(BOSTON) - June 2, 2023 -- In an effort to better address the challenges faced by companies in their global expansion strategies, CSA Research announces the launch of the Global Revenue Forecaster™, an econometric model that equips businesses with actionable data to highlight the significant growth potential associated with expansion to new languages and countries.
Language Strategy's Role in Revenue Maximization
Crafting a language strategy often poses a significant challenge, particularly when it comes to demonstrating the tangible return on investment derived from content translation.
Dr. Arle Lommel, Senior Analyst at CSA Research, emphasizes the consequences of not having concrete data to support multilingual efforts, stating, “Budgets remain at risk, and organizations may miss out on existing revenue opportunities while impeding future growth by cutting investments for short-term savings. In the face of this challenge, content strategists often rely on outdated rules of thumb and anecdotal evidence that fail to satisfy executives seeking reliable evidence.”
CSA Research's latest data analytics tool, the Global Revenue Forecaster, addresses this gap by predicting the ROI of localization initiatives across various languages and regions. With reliable forecasts provided by the Global Revenue Forecaster, companies can make informed decisions about adding, dropping, or retaining languages to enable smarter investments and drive international revenue growth.
This innovative tool empowers users to:
• Identify high-potential markets
• Uncover untapped language opportunity
• Assess the contribution of languages to overall revenue
• Make informed decisions on language selection based on data
• Drive revenue growth and optimize ROI
Complementary Business Analytics Tools and Research
In addition to the Global Revenue Forecaster, CSA Research offers a suite of business analytics tools and research reports designed to assist global enterprises in unlocking their full global market potential:
- Attracting and Retaining Global Customers: The Global Customer Experience Calculator, available for both B2C and B2B sectors, guides businesses in enhancing website localization to convert visitors into loyal customers. Drawing from CSA Research's "Can't Read, Won't Buy" study, this tool leverages the preferences and experiences of over 10,000 consumers and business buyers across 30+ markets.
- Language Investment Analysis: The Economic Atlas of Languages facilitates decision-making by documenting the overall economic opportunities and audience sizes associated with different languages, enabling organizations to devise effective go-to-market strategies backed by data.
- Website Language Support Benchmarking: Gain a competitive advantage by using the Global Website Assessment Index, which reveals the languages offered by competitors in different industries. Research indicates that speaking customers' language increases effectiveness in international sales by 75%.
- Online Economic Potential of Languages: CSA Research's multilingual digital opportunity reports provide comprehensive insights into the value of languages, enabling organizations to formulate data-driven language strategies that maximize revenue.
- Global Readiness Enhancement: The Globalization Maturity Assessment and Localization Maturity Assessment tools helps businesses improve their organization capacity and maturity to capitalize on international and multilingual opportunities.
"The potential revenue and audience unlocked through localization far outweigh the comparatively small investment required," says Dr. Lommel. "Our predictive analytics tools can help you demonstrate the exceptional returns this investment can yield."
CSA Research's suite of predictive analytics tools, including the Global Revenue Forecaster, offers customized predictions that empower companies to make informed decisions and showcase the value of language as a driver for global success. Find out more.