Millennials, who grew up in the age of the Internet and smartphones, are quickly becoming the largest generation in the U.S. work force. And, they’re changing the way B2B sales are conducted.
In fact, according to a 2017 research study by Forrester, 73% of millennials are involved in B2B purchasing decisions at their companies. Nearly one-third of them
are the sole decision makers.
So, how do millennials make B2B buying decisions? And, how should marketers react? We turned to a recent report by Merit for some insights.
The study, which surveyed 2,000 millennials across the United States, uncovered ways that these buyers research and qualify vendors and make purchasing decisions.
According to the findings, most millennials rely on search engines, websites and social media to gather information about potential vendors. Fifty-six percent indicate that these digital channels are the most important research channels.
In terms of content platform, video reigns. Millennials prefer the visual, engaging and succinct format of videos over other platforms like webinars and white papers.
They also want content that is product- or service-oriented. Demos, training and product news are considered the most helpful compared to information
like company or industry news.
Millennials take social, environmental and philanthropic efforts into consideration. In fact, 80% of survey participants indicated that these factors are important
to their purchase decisions.
What does all this mean for B2B marketers? It means first impressions are a big deal. Most millennial buyers form strong opinions about vendors long before they pick up the phone to talk to a salesperson. What they can gather about your brand from the internet factors heavily into their decision to buy your product or service.
Does your online presence tell your true brand story?