Millennials might still seem like children to some. However, they are taking the labor market by storm. In fact, in just three years, Millennials will make up over 35% of the workforce. So, you need to shatter the image of them being the awkward kids just entering their adulthood. Sorry, but Millennials are coming and taking over the top steps of the corporate ladder.
Moreover, while doing so, Millennials are acquiring more purchasing power. Therefore, they shouldn’t be an afterthought when it comes to marketing. This generation of young adults represents a vast market. Consequently, it’s also a massive opportunity.
What’s more, B2B marketers should look around and take note from B2C marketers. They have caught on and started catering to millennials needs and marketing expectations.
Why do we keep overlooking the Millennials?
Let’s be honest. When someone says “Millennial,” we all picture a kid. Sure, they’re grown up. However, we still think of them as youngsters. Even when we belong to the same category.
It’s a strange thing, this outdated opinion that millennial generation has no buying power. However, it’s a real waste not to adjust your marketing strategy to suit their needs.
Researching and understanding the buying habits of Millennials should be high on your to-do list. Furthermore, focus on making meaningful connections and developing relationships. You need to grab the attention of elusive Millennials. Cater to their needs and recognize them for the huge market share they represent. Only then will you be able to target them as new B2B buyers.
However, always keep in mind the most essential thing. Millennials have different habits, expectations, and decision-making process than other generations. Here’s some insight into that subject.
They want to feel special, so make it personalized
You can’t forget that your audience isn’t one massive entity. It’s made out of people. Those individuals have unique needs, interests, and drives that are specific to them. Yes, there are significant similarities between them, which clump them together. However, it’s still a heterogeneous group of people.
Therefore, you need a more personalized marketing strategy for Millennials. They need different things than other generations. That’s the only way to stand out from the crowd. It’s also the only way to attract their attention. You need to cancel out other non-specific noise that other brands are making. To do that, you need a remarkable strategy that’s tailored very carefully. Your previous tactics were to target a specific group. However, your new approach needs to be hyper-targeting.
Over 60% of Millennials agree on one thing. They prefer brands that develop long-term relationships with their potential customers. Directly going for a quick sale won’t work with the new B2B buyers.
Furthermore, 34% of Millennials need personal experience with a brand. Otherwise, they won’t commit with a purchase. That’s a lot more than in Generation X (25%) and the Baby Boomer generation (17%). Millennials don’t like to jump in untested waters.
That means that your marketing campaign needs to feel like a personal outreach. What you need is extensive demographics data. That’s how you’ll personalize your campaign in an appealing way.
Don’t bother with cold calls; Millennials won’t respond
The average Millennial has an inbox full of spam mail. They are tired of cold calls. Not to mention the pop-up ads they are constantly bombarded with. Therefore, impersonal, generalized marketing doesn’t do anything for them. They ignore it, without giving it so much as a second glance.
So, if cold calls, mass emails, or direct mail are a part of your strategy, abandon it. They won’t respond. What’s more, a significant number of them will see too much impersonal marketing as an annoyance. Over 85% of Millennials will drop a brand they are loyal to if they get too many calls and emails from them.
Furthermore, Millennials spend their time on social media. They are accustomed to personalization and targeted ads. And, other forms of marketing need to follow suit. Instead of cold calls, Millennials expect informative content. Hit them with a DIY or a How-To article, rather than a general email with a sales pitch.
Be creative and innovative
In a way, Millennials are like babies. They like colorful, visually striking content. Therefore, you should invest in stimulating videos and infographics. What’s more, 23% of Millennials will reward creative marketing efforts with repeat purchasing and their loyalty. Meanwhile, only 18% of Gen Xers and 13% of Baby Boomers will do the same.
Therefore, you need to find the right balance between personalized marketing and creativity. That’s your way to a Millennial’s heart.
Even if such marketing isn’t your cup of tea, you’ll have to get used to it. Millennials are taking the market over by storm. Furthermore, they’ll soon make up the majority of your audience. Therefore, it’s time to take into account their unique preferences and cater to them. That’s how you’ll reap the financial rewards.