In the age of globalization, breaking the language barriers can bring tremendous growth opportunities to companies in various industries. Businesses can significantly boost their sales and increase their market shares if they can identify and better serve people from different communities and speaking different languages. Following are industries that can benefit a lot when companies and institutions collaborate with language service providers.
There are studies showing that gaps in homeownership have widened in recent years. People with limited English proficiency have limited access to homeownership, and at many times they are not able to receive adequate language assistance regarding loan application, even when they are qualified for the loans and can afford all the payments.
In a housing transaction, a variety of documents may need to be provided or signed in English, including mortgage applications, financial summaries, loan evaluations, bank statements, tax documents, and other home buying material. People with limited English proficiency need more supports in the real estate market, and agencies should be able to provide material in foreign languages explaining the whole home buying process to those people with limited English proficiency.
The U.S. has the world’s largest travel industry, valuing more than $480 billion in the year 2017. People from all over the world are coming to the U.S. each year, and tourism is an important part of the American economy. However, it’s noteworthy that the tourism industry of the U.S. was actually declining year-over-year, and many tourists are selecting alternative countries to go for their vacation. In this highly competitive global market, tourists nowadays are demanding for better traveling experience, and services provided in their own language would make them feel at home.
Many U.S. traveling agencies have now had tour guides speaking foreign languages to better serve tourists speaking different languages. Moreover, tailored traveling plans are also appreciated by people coming from different countries.
In the past, patients with limited English proficiency are assisted by their friends or family members speaking English in medical appointments. However, the lack of proficiency in English, as well as the lack of medical vocabulary, may all put the patients at risks. Nowadays, having interpreters ready to assist with patients with limited English proficiency is not only about following the medical regulatory standard, but also ensuring patients can thoroughly understand their health condition and make their own decisions about diagnoses, symptoms, and treatment plans.
Moreover, more pharmaceutical manufacturers nowadays are targeting the international market for a much larger customer base. Localization and effective communication would be crucial for the pharmaceutical manufacturers to meet the demand of the local people and provide effective medicines along with accurate and clear instruction.
Although a relatively large proportion of the world population can read English, this doesn’t indicate that an English-only website would please them and make them place an order. A study shows that 59% of online shoppers rarely buy from English-only websites, and 67% prefer navigation and content in their own language. Moreover, whether the measuring units on an e-commerce website are localized matter as well; 92% of online shoppers prefer to shop and make purchases on websites with pricing in their local currency.
Many e-commerce businesses have seen the value of collaborating with language service providers, to localize their website and marketing material to attract people speaking different languages and having different cultural backgrounds. Messages tailored to the local community would make the viewers feel comfortable and deem the website as trustworthy when they shop online.