8 Keys to Selling to the Millennial B2B Buyer
In 2014, Google reported that 46 percent of potential buyers researching B2B products were Millennials, up from 27 percent in 2012. Today, 73 percent of Millennial workersare involved in decisions to purchase products or services for their companies or their own business, and 34 percent are the sole decision-maker regarding purchases.
As more and more Millennials begin controlling big budgets, it becomes increasingly critical for seasoned sellers to understand and connect with the Millennial B2B buyer.
Benefits of Selling to Millennial B2B Buyers
- Loyalty Limbo. Whether they are new to the buying role or looking to reevaluate any long-standing relationships or traditional processes, the window to win Millennial loyalty is open.
- Vast Value. Because Millennials are young in their careers, they inevitably carry a high lifetime value. Nurture the relationship to turn their inevitable job hop into new opportunities.
- Peer Persuaded. Millennials will turn to their robust social networks to crowd-source decisions as well as recommend and refer business. Deliver exceptional value and social sharing shall be your reward.
Here are eight keys to positioning a product or service with the Millennial B2B buyer.
1. Know Millennials
Fifty-two percent of workers say they're least likely to get along with someone from another generation.
Millennials communicate, shop, decision make, and buy differently than previous generations. A firm understanding of the behavior and values of Millennials is the first step in establishing common ground with a next generation buyer.
Survey your current Millennial buyers--not by calling but with a mobile friendly survey--and ask: How do you search for products/services?, How do you prefer to communicate?, What associations or social networks do you belong to?, What would make our company more appealing to you?, etc.
Based on the survey data, create a detailed Millennial buyer persona, a semi-fictional representation of your ideal cu