The Why’s and How’s of B2B Marketing for the Millennial Generation

Millennials are identified as those born between 1981 and 1997, which means that they are now in their 20s and 30s. This is an age when individuals enter the labor market and they are given more responsibilities as they develop their careers. In doing their work, they are also knowledgeable and arguably more adept with the latest technologies, such as social media networks and mobile applications. And they now represent almost 50% of our total workforce.

Given these characteristics, the influence of the millennial generation in business and commerce, and apparently almost all aspects of our lives, cannot be overlooked. According to research carried out by LinkedIn, millennials are responsible for spending about $2 trillion dollars every year, with an annual combined income of about $3.4 trillion. And so whatever the industry, they are a big part of our current and future market.

Which is why it is important to cater to their needs and requirements. In the battle for the millennials’ attention and appeal, it is important to note that they are the first generation that grew up with the internet and social media. They are thus aware how to use those technologies for practical purposes and to their advantage.

Millennials want to feel connections, such as the way they identify with brands. This need to connect and interact provides an impetus for an active social media presence as an essential part of businesses’ B2B marketing strategy.

Social networks are crucial in the millennials’ financial decision making processes. In fact, as many as one in five millennials believes that social networks will be integral in all their future financial decisions.

Mobility is another factor that millennials often yearn for. As such, mobile applications are crucial for businesses, wherein a huge number of mobile searches lead to direct sales action within the hour. Online contents should also be is mobile friendly, so people can watch videos and other content wherever they are.

Needless to say, more and more millennials and business professionals in general prefer to do business online. “Face to face conversations are less common in the millennial generation, as texting and social media have come of age, so it may not be uncommon for a millennial to want the entire buying process to take place online,” says Lucy Moran, vice president of marketing, digital and brand at the global commercial data analysis company Dun & Bradstreet.

With the convenience provided by the internet, online and mobile platforms, potential customers are starting their research online and, ultimately, would prefer to complete as much of the purchase process as possible online. This means investing in digital content where customers navigate is a critical factor in their buying decision.

Looking forward, marketers also need to start considering Generation Z, an age group that presumably only knows digital, and have just begun moving into decision making and buying positions. Unlike millennials, Gen Z may not be as willing to provide information online, which means marketers may have to find new ways to get the data they need in order to effectively serve this next generation of customers.