The modern world comes with different rules about many things. The globe now is more interconnected than ever before, giving billions an opportunity to showcase their talents and innovation to wider audiences. The economy is changing its structure as well and becoming more competitive for businesses small and big.
The thing is that almost every essential we could have dreamed of is now available on the market. New inventions that occasionally make it mainstream are truly innovative and not as easy to come up with. Under such circumstances, one should most certainly think twice before stating that what they have to offer is truly innovative. After all, most likely someone else has already done it before.
The process is accompanied by a fast pace of global digitalization. Every industry and companies within it are trying to adapt to the present-day environment. Customers now require more technologically advanced, streamlined smooth and convenient services on their phones and many sectors are not failing to deliver on this request.
There is no major bank on earth anymore without their very own web or mobile banking platform. Financial institutions of different kinds are working hard to deliver the state of art services, satisfying their customers’ needs. More and more innovative services and products are introduced in the global market and choosing well out of them is not an easy task for customers.
The marketing factor: why promotion is essential
According to the Harvard Study, roughly 30,000 completely new consumer products are introduced each and every year. According to the same research, around 95% of them fail to make significant sales, thus are not present on the market as a mainstream product. Clay Christensen, the researcher behind this study explained:
“The fact that you’re 18 to 35 years old with a college degree does not cause you to buy a product, It may be correlated with the decision, but it doesn’t cause it. We developed this idea because we wanted to understand what causes us to buy a product, not what’s correlated with it. We realized that the causal mechanism behind a purchase is, ‘Oh, I’ve got a job to be done.’ And it turns out that it’s really effective in allowing a company to build products that people want to buy.”
Thus, in the modern world, simply launching a great product is not enough anymore. Even if the product is absolutely perfect and fits all the customer demands, it will likely not be a success story without a well-planned and executed promotional campaign. This is particularly crucial in the era of the internet and innovation, as businesses have gotten much more competitive than before. Marketing has long been a crucial part of the commercial sector, yet, it has not gained further importance, establishing itself as a separate giant industry. Within this article, we will show you the ways to promote products in the Nordics.
The Nordic phenomenon: what is different in the north?
When starting a promotional campaign for a product, considering the specifications of a particular region is of utmost importance. Every nation and a sub-region comes with special demographic factors that should be taken into account.
Now, the Nordic region of Europe is home to some of the most sophisticated consumer markets. Countries like Norway, Finland, and Sweden are highly developed and their populations are of high income. Thus, people of northern Europe tend to prioritize quality over price. Yet, Norwegian and Swedish individuals are also known for their saving behaviors, thus, many businesses promote themselves on the market through free items and cheap offers.
The gambling industry is one of the best examples in this regard. Norway is home to a soaring number of digital casinos, operating in different parts of the nation. Along with the digital transformation of the global economy, the gambling industry has become one of the pioneers in the field. Digital platforms are gradually overtaking physical venues amid their convenience and affordability.
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Lots of the online venues in the Nordics promote themselves by offering casino gratis spinn. Translated into English, gratis spinn stands for free spins, helping gambling businesses attract bigger numbers of customers. Yet, offering free spins might not work in many other parts of the world or even Europe. This is something the people of northern Europe love to see on their feed.
Moreover, demographics are also crucial when selecting the platform for the promotional campaign. Every society is different in terms of their relation to the TV, daily newspapers, and the internet. Without a doubt, the internet is the main platform for marketers these days and the Nordics are not any different from the rest of the world.
In fact, the Scandinavian nations and Finland are some of the most technologically developed. Thus, the absolute majority of their populations are present on the internet – importantly on social networks. Facebook and Instagram are the most popular ones, thus, they should certainly be prioritized.
Moreover, the Nordics are quite modern with the way they live. Sweden has been found to be the least cash-dependent economy in the world and other Nordic nations are not lagging behind either. Thus, when promoting your product on this interesting market, make sure that the payment methods offered are clear and quite cashless!
The rest is dependant on the creative team of your business. In the end, after taking into account these specifications of the Nordics, taking beautiful shots and coming up with catchy mottos is what could make you hit significant sales numbers.