In a recent article Ayaz Nanji (@ayaznanji) of Marketing Profs discusses a report done by IBM about the differences in purchasing decisions based on generations. Millennials B2B buyers want to interact directly with vendors' representatives far more than Gen X or Baby Boomers buyers when researching products and services, according to a recent report. The report was based on data from a survey of 704 people who influence or are responsible for B2B purchasing decisions of $10,000 or more for their company. Respondents came from 12 countries and 6 industries.
“Millennial buyers value ease of doing business most when evaluating a vendor; Gen X buyers look for assurances that they'll be satisfied with their purchase; Baby Boomer buyers prize a vendor's ability to respond quickly.”
Nanji Outlines 4 Key Facts:
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When researching B2B products and services, Millennials prefer direct contact with vendors
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Millennials meet with vendors face-to-face during the sales cycle, but they would much rather interact remotely
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Millennials look for vendors who offer great client experience
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Millennials put equal weight on data analysis and the opinion of family and friends when deciding when to make a B2B purchase costing $10,000 or more
This is great news for all the new online marketplaces out there. The Millennial generation is notoriously dependent on online services, and ease of use in the products they own. The great thing about the collaborative economy is the fact that it’s whole business model is built to have the convenience and efficiency that they crave. If you are able to create a business that creates quality products and in-depth online services and customer care, you have a foot in the door already. Needless to say, if you’re on this path already, just keep doing what you do.
Read the host article here
