With the beginning and the end of each year, entrepreneurs have to sit down and take a good look at which trends have evolved and shaped the world, and try to predict what the future is going to look like.
When we take a look at the world today, we can see that technology is advancing really fast and there is no stopping to it.
Along with it, industries change, and so do companies and their business plans, marketing strategies, and approaches.
Emerging startup trends
It’s not only that a huge amount of amazing software and hardware has become available and affordable, and in the result, changed how we communicate amongst ourselves, access the information we need, and improved some of the world’s largest and most important aspects such as health, finance, and so on.
There is also the fact that it has become essential for startups to embrace the latest trends in order to stand out amongst the competition. So, from tech, through funding, and down to marketing, what are the emerging trends that are going to shape the entire startup scene in the years that are to follow?
Internet of Things
One technological aspect that is bound to change the world forever (and has already started to do so) is the Internet of Things. The IoT is, basically, a universal network that consists of automation, mobility, and data. What we can expect is a huge system that connects both computational devices, like smartphones, and non-traditional devices, like cars, washing machines, and so on.
The truth is that IoT enables and is going to make feasible countless opportunities that we can only begin to imagine today. However, along with those opportunities will come a set of challenges that businesses and users are going to face.
Looking at digital infrastructure, we can see how much it depends on security, data management, and how devices communicate with each other. The amazing possibilities that IoT brings to the table are going to make it easier for many industries out there to come up with better, and more inventive products which are going to be a lot easier and safer to make use of.
Reliance on crowdfunding
Bringing your business idea to life with proper financing has become so much easier with the introduction of crowdfunding. It has made getting the funds for your project simple thanks to a community of patrons who are interested in seeing you make it happen.
Instead of having to turn to banks and traditional investors, you get money from people who have a genuine interest in what you are doing, and all that you have to do is properly reward them for taking part in the process.
One of the most popular platforms is Kickstarter, which directly connects you to your audience. There are also equity platforms, such as Crowdfunder, which enable you to get in touch with non-traditional investors.
These tools make it possible for even the smallest startups out there to get their projects out into the open and make them happen. Still, there is the fact that you need to keep in mind things such as legal ramifications, platform regulations, and so on.
The power of offline marketing
No matter how digital the world has become, the fact remains that offline marketing tactics will not lose their power in the foreseeable future. While it is true that we are living in the age of Millennials, where almost everyone has a smartphone or a tablet, and that is where they make most of their purchasing decisions and engagements, there are still a lot of people who have a strong connection with the tangible world around us and prefer that kind of marketing. So, while offline tactics aren’t a new trend in any way, they are getting more and more creative along with and supporting their online counterparts.
From guerrilla marketing tactics which are almost always an amazing and memorable way of marketing your product or service, even the “smallest” assets such as billboards, signs, and banner flags remain effective approaches as they are bound to catch the eye of a passer-by, and quite often, if they are original and creative, leave an impression and drive them to want to learn more and engage with your company.
Values of the Millennials
Still, the fact is that the previously mentioned Millennials make up about 50% of the world’s population. These are people under the age of 30, with their own set of values which are now becoming a standard. As a generation, their values are mostly based on connectivity, collective responsibility, and a lifestyle that is both conscious and fun.
The essential thing to think about is the fact that the generation of Millennials is growing up, and taking over the world in terms of being the main investors. Therefore, their values are bound to shape the startup scene in a big way. Some of the traditional models will disappear in order to be replaced by redefined brands, and modern ways of consumption.
So, while startups mustn’t forget about more traditional and tangible strategies and tactics, they should be prepared to embrace the era that will be driven by the values of the Millennials, and adapt to their digital lifestyles.
At the beginning of every year, it is necessary for entrepreneurs to sit down and take a good look at the trends that shaped the previous year and make predictions about what it says about the future.
Technology is advancing incredibly fast and changing all the aspects that make up a startup drastically. Be prepared to adapt to the trends discussed in this article, as the future of your business will depend on it.