Startups in the Financial and Marketing Spheres
Few phenomenons in recent years have proven to be as disruptive as startups. While something like cryptocurrency has indeed created a noticeable dent in a few industries, startups have shown to be more widespread in terms of upheaval.
So what makes them lightning in a bottle? Startups as a concept have proven to be immensely effective for several reasons, but two of them contribute the most to their growth.
The first one is their purpose. Namely, startups strive to address pain points, i.e., problems in a certain market that many customers or clients would love to see go away. As such, successful startups will always have something relevant to bring to the table.
The second reason is the fact that startups usually ride the wave of the latest technological advances (AI being an entrepreneur darling, in particular). This means that they come up with innovative solutions that can approach the problem from a fresh perspective. That, combined with their design to remove pain points, makes startups especially adept at finding space in the market for themselves.
With all of this in mind, it becomes easy to see why startups gain so much traction. There is hardly an industry around that hasn’t seen at least a few startups popping up in its backyard. From supply chains to fashion and everything else in between that you can think of, startups have been filling in market spaces like water does a potholed road.
And even the realm of marketing has seen its fair share of startup activity. We all know that on-point marketing takes plenty of research and resources, especially for larger, more complex campaigns. The data and coordination need to be immense and spot-on in order to yield the ROI that you’re hoping for, so be sure that you’ll be paying a pretty penny to see real results.
These are far from minor problems everyone is simply happy to tolerate; they’ve been a necessity of the field since basically forever. And entrepreneurs, surely enough, have noticed the plight that marketing companies suffer. That’s why a range of startups exists to address the aforementioned issues.
Most of them deal in streamlining the advertising process, unlocking novel marketing opportunities, dynamic targeting and retargeting, driving conversion rates, and the like faster and cheaper than ever before.
Very much in the style of startups, the term martech has begun getting thrown around recently. As you might expect, the word encapsulates the pairing of technology and marketing to smooth out marketing ills. Something like Debabel, which leverages AI to make translation easier, is but one example among hundreds of such enterprises.
But what about the financial industry? Well, although many of the beats remain the same, the overall story is quite different. However, we have something a little different for you that will accurately convey what startups have been up to in the world of finance.
This marvelous infographic, brought to us by Fortunly, depicts the changes that the financial environment faces due to the startup phenomenon. It covers all the key aspects of the disruption, and it does so with raw numbers and stats. You’ll learn all about fintech solutions, significant disruptions, startup demographics, and much more.