You're probably pretty familiar with the word Nordic. It stands for a lot of things; design, equality, happiness, education, and sustainability, among a few.
In geographical terms, the Nordic region traditionally includes the Scandinavian countries; Sweden, Norway, and Denmark, plus Iceland, Finland, and The Faroe Islands.
The Nordic region has made its global brand by somehow matching the welfare state with capitalism almost perfectly.
The Nordic philosophies of Hygge, Sisu, Lagom, and Lykke have reached and inspired hundreds of millions, if not billions, as an exemplary way of living the good life.
At the same time, during the last decades, a new region next to the Nordics has started to implement the Nordic model to its heart while showcasing a new level of speed and motivation to innovate and grow together. This region is the Baltics, including Estonia, Lithuania and Latvia.
Suddenly, these ex-Soviet countries, especially with Estonia and its capital Tallinn leading the pack, have started to produce new startups, economic growth, new opportunities, and wealth at a speed that could've been easily thought of to be impossible.
Together the Nordic and the Baltic countries form the New-Nordic region. A new-nordic combines the Nordic mentality of equality and sustainable growth with a new level of innovation, growth, and startup mentality.
This New-Nordic region offers a region for startups across the globe with unseen possibilities to expand and create value.
It also offers startups from the New-Nordic region an unfair advantage to use their native New-Nordic model to expand globally and grow beyond their wildest dreams.
Nordic – What Does It Mean?
After the establishment of Foreningen Norden, the term "Nordic countries" became widely used. The term comes indirectly from the local term Norden, which normally means "The North(ern lands)" in Scandinavian languages. In contrast to "the Nordic countries," the term Norden is singular.
Nordbo is the demonym, which literally means "northern dweller."
The Nordic nations (also recognized as the Nordics or Norden; simply "the North") are geographically and culturally regions in Northern Europe and the North Atlantic. It consists of the sovereign states of Denmark, Finland, Iceland, Norway, and Sweden, some areas of the Faroe Islands and Greenland.
The Nordic regions share a lot in terms of lifestyle, background, religion, and social structure. They have an old history of political unions and other close relationships. Still, they no longer exist as a single entity.
The Scandinavian campaign attempted to unite Denmark, Norway, and Sweden into a single nation in the nineteenth century. With the disintegration of the union among Norway, Sweden, and Finland's independence in the early 20th century, and the 1944 Icelandic referendum vote, this movement evolved into modern organized Nordic cooperation.
The Helsinki Treaty, which established the Nordic Council and the Nordic Council of Ministers, has served as the foundation for this cooperation since 1962.
What is the Nordic Market?
The Nordic market is a phrase invented to describe the distinct combination of free-market capitalism and social benefits that has resulted in a society that enjoys a plethora of high-quality facilities, such as free healthcare and education and generous, guaranteed pension payments for retired people.
These advantages are paid by tax-paying citizens and managed by the government on behalf of all citizens.
Citizens have a firm belief in their government and a track record of cooperating to reach compromises and address societal problems through democracy. Their decision-makers have selected a mixed economy that, while conserving the advantages of capitalism, decreases the wealth gap between rich and poor via redistributive taxation and a robust public sector.
One could say that the model is based on a capitalist economy that promotes creative destruction.
Is the welfare state still there?
Yes. Despite reducing government spending, the welfare state is firmly rooted in Nordic societies.
According to one study, a broad welfare state may not necessarily be compatible with economic prosperity, but it can actually stimulate economic growth. The Nordic nations are a prime example of welfare systems that provide the economy with a highly educated and relatively healthy workforce that integrates into the labour market through well-developed systems. This system helps them in their overall growth.
A higher level of knowledge is a notable factor for the Nordic region's strong ranks in international situations. They support individual development by free access to higher education and by promoting business competitiveness.
Especially researchers and others in the science industry have great potential for advancement in their fields as they can work in not just one but all Nordic countries, although this starts to be more and more common within other industries as well.
Research in the Nordic region retains a high international level in several sectors, such as modern technology and infrastructure, health, environment, and climate, not to mention Arctic circumstances.
What is means to revolve around the optimal capitalist principles?
According to Ann Jones, an American author who lived in Norway for four years, "the Nordic regions give their populations freedom from the market through using capitalism as a tool to support everyone."
Whereas in the United States, "neoliberal politics put the foxes in charge of the henhouse, and capitalists have used the profits made by their businesses (along with financial and political manipulations) to catch the state and pluck the chickens."
