Peter Tsai is a Senior Technology Analyst at Spiceworks, a platform that connects the IT industry to help technology buyers and sellers get their jobs done, every day. Formerly a systems administrator, programmer, and server engineer who has lived IT from the inside and out, Peter now creates content for the millions of IT pros using Spiceworks worldwide.
Now the largest generation in U.S. history, millennials are increasingly making purchase decisions on behalf of their organizations. Today, smart marketers need to be aware of the interests, preferences, needs, and motivations that drive purchases made by millennials. Based on Spiceworks research regarding generational buying habits, we've identified a few data-driven ways marketers can better connect with B2B buyers as the workforce shifts, and the base of millennial technology decision makers grows.
Bottom line: Millennials desire meaningful brand relationships and experiences, more so than their older peers. As a result, they won't take well to cold calls and mass emails that scream "buy now!" In fact, 60% of millennial buyers said they prefer to purchase from tech brands that focus on building a relationship vs. those looking for a quick sale. And 34% said they need to have a personal experience with a tech brand before making a purchase (compared to 17% of baby boomers).
So instead of sending millennials product pitch after product pitch, mix things up a bit. Add a human element to your campaigns by including more content personalized to match their work environment, where they are in their purchase journey, and what their interests are (even outside of work). But just remember, cold calling millennials and expecting to make a sale right away might do serious damage to your brand. Build trust over time and focus on the relationship first. This method will pay off in the long run.
Yes, it's true that millennials want to buy from brands that have a strong reputation. For example, 73% of millennial buyers said a strong brand reputation is important or critical when evaluating tech vendors. And nearly 50% said it's important for brands to be a leader in their market.
However, when it comes to how long a company has been established, don't expect millennial IT buyers to be impressed if your company has been around for many decades. When evaluating tech vendors, only 23% of millennials said it's important or critical for companies to be established for at least 10 years, compared to 31% of Gen X and 32% of baby boomers.
This means that even startup or young companies have a good chance of success with younger buyers if they can effectively highlight the merits of their product. For example, if your company lacks a storied history, you can make up for it with outstanding user reviews or case studies that speak to the credibility of your brand.
Compared to their older peers, millennial B2B buyers think it's more important for a company's mission to align with their values. When evaluating tech vendors, 26% of millennials said this alignment is important or critical, compared to 19% of Gen Xers and 13% of baby boomers. 36% of millennial buyers also think sustainable business practices are important or critical when evaluating vendors.
Because younger buyers are more idealistic, they might be more willing to switch to a new service or product if they feel a connection with a company's values, so it's important for marketers to keep this in mind, especially if you work for a particularly altruistic company.
Ultimately, as millennials move up the ranks and gain more influence over organizations' budgets, B2B marketers need to recognize this generation's unique preferences. And marketers who adjust their tactics to cater to millennials can improve their chances at influencing millennials' purchase decisions and reaping financial rewards.