Infinium Research Reveals: Martech Startups Aren’t Addressing Core Marketing Needs
MIAMI, FL / ACCESSWIRE / July 11, 2024 / New research from US-based venture studio Infinium reveals a huge disconnect between the tools new MarTech startups are building and the actual needs of marketing professionals.
During its research, Infinium surveyed 100 marketing heads and marketing managers and analyzed PitchBook data on U.S.-based tech startups. The company found that marketing specialists need more solutions for budgeting (18.45% of respondents), market analysis (21.43%), and strategic planning (14.88%). However, of the 41 startups founded in the MarTech and AdverTech sectors after January 1, 2023, only four offer market analysis products, only one has developed a tool for strategic planning, and none offer marketing budget planning assistance, Infinium’s data shows. Instead, most new entrants are focused on performance marketing tools.
Dawid Siekiera, co-founder and CEO of Infinium, believes this trend stems from the common market practice of founders creating a solution first and then looking for an audience, rather than tailoring product development to meet the actual needs of marketing professionals.
One of the root causes of this problem is the current behavior of venture capitalists, who tend to back companies that promise to disrupt existing models in various sectors. This mindset leads founders to prioritize innovation over relevance, resulting in a plethora of tools that, while technologically advanced, fail to address the fundamental pain points of marketing teams, adds Dawid Siekiera.
He believes that venture studios offer a novel approach: unlike traditional venture funds, venture studios don’t just provide capital, they bring in expertise and help founders reorient their ideas to fit real market needs. “They start with a problem, understand current market trends and pain points, and solve these problems with existing technologies and innovative approaches,” Dawid Siekiera further explains.
Finding new partners like venture studios can be beneficial for startups in the current environment where venture investment in MarTech is declining. According to a recent survey: report Funding is down 87% compared to the same period in 2023, plummeting from $13.2 billion in Q1 2023 to just $1.8 billion in Q1 2024, according to CabinetM.
At the same time, the demand for martech is constantly growing due to the increasing internet usage and rapid technological advancements. The shortage of skilled labor is also leading to an increased demand for software solutions that can optimize marketing processes. According to a recent survey: dataAs of May 2024, there are already 14,106 technology products in the pipeline, compared to 11,038 in 2023, representing a 27.8% increase year-over-year.
About Infinium Venture Studios
Infinium is a startup factory designed to enhance the entrepreneurial process by incubating innovative ideas, supporting great founders, and providing the resources needed to transform sectors. Their creative team has extensive experience helping transform a variety of industries, including FinTech, Cyber ​​Security, Productivity, MarTech, SalesTech, and more.
Media Details:
Company Name: Infinium Venture Studio
Corporate Media Contact: Mike Podras
Email: [email protected]
Company website: https://www.infinium.vc/
sauce: Infinium Venture Studio