With the exception of Norway, which has a huge count of state enterprises and state ownership in publicly traded companies, the Nordic model is based on a mixed-market capitalist economic system with high levels of private ownership.
But is there happiness in it?
Each time the World Happiness Report (WHR) issued its yearly rating of countries from 2013 to date, the five Nordic countries – Finland, Denmark, Norway, Sweden, and Iceland – were all in the top 10 list, with Nordic countries claiming the top three positions in 2017, 2018, and 2019.
Nordic regions appear to be chilly, dismal, snowy places occupied initially by Vikings.
So, what keeps these countries the happiest? The report analyzes countries by utilizing six significant variables that scholars believe are the strongest predictor or indicators of a country's population' happiness:
GDP per capita, which is the typical amount of money earned by each person in the country annually
Healthy life expectancy or the average number of years citizens live
Freedom to make life choices, or people's satisfaction with their capacity to "select what to do with their lives."
Social assistance analyzes people's opinions of having someone they "can count on" when they are "in difficulties."
Freedom from dishonesty, or the opinion of how common corruption is in government and industry, and
Generosity, as defined by the national rate of people who contributed to a charity in the previous month.
This welfare system, known as the Nordic model, has helped lift an estimate of 18.7 per cent of the population out of poverty.
And not to put anyone in a bad light, but In contrast, only 10.9 per cent of the American population receives assistance from the welfare system. These advantages make life easier and less complicated for citizens in Nordic countries. They do not have to worry about paying off an education loan or being fired for having maternity breaks.
What role do trust and openness really play?
The foundation of Nordic cooperation and the Nordic Region as a concept is a mainly shared culture. The Nordic Model is built on values such as openness, popular participation, and proximity to power.
The widely known so-called Nordic brand lends a distinct image to Nordic cultural forms, which is as of now and progressively fascinating to the outside world and is reflected in concepts such as Nordic Noir, Nordic Design, New-Nordic Food, and The Nordic Music Wonder.
Traditionally, the Nordic people have a close relationship with fellow humans and nature and a positive attitude towards the environment.
This cooperation has to do not only with tradition but also with nature itself. There is plenty of open space in the Nordic area. There are vast plains, high mountains, lush forests, and vast oceans. In addition, people can spend a lot of free time there because of the labour force framework that enables both work and leisure.
So let’s welcome the excellent growth mentality based on Baltic Principles
According to Jeanette Carlsson, Founder & Chair of Tech Nordic Advocates, Nordic regions have a healthy mind.
"Any entrepreneur starting a business in the Nordics can ask themselves, 'Can it scale?' New items are instinctively designed to be globally scalable. Because of the small size of our own market economies, we are naturally more outward-looking."
This, combined with especially Estonia’s governments' innovation policies and growth mentality, aims to promote the development of any company from any field. That mentality suggests that the New Nordic business arena with Nordic and Baltic countries in unison will continue to expand.
The Nordic and Baltic nations are no stranger to innovation, having fostered notable, game-changing unicorns, such as giants like Spotify, Skype, Angry Birds and many more.
We are excited to see what possibilities and growth this can deliver.
So it’s true that the New Nordic is the perfect startup ecosystem
The New Nordic is a dominant startup force!
Covid-19 also provided possibilities for a slew of New Nordic startups. Initially, there arose the mentioned Spotify and Supercell. Then there were names like fintech behemoth Klarna, oat milk manufacturer Oatly, and battery developer Northvolt. Such as Oura Health, the wellness ring is worn by Prince Harry and the Silicon Valley elite.
The New Nordic countries generate the most unicorn companies per capita globally, conquered only by Silicon Valley. While the New Nordics make up only 3% of Europe's population, they have generated more than half of the region's billion-dollar exits since 2005.
BEST Helsinki from Aalto University Student Union invited technological learners from all over Europe to get to know the New Nordic Startup Ecosystem. They discussed the state of their regional education to create the blueprint for the universities of the future between the 3rd and 7th of December.
"I've never seen the amount of regional pride and intent to grow startup ties that I sensed among the Nordics."
— Erica Swallow, Huffington Post
The key New Nordic startup centres are Estonia, Stockholm, Helsinki, Copenhagen, and Oslo. Malmö, Lund, Gothenburg, Aarhus, Espoo, and Reykjavik are modest but fast rising centres.
