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Insights on millennial B2B buyers

Insights on millennial B2B buyers

Millennials are populating the workforce today, with many becoming the new purchasing decision-makers in the B2B sector. A recent study by Pennyslvania-based agency Sacunas titled, ‘The Next Generation of B2B Buyers: How the Millennial Business Buyer is Changing B2B Sales & Marketing‘, revealed that 73% of its millennial respondents in the US labor force are now decision-makers for their company.

Though US-centric, this report still contains valuable insights even for Asia, as marketers can get a glimpse on what the new generation of B2B buyers expect in their research and decision-making process.

Here are what marketers and brands need to know:

Accessible information is a must
Mobile devices like smartphones and tablets are constant companions for the millennial B2B buyers. 82% of respondents say that these devices are crucial in their research process. Mobile devices give these buyers easy access to information in between meetings, at home or while traveling. Tech marketers and providers must ensure their service and product information are readily accessible and readable on user-friendly sites whenever, wherever.

In-tune with the social chatter
Millennials are a social savvy lot, favouring Facebook (40%) as the leading social channel when it comes to researching on new products. 63% of respondents were reported to check LinkedIn on a weekly basis or more, using it to network and follow news on market trends. This makes social media an effective channel to distribute information about your brand or product.

Aim your information well
They prefer targeted product information. 39% of respondents rated training and demos as the most helpful in their decision-making process, while 29% ranked product news second. They are less keen on product or company news and thought leadership. If B2B marketers want their attention, develop relevant, practical and specific information they really need.

Video content works best
Millennial buyers voted videos as the best marketing content they are likely to engage with at 29% compared to case studies (19%) and white papers (16%). The rationale is simple: videos are easier to watch than reading text on mobile devices. However, video content must be add value, be educational, entertaining and has an authentic brand story. This is why marketing videos are now essential in the content marketing mix for businesses.

Checking out the vendors
They use Glassdoor, the recruitment and company review site, to evaluate if a potential vendor is one they want to work and associate with. Although they are aware that reviews can be biased, 37% of respondents say they are curious enough to look. They are also likely to opt for a vendor who supports environmental, philanthropic or social causes. 29% say this is a very important factor in their decision-making, while 51% say this factor can hold some weight.

Tags: B2B Marketing, Branding, Content Generation, Mobile Video, Social Media

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