Millennials—the largest generation since the Baby Boomers—are the new darlings being targeted by marketers. Much has been written about the Millennial consumer: the most educated, most tech-savvy, most connected, thrifty, and socially and environmentally conscious.
These digital natives are the force that’s driving a new era for consumer marketing, one focused on values, transparency, relevancy and engagement.
But what about business-to-business (B2B) marketing? Increasingly, Millennials are assuming positions at work where they influence purchasing decisions. How do their consumer shopping habits impact their attitudes and approach for researching business products and services and engaging with vendors?
To find out, we surveyed 704 individuals who influence or are responsible for B2B purchasing decisions of US$10,000 or more for their company. They come from organizations large and small, across 12 countries and 6 targeted industries. When we compared the responses of Millennial employees (born 1980–1993) with those of Gen X (born 1965–1979) and Baby Boomers (born 1954–1964), we discovered Millennials’ behavior differs somewhat from their older colleagues, and their consumer practices do effect their B2B purchasing expectations (with a few surprising exceptions).
Millennials, even more than Gen X or Baby Boomers, prize a hassle-free, omni-channel client experience personalized to their specific needs. They want data, speed and trusted advisors who are eager to collaborate.