How Millennials want to do business

I am fascinated by this growing generation as the Millennials are the largest generation since the Baby Boomers. These digital natives are the force  driving a new era for consumer marketing, one focused on values, transparency, relevancy and engagement.

IBM Institute for Business Value asked, “what about business-to-business (B2B) marketing?” Increasingly, Millennials are assuming positions at work where they influence or make B2B purchasing decisions for their company. How do their consumer shopping habits affect their preferences and practices for researching business products and services and engaging with vendors?

More specifically, how does your organization engage with suppliers during the sales cycle?  This new trend can impact the way our organizations engage members.  For example, right now, 69% of the time Millennials are engaging in face-to-face meetings but in the future, face-to-face meetings are expected to decrease to 24%.  Another shift is email, now at 37%, we expect the engagement to be 69% in the future. Click here to see more ways millennials expect to engage with vendors.

This brings up the question of how relevant are our organization’s meetings?  Should you invest in online discussion forums?  What about face-to-face meetings with an online component?  Are trade shows becoming obsolete?  Take a look at your present association business practices and take note.

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