It is always interesting to look at sub-markets and understand where you company’s revenue is relative to overall market. One of those regional areas that is often examined is the Nordic / Scandanavian region comprising Denmark, Finland, Norway & Sweden. Many organizations treat that region as one with reporting into one sales or management structure.
If your revenue from that region exceeds 3% of your total business, then you are running ahead of the overall market.
We looked at the data from the Global 5000 database. There are 135 companies from these countries representing 2.7% of the total. Next, looking at revenue, the revenue for companies located in this region represents just under $900 billion – or about 1.9% of the total of all Global 5000 companies.
But, growth has slowed. The average annual growth over the past 3 years (in USD) has been a negative . . . a negative 7% of the period.
So, when you are looking at your revenue plans, sales targets and quotas – look at where this region is compared to your total numbers and adjust accordingly.