Trend #1: Continuing rise of AI

More and more developers are starting to not only develop AI products but also use AI when building products. Machine learning technologies are just the beginning. Similar to how cloud computing revolutionized infrastructure, machine learning will redefine what software is capable of.

By introducing user-friendly AI tools and platforms, developers are able to not only innovate faster but also decrease the friction in using their products. Increasing speed and simplicity.

Take ChatGPT itself as an example. Many developers are using ChatGPT to ask basic questions, and have ChatGPT spit out code in the language of their choice. Right now, most AI tools can only help you complete basic tasks, but over time, as more tools emerge, this will change how people create and maintain products.

The enhancements brought about by the rise of AI will significantly influence how marketers select the tools for their tech stacks, emphasizing the need for adaptability, integration, and strategic foresight. Here's how:

1. Prioritizing AI compatibility and integration: Marketers will look for tools that either already incorporate AI or can seamlessly integrate with AI capabilities to leverage data analysis, customer insights, and automated tasks.
2. Emphasizing personalization capabilities: Marketers will look for platforms that can deliver personalized content, recommendations, and interactions at scale, enhancing customer engagement and conversion rates.
3. Demanding advanced analytical tools: Marketers will need tools that go beyond basic analytics to provide predictive insights and decision-making support. They'll seek out platforms that use AI for deep learning, customer sentiment analysis, and predictive behavior modeling, enabling them to anticipate trends and customer needs more accurately.

Trend #2: Mobile-first design

A non-negotiable is the necessity of mobile-first and responsive design. Mobile-first design is an approach in web development and design where the website or application is created for mobile devices first, before creating versions for larger screens like desktops or tablets. This strategy stems from the increasing predominance of mobile devices as the primary means for browsing the web.

According to Statista, over 61% of people have a smartphone globally. User experience on smartphones should now be considered a primary determinant of a product’s success.

Here are some key aspects of mobile-first design:

• Prioritization of content: Designers focus on the essential content and functionality that mobile users need, ensuring a fast, intuitive, and efficient user experience.
• Responsive design: Websites are designed to adapt smoothly to various screen sizes and resolutions, ensuring usability and readability across all devices.
• Touch interactions: Considering the touch-based interface of mobile devices, designs are optimized for touch gestures such as swiping, tapping, and pinching.
• Performance optimization: Mobile-first designs often emphasize speed and performance, considering the potentially slower network speeds and lower processing power of some mobile devices.
• Progressive enhancement: This strategy involves starting with a basic, yet complete, version of the site for the smallest screens, then adding more complex features and layouts for larger screens.

Trend #3: Decoupling tech stacks

Another transition involves moving away from traditional, costly tech stacks to fully cloud-based or hybrid environments. Consider the shift in preference from Adobe Creative Cloud, a staple in traditional design tools, to Figma.

The reason? Adobe Creative Cloud is notably more expensive and, for many years, required a fixed license without the flexibility of monthly subscriptions.

Enter Figma. It's more affordable and offers an intuitive interface, abundant design options, and critical elements that simplify the design process. It's accessible enough that even team members outside the design department can easily provide input and make edits.

The move away from conventional stacks is timely. As finance and IT increasingly support your investments, it's crucial to implement changes and adjustments. Essentially, you’re reducing costs and increasing efficiency with modern tools.

Trend #4: Deliver more with less

This trend is driven by the need to maximize the impact of every dollar spent, making budget a key driver in decision-making processes. The focus isn't on a complete overhaul but on continuous improvement within the confines of conservative spending.

The role of budgets
The concept of burn rate, traditionally associated with startups, is now being scrutinized across departmental budgets. Finance teams are increasingly monitoring how quickly departments, including marketing, are spending their allocated funds.

For instance, if marketing is assigned a $5 million budget, the key questions become: How quickly is this budget being depleted each quarter, and what is the return on this spending in terms of revenue performance management?

Performance management
The crux of this trend is the correlation between spending and results. It's no longer sufficient to simply spend the budget; there must be a tangible, measurable return. This approach necessitates a deep dive into revenue performance management, assessing whether the investments made are truly driving the desired outcomes.

The importance of the right tech stack
The ability to deliver more with less is inherently tied to the technology and tools at an organization's disposal. Without the right stack, scaling efficiently and effectively becomes a challenge. It's about leveraging technology to enhance performance, automate where possible, and eliminate inefficiencies.

The right stack can amplify the impact of each team member, making it possible to achieve more without proportionally increasing the budget.

The role of data flow

It’s incredibly important that each layer integrates and that the data that flows to each layer is not lost and is in the same format. Maintaining this cohesiveness is particularly important in 2024—companies are so overwhelmed with data platforms and sources, that standardizing formats has become an indicator of success. This also leads to more reliability and consistency throughout the marketing tech stack.

Proper data flow allows for:

• Informed decision making: Access to up-to-date, comprehensive data helps marketers make evidence-based decisions.
• Efficiency and productivity: Automated data sharing reduces manual work, freeing up time for strategic thinking and creativity.
• Enhanced customer insights: Aggregating data from multiple sources provides a more complete view of customer behavior and preferences.

1. Business size

The size of your business is a critical determinant in choosing the right marketing tools. It refers to the scale of your operations, including factors like employee count and finances. This impacts the complexity and capacity requirements of your tech stack.

For instance, a small local business might opt for straightforward tools like Google Analytics for basic insights that can be streamlined across their millions of users.

An enterprise business, however, might need customized data points and reports. This would mean using more complex tools, like Looker Business Intelligence, for example.

2. Industry

Industry-specific tools cater to unique challenges and requirements. In the ecommerce industry, for example, a tool like Shopify could be best for building and managing online stores, while a service-oriented industry might benefit more from tools like Squarespace for streamlined booking.

3. Target audience

Tailoring your tech stack to align with the demographics, interests, and platforms frequented by your audience is crucial. For a brand targeting a youthful audience, an ad platform that integrates with TikTok might be an effective channel. If your business caters to professionals, it could make more sense to leverage tools like Salesforce for its CRM capabilities and business-focused features.

4. Budget

Particularly relevant in 2024 are the budget considerations—the financial resources allocated to a specific project or marketing tech stack. Typically, the cost of a product relates to the sophistication of tools. A startup with a limited budget may opt for a more cost-effective tool, while a larger corporation could invest in a more robust platform.