Together we allow sprouting businesses to supercharge growth
The industry is being interrupted. People are going to change the way they work. This change favours entrepreneurship over corporate careers. An increasing number of local New Nordic startups are appearing on the worldwide ranking. It increases the number of foreign investors taking an interest in the brilliant minds of the European and Northern countries.
US investors have been paying close attention to the Nordic startup industry for quite some time. A lot is going on here, and it's finally time to take it seriously and possibly build a foundation here. New Nordic startups have an ambitious spirit, care about the ecology, are willing to change things, and accelerate the innovation stream.
With Silicon Valley investing experience and huge potential in Europe, we can start boldly combining it all and profit from open borders, flexibility, remote working, distributed teams, and further increase the field of interest.
Norders – Your One-Stop Solution for Nordic Marketing
A standard part of startup marketing communication advice is to never argue with yourself and instead focus on your client. According to one recommendation, as long as you guide your customers to solve their problems and help them reach their goals, your interaction is on the right track. There is absolutely nothing wrong with this strategy, and we support it. But, perhaps, true personal stories are sometimes overlooked as a way to connect with consumers and help them in their journey.
For decades, the mystery to effective startup marketing has remained the same: attain the right people at the right time and through a suitable medium. So, how do you find and connect with the right people?
This is where Norders come in!
Norders is all about this New-Nordic model for startups from the region and startups from outside the region looking to impact the New Nordic region.
We're here to help nordic startups to understand and quickly implement this New-Nordic model to match their goals.
Follow our journey and join the Norders to together build a better, more equal, wealthier, and happier planet for all.
We've helped more than 200 Nordic and worldwide brands, ranging from new companies to large businesses, establish profit growth through digital business marketing and development.
We believe in strategy execution that is consistent. Ideas are valid; however, an agile, analytical, and systematic concept is necessary to realize their full potential. We've devised a tried-and-true winning formula.
Our approach appears to be resonating, as we now have the opportunity to collaborate with like-minded firms to develop automated growth marketing for increased profit, sustainability, and positive influence.
Creative digital business development and marketing agency empowering businesses and changemakers to achieve long-term growth and positive impact through marketing actions based on Nordic values and core strengths.
At Norders, we aim to fairly care for the people. Taking care of the environment in a sustainable manner, making the national income as evenly distributed as possible. All of this leads to shared, long-term growth, not just for a few, but for all.
What Do We Offer?
So, what is digital marketing, and what are the various sorts of digital marketing channels?
We're happy you asked. Any form of promotional effort conducted via the internet is digital marketing. This includes everything on our startup marketing services list. From your marketing strategy, brand identity to content and growth management, we've covered you up.
Here's how our whole process work:
Discovering Your Mission
The Discovery stage aims to serve you and our teams fully comprehend what we're doing, when, how, and why we're doing it, as well as to lay the groundwork for upcoming work and growth activities.
Discovery is built through efficient workshops, eye-opening boot camps, and the airtight process of digitally repetitive rounds. It consists of three key components that can be used together or separately.
The determining factors are the channels, content, deliverables, and platforms used to interact with the value proposition, deliver brand value, and serve as the foundation for the startup marketing plan.
What creatives are required is specific to each brand and the objectives that the people behind it are attempting to complete.
We determine what creations are needed during the discovery phase and form and structure. Then, we put them into practice during the creative phase using our organized project management strategy.
Without the right techniques, strategies, brands, channels, and platforms are useless. Our growth marketing services help your business get the message across to the right people at the right time and in the right way.
We regularly implement existing data-driven processes to achieve better results through systematic testing and refinement. Based on your brand's individual goals, we select the proper techniques, which we constantly improve to match the needs of your market with our bespoke team of experts.
The Bottom Line
At the cultural level, possibly the most important component is to create a sense of community, trust, and social harmony in the residents. A fragmented society finds it difficult to provide those types of services that support every nordic startup and citizen's ability to live a happy and fulfilling life. Even people in a divided society are less likely to support certain welfare programs because they fear they will help 'other' groups.
When people take care of each other and trust each other, it forms a much safer foundation for building public support for various public goods and welfare programs.
Thus, institutionally, building a trustworthy and well-functioning government, and culturally, creating a sense of community and solidarity among the residents are important steps towards a happy society. While the Nordic nations have made their way to the model of the new-nordic modern welfare state, each country must make its way.
This is a sophisticated procedure that may appear intimidating at first. But don't worry, support is always available if you need it. Are you ready to find new-nordic growth marketing segments and improve marketing success?
Contact us – Norders' professionals are ready to help!