Millennials are the generation that was born between 1980 and 2000. The majority of this generation experienced the evolution of technology and social media platform. And when it comes to buying behavior, millennials are often relying on sites like Yelp, TripAdvisor, Amazon, and YouTube. As of 2017, the U.S. labor market consists of 35% millennials, 33% Gen Xers and 25% baby boomers. And more than 45% of B2B technology buyers are 25-34 years old, making millennials the single largest demographic, and followed by 30% in the 35-44-year-old age group. With more than 56 million millennials available in the United States, it is easy to understand the impact on the U.S. workforce. In B2B, 73% of millennials are involved in the technology purchasing process and as the decision maker.
With all this information, it is possible for everyone to think that all B2B vendors would cater to this unique age group. Nevertheless, over 23% of marketing and sales leaders are unaware of millennials. By considering millennials, it is time for B2B vendors embracing new best practices to sell and market its B2B services.
1. Don’t be aggressive.
Before deciding to purchase a product, millennial buyers are 57% of the way through the buying process. And it could be a big turn off if millennials see B2B vendors as being too pushy and made an overdoing sale.
2. Explore new channels.
92% of millennials use social media to engage with B2B vendors, which is an opportunity to converse with the more genuine and trusting connection that could generate more sales. Third-party reviews are also crucial for the millennials before decided to create a transaction.
3. Train for transparency.
Training the sales representatives to listen to the questions fully and transparent about limitations, educate them about the possibilities and opportunities, and being as honest as possible to build trust and lasting relationships with the millennial customers.
4. Video as the content
52% of marketing professionals worldwide acclaimed video as the content with the best ROI. It is because millennials spend a disproportionate amount of the time watching the short-form vertical video. It means marketers need to focus on creating content that is native to social media platforms.
5. Events based campaign for social media
Millennials focus on capturing the perfect photos and videos for social media. B2B vendors could use the strategy to create events that ask the attendees to post photos and have a live video stream on social media. Afterward, B2B vendors could use user-generated content across marketing channels, whether using tweets from the event campaign or using hashtag post in social media.
6. Influencer marketing
Influencer marketing provides validity for technology. Discover the correct influencers requires extensive research. To be effective, B2B vendors could use content marketing tools which have an influencer and outreach search function. B2B vendors could use influencer agencies and marketplace platforms and partner with analysts that could provide insights and authority
These new tactics are different from the old-fashioned way that used to be in B2B. In the end, if a millennial has a positive experience with the B2B vendors, it is more likely for them to buy the product, write a review, act as a referral to the next buyer who is considering B2B vendors’ product.