Marketing to Millennial Decision Markers
Quick answer: Marketing to millennial decision makers requires understanding a tech-savvy, creative and results-focused generation that dislikes red tape and rigid processes. Brands should invest in their digital presence, show that purchases have meaning, be willing to change course and prioritise mobile, since millennials increasingly make up the workforce and buying committees.
Millennials are probably the most misunderstood generation of all times. Born in 1982 and under, they have been stereotyped as job-hopping, lazy, entitled and self-centred. According to Forbes, 68% of organisations find it difficult to manage millennials. Despite their shortcomings, millennials tend to be tech savvy, creative and focused on getting their job done. However, they are not receptive to red tapes, bureaucracy, hierarchical structures or being forced to follow a specific process (if they can achieve the end result in a more effective way). Whether you like it or not, millennials are not merely part of the workforce – they ARE the workforce. As they succeed the generations before them (baby boomers and generation X-ers alike), understanding these emerging leaders is crucial.
73% of millennial workers are involved in decisions to purchase products or services for their companies or their own businesses¹. The traditional, linear sales process of qualifying, educating, creating interest and closing, is going obsolete as millennial B2B buyers prefer a different approach.
Invest in Your Digital Presence: Millennials will gather information upfront by consuming information via social networks, videos, blogs, podcasts etcetera. They trust peer generated endorsements. Company generated advertisements do not carry as much weight as word of mouth (especially from friends and family) and product reviews. Incorporate influencer marketing as part of your strategy to build trust with customers. Ensure that your sites and apps showcase your brand clearly and create engaging content that makes them want to stay on your site for as long as possible. It is not enough to be online, you need to actively engage with your social media users, listen to what they are saying and address any pain points.
Millennials want their purchases to mean something: This generation value their dollar more and appreciate products that meet both their logistical and emotional need. 60% of millennials gravitate towards products that are an expression of their personality². They have no qualms about trying new, innovative brands and suffice to say, their brand loyalty is low (even if the brand has worked for them in the past). Companies need to revamp the concept of ‘brand loyalty’ as a means to an end. Give your customers a reason to resonate or connect with your brand and return. Millennials value experiences and they are willing to pay for it. Content creation will play a leading role in your digital marketing strategy, to give your company the competitive edge.
Be willing to change course: Adapt your approach to your millennial audience. Test your ads and content across a variety of channels and track where they are resonating with your audience the most. Leverage on this data to compare the performances of your campaigns. Steer clear of justifications for doing what you’ve always done by scrapping stereotypes and engaging the voices of your customers instead. Millennials like companies that support innovative thinking.
Mobile is the way to go: 82% of millennial B2B buyers use mobile devices when researching for new products and services³. Ensure that your business sites and other content resources such as blogs, whitepapers and e-books are optimized for mobile devices. They often perform B2B research on Facebook which frequently embeds video content. Page loading is important not just for your user’s experience but also to your search rankings. Companies with mobile optimized sites triple their chances of increasing mobile conversion rate to 5% or more4.
Millennials are digital natives and history’s first ‘always connected’ generation and digital marketing is not only essential but necessary to be part of your business strategy.
References:
- https://madewithmerit.com/reports/Millennial_B2B-Report-Merit.pdf
- https://techspeed.com/research/millennial_trend.pdf
- https://www.mobilestrategies360.com/2015/05/12/millennials-mobile-demands-shift-travel-industry
- https://www.invespcro.com/blog/importance-of-mobile-website-optimization/
- Image Credit : https://unsplash.com/photos/IWoHLg2-UQU
Key takeaways
- Millennials now make up much of the workforce.
- They value meaningful purchases and efficient processes.
- A strong digital presence is essential.
- Mobile is the way to reach millennial buyers.
Frequently asked questions
Why should B2B marketers focus on millennials?
Millennials are no longer just part of the workforce, they are the workforce. Many now influence or make purchasing decisions in their organisations. Brands that adapt to these preferences are better placed to win millennial buyers.
What do millennial buyers value?
They tend to be tech-savvy and focused on results, and they want their purchases to mean something. They are less receptive to bureaucracy and hierarchical processes. Brands that adapt to these preferences are better placed to win millennial buyers.
Why is mobile important for reaching millennials?
Millennials rely heavily on mobile devices for research and communication. Mobile-friendly content and experiences make it easier for them to engage with your brand. Brands that adapt to these preferences are better placed to win millennial buyers.
How should brands adapt their approach for millennials?
Invest in your digital presence and be willing to change course when something is not working. Flexibility and clear value resonate with this generation. Brands that adapt to these preferences are better placed to win millennial buyers.
Want help applying this in your market? Talk to 90 Degrees Asia about B2B marketing across APAC.
