Four tips for successful marketing to Millennial B2B buyers
B2B selling is changing as more digital natives move into buying roles. Telstra Wholesale recently hosted a webinar to look into this interesting new trend. Are you ready to sell to the millennials?
Millennials - people born between the years of 1981 and 1996 - are set to be the largest generation in history. This generation’s influence in business is growing as they take on more roles in the workforce with the oldest, now in their mid-to-late thirties, entering their prime working years. From a B2B buying perspective, millennials are already influential in the buying process. Statistics show 73 per cent are involved in B2B purchasing decisions with one-third reporting that they are the sole decision-maker for their department.
We discussed this subject in a recent webinar with a panel of experts including Ryan Jenkins, author and speaker on multi-generational workplaces. Ryan shared his deep insights into why Millennial B2B buyers are different and how businesses can adjust to address this new force in B2B buying.
The Millennial difference
As with each generation before them, Millennials have distinct approach to researching and buying products that vendors need to understand in order to sell to these decision-makers.
“Millennials buying behaviour is different from previous generations because of their high-social and hyper-connected upbringing. Whereas the Baby Boomer generation’s approach toward the buying process is centred on building relationships, and Gen X’s is very much focused on bottom line, for Millennials social proof matters,” Ryan explains.
“They seek seamless, effortless and convenient experiences and they are massively persuaded by their peers. Before making a decision, they lean into their online networks to research brands, gather peer reviews, recommendations, and referrals.”
Four tips when targeting millennial buyers
With millennials’ distinct approach to the buying process in mind, how can ICT providers adjust their marketing strategies to meet these demands and increase sales? Ryan has four tips to keep in mind when selling to this audience.
1. Prioritise Mobile
“Millennials will make decisions about you or your product based on your digital presence or the lack thereof,” Ryan says. “Many Millennials are not just ‘mobile-native’, they are ‘mobile-only’. They want information on-demand and mobility throughout the sales cycle is not just a desire, it is their minimum expectation.”
2. Attract vs Prospect
In order to attract new buyers, sellers must deliver valuable content online where Millennial consumers are searching. “Today, your first handshake with a potential customer is going to be digital. Ensure your content is plentiful and as digitally native as they are so that Millennials can beat a digital path to your front door. Consider creating high-value content that answers the top five questions in your buyer’s mind,” Ryan says.
3. Provide Proof
“Social proof and user-generated content is what moves Millennial B2B buyers along in the buying process,” Ryan says, “so ask your Millennial customers to provide testimonials.” While case studies are nothing new in the B2B world, Ryan says that Millennials are happy to share. “Seventy per cent of Millennials feel a responsibility to share feedback with companies,” he adds.
4. Buyer Adaptation
Ryan says that buyers are now typically 57 per cent through the buying process before they engage a seller. “By the time they show up on your doorstep, they are an educated buyer,” he says. “If you cover redundant information they already know, that will frustrate your customer. Understand what the buyer already knows, ask questions to cover what they need to know, and demonstrate the value for the buyer’s needs.”
To get the full story and hear all of Ryan’s insights, watch our webinar Millennials: the new force in B2B buying.
