Insights into the new world of B2B buyers
Why companies urgently need to adapt their marketing and sales strategies.
As quickly as times change, so do different needs. Supposed boundaries merge seamlessly; thanks to technologies and digitality, everything seems possible these days. This has created new expectations, which can also be seen in the demands of customers in the world of work.
But who are the customers in the world of work? The majority of B2B buyers belong to Millennials (also known as Generation Y, born 1981-1996). In order to understand their needs, it is necessary to take a closer look at the generation's background.
So what exactly defines this generation? In summary, Millennials are the first digital natives and are better educated than any generation before them. They grew up with computers and have been familiar with cell phones and the Internet since a young age. In contrast to Generation , computers and the like since childhood. They are open to new technologies and are familiar with life with social media.
Decisions are made anonymously.
This different type of digital interaction, compared to previous generations, is also reflected in the world of work: 75 % of buyers prefer digital and remote interactions to make purchasing decisions. Half have already made a purchase decision before contacting a company.
Because of growing up in the digital world, Millennials are used to constant access to information, which they don't want to be without in their everyday work. Finding relevant information should be as quick and uncomplicated as possible. Despite the preferred anonymous research, a personalized service is expected that is ideally available around the clock. The independent and flexible decision-making that this enables is preferred by Millennials.
Companies need to adapt their marketing strategies.
In order to keep up with the competition, companies are faced with the challenge of meeting these complex requirements. Forms of communication must be used that meet the need for anonymity, flexibility, permanent presence and individuality.
Video marketing is now indispensable in this context. Interactive and immersive videos in particular represent an optimal solution for responding to the needs mentioned. They enable an anonymous, personalized service that is permanently available and are easy to use.
Sources:
McKinsey
Forrester