Who are the Millennials? Why should I bother? If you have heard of them, then it is easy to dismiss this label as yet another pointless label. In fact, this is a rather useful shorthand to describe a big change happening to business in the next decade or so.
Millennials are the up and coming cohort of people in the workplace working their way through their careers and slowly replacing the Baby Boomers (Full disclosure – I am apparently classed as a Baby Boomer so you may find traces of bitterness in this blog) and the previously trendy Generation X group.
A Millennial is apparently defined as someone born between 1980 and 1995 who have entered the workforce in this millennium. As they displace old codgers like me from the workforce, then their attitudes, approaches and beliefs will become important as these will influence how business is done.
The influence will increase as they assume increasingly important positions. This doesn’t just mean that offices will become brighter, the coffee better and the working hours more flexible, but the way we sell and market to these organisations will inevitably change.
This is of particular relevance to B2B because companies in this space tend not to have to change as rapidly as consumer facing businesses. If you are in B2B and feel you do not need to change your sales and marketing approach, then you could be making a huge mistake.
- The biggest behavioural change we have to factor in to our sales approach is that Millennials live online. This means that they are more likely to have done all their research beforehand and may not even want to talk to anyone before a purchase.
- They are more likely to trust what they read online so you better make sure that any online negativity is quickly dealt with and you have as much as possible available online. They won’t trust a salesman.
- They also live on Social Media so you will be more likely to find out about target customers than ever before. Social is also a valuable channel for them. Don’t listen to the baby boomers in your organisation telling you this is a waste of time.
- They expect to interact online - Video and conference calls are second nature to them and they will expect you to respond.
- People in this age group famously have short attention spans so no long descriptions online or tedious presentations if you actually get to meet them.
- Millennials know it all (as the father of them I speak from experience). Even if they don’t really, do not contradict them – don’t try and persuade them they are wrong.
- Because of the way they interact with the world, Millennials are probably less focused on the need for long term relationships with suppliers as everything is just a transaction. They also are more likely to move employers so they may not stay around long enough for you to get to know anyway.
- They have the power in the sales process. They know it and they are not afraid to use it.
Keep an eye out for the Millennials in your customers. They will gradually gain more power and influence and it is best to be ready to respond to them. Be nice to them as their lack of loyalty to employers will mean your paths may well cross in the future.
