing linguistic diversity. Content localization is a powerful tool that helps entrepreneurs achieve these goals, boosting their income streams and expanding their global reach. They can tap into affiliate earnings, subscription-based and premium content offerings, licensing fees and more.
Localization helps create a genuine connection with viewers and increases brand loyalty and recognition. It aids entrepreneurs in establishing new partnerships and tracking local trends to promote popular products. In today’s interconnected world, content localization is essential for entrepreneurs who aspire to thrive and succeed.
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