According to a recent B2B report on millennials (the generation born between 1981 and 1996) by Merit found that 73% are involved in making purchase decisions in B2B scenarios and one-third of them reported they are the sole decision-maker for their department.
The way we used to do business is clearly changing, so how can you benefit from this opportunity as a B2B or wholesale organisation?
1. Millennials will primarily use digital channels
Millennials have been growing up with the internet, smartphones and online shopping. They don’t like to call a representative who might not even pick up or use a form to order what they need. Efficiency is key and making it easy (for them and you) is what they are all about.
So instead of having to call (which can be time-consuming) or fill in a form (which means waiting for a response) they would rather use live chat or do their ordering process online. Otherwise, they may easily go to the competition.
2. Traditional marketing doesn’t work
Millennials have been raised to believe that they can be or do anything, and technology empowers them to do more. They see everything and can see through everything including any traditional marketing. Millennials often see marketing as an intrusion and an interruption from what they are doing.
Instead, marketing needs to be authentic and genuine. For millennials, technology is a part of everyday life and it is personal (83% of millennials have their phones right next to their bed while sleeping). They’ve grown up with technology and it’s part of who they are and they don’t want to be bombarded with impersonalised, unfiltered advertisement.
They want to be treated like people, instead of prospects and talking to them like a human instead of using corporate-speak. This is a big part of reaching your millennial B2B buyers. Cold-calling, emails about the value of your business or how you’re the #1 in the industry won’t be effective with millennials. They are more likely to hear your message when it talks about the value for them or something that says: “I can see myself in this”.
Again value and efficiency are key. For example, an hour-long demo disguised as a webinar won’t work for millennials unless you do a good job telling them why your product or service could benefit them specifically.