YOUNG. DIGITAL. EXPLOSIVE. | HOW B2B SALES LEADERS ARE ADAPTING TO THE NEW GENERATION OF BUYERS
Read how to adapt to the new generation of millennial buyers:
- Younger generations are increasingly moving into decision-making positions in B2B purchasing. This requires a rethink of customer communications.
- To attract and retain the new B2B generation, suppliers need to create more positive digital experiences along the customer journey.
- With the right coaching and supportive consulting, companies can better align their sales strategy with the new generation and deliver sustainable value.
DIGITAL DARWINISM
Our business world is in the midst of Digital Darwinism: new tools and technologies are coming to market at a dizzying pace, industry boundaries are blurring – and no company can be sure of its position. Today, a young, unknown startup can make traditional business models obsolete overnight and disrupt entire markets. In a world of digital revolutions, digital Darwinism is setting the rules of the game. It’s not the strongest, biggest or best-resourced companies that will succeed in the marketplace – it’s those that can adapt most flexibly to rapidly changing conditions. That’s why B2B companies are currently busy building new digital capabilities.
DIGITAL NATIVES ON THE RISE
And who has better digital skills than all those generations of “digital natives” – people between the ages of 19 and 39 who have grown up with the Internet? These generations are increasingly moving into decision-making positions – including in B2B purchasing. According to the B2B Buyer Report 2022 by Dutch software company Sana, millennials are already responsible for around three-quarters of all B2B purchasing decisions. LinkedIn’s B2B Institute calls this new generation of decision-makers “BETA”. They are characterised by blurred boundaries between personal and professional life, a strong desire for continuous development, a high affinity for technology and political engagement.
The new generation of B2B buyers is well informed and very self-confident. They are also keen to try out new tools, with a focus on usability and user experience. If a tool is easier to use than the previous one, they will switch suppliers without hesitation. And: Their buying behaviour is much more digital: according to Gartner’s Future of Sales 2025 report, 44 percent of millennials prefer not to interact directly with a salesperson. This poses three challenges for suppliers in B2B purchasing:
- The entire customer interaction is moving even more into the digital world.
- Suppliers should therefore create more digital experiences along the customer journey.
- This requires the development of new tools with high usability – or an investment in external tools.
REALIGNING THE HYBRID SELLING MODEL
B2B vendors should increasingly shift all customer interactions to digital channels. This does not mean that sales representatives will be completely replaced, but rather that the omnichannel channels will become increasingly digital. The aim is to develop a hybrid sales model in which customers can do much of the researching and ordering themselves online. Self-service options such as customisation, product generators and the like are all potential digital services that contribute to the customer experience. Face-to-face advice can then be requested by the customer if required. This can be on site or via video call.
The question for managers is How can we create more positive digital experiences along the customer journey? It is recommended to define the customer journey, identify all possible customer touchpoints and continuously improve them. B2B websites need to be updated with the latest technology. It is unacceptable that many suppliers still have websites from the 1990s – the digital Stone Age. The entire online presence must appeal to and engage the new generation of B2B buyers, or the supplier will soon lose its customers.
DIGITAL TOOLS WITH B2C FEATURES
Using easy-to-use digital tools that are almost B2C in nature will appeal to the new generation of buyers. If a supplier is still using print or PDF catalogues in a do-it-yourself design, action is needed. A web shop with high quality product images and ease of use is now a must. The company website is now much more than a digital business card – it is a lead generator. Customers should have direct access to product information, such as blog posts, white papers or success stories.
With customer centricity in mind, the question also arises: Are there digital tools that facilitate interaction between the buyer and the seller? If so, companies should acquire or develop these tools themselves. For example, digital customer platforms. Here, the buyer can order products online and has access to his individual purchase history and other self-service components. On the supplier side, this provides a direct feedback channel through which customers can share their experiences with products and services and participate in optimising them.
CONCLUSION: RETHINKING B2B SALES
As the B2B buying process has changed, so should the sales strategy. Salespeople are still an important part of the omnichannel, but they are no longer the only channel for customers. Easy-to-use digital channels are the key to sales success with the new generation of decision-makers. The goal is “B2B like B2C”. Only those who create the structures, processes, people and tools for a hybrid sales approach can survive in digital Darwinism. Professional coaching and implementation consulting from external sources are important accelerators and enablers for companies.
Key Takeaways
- Younger generations are increasingly moving into decision-making positions in B2B purchasing. This requires a rethink of customer communication.
- Vendors need to create more positive digital experiences along the customer journey to attract and retain the new B2B generation.
- With the right coaching and supportive consulting, companies can better align their sales strategy with the new generation and deliver sustainable value.
This article first appeared in the Business Tip on 2nd June 2022.
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