Most every sales person in our industry is trying to figure out how to win the business of the millennial consumer, the generation expected to account for $1.4 trillion in spending in the U.S. by 2020. No wonder companies are scrambling to adjust their sales and marketing strategies to reach this generation.
You’ve probably heard that millennials are disloyal, that they jump from product to product, just like they jump from job to job. However, this is a big myth about the millennial generation. Over half (50.5%) of millennials say they are loyal to their favorite brands.
While this generation has major brand loyalty potential, earning that loyalty is a process. You need to woo these tech-savvy consumers with authenticity, not sales-speak, as they are the most educated generation in history.
The Millennial buyer can be intimidating, but the challenge to gain their trust is not impossible.
Here’s a few tips to help you confidently sell to your newest generation of buyers.
You have to know your customer. A ton of market research exists regarding millennials that you can use for reference. (Start here.) Read up on their buying trends and preferences and what’s important to them so you can develop a targeted sales approach.
Millennials care about purchasing products and supporting brands that align with their values. Authenticity is #1 most important with Millennials; 72% of them are willing to spend more on brands that support causes they care about.
One of those causes is the environment. This is your chance to tell them how tabinets you sell are made in America and are certified “green” by the KCMA . If your company sponsors fuhe cnd raisers in support of reducing poverty or feeding the hungry, get that mentioned somewhere, as well.
If you are researching them, you better believe they are researching you. They can (and do) Google your name and gain instant access to all of your information.
Being authentic has to do with the persona you and your company portray both online and offline – do they match up? They better.
When this generation was born, it was immediately assaulted with “Buy Now!” types of advertising, and they’re tired of them and pay no attention.
Millennials know they have options, so they do their research, and they will either confidently make a purchase or walk away.
You need to convince them why they need your product, how it will benefit them.
Millennials crave personalization and collaboration. They want to participate and they want their opinions heard, so include them during every step of the sales process and beyond. Listen to and respect their opinions.
They’re constantly connected. They don’t remember what it’s like to not be connected. Forget about TV and radio – not on the millennial radar.
Several studies have shown that Millennials have short attention spans. Witness their preferred communication tools: text messages, Snapchat and Instagram are all short, concise and visual.
This generation is used to checking online before buying anything. Their first impression of a company or product comes from website design and functionality.
With their short attention span, you simply must have a modern, convenient, smooth-working web site and mobile app. Their on-line experience with your company must be seamless, no matter the device they are on.
#4. Be Informative, But Be Quick
Your goal is to convince them why they need your product in the least amount of time.
They’ll fact-check what you’re offering them, regardless of what you tell them, so it’s wasted effort trying to explain everything, rather than letting them explore.
Millennials search the Internet to learn more about what you are trying to sell them so they aren’t caught in any unpleasant surprises. They can spot a fake and won’t hesitate to switch brands if they sense something isn’t genuine or trustworthy.
Millennials want real, down-to-earth people who can truly connect with them and give them the truth. They want authenticity to counteract their skepticism.
Be consistent and transparent with whatever you tell them about your services, and if their fact-checking reveals that you were right, they will be more willing to listen.
Impressing millennials requires that you act as the person who both knows your business and can tell them how it relates to their lives.
They want to know that you hear them, you acknowledge their problems, and provide solutions for them.
Research what kinds of problems you can address, then create content about it. Open their eyes to problems they never knew they had; then present your solution.
Many stereotypes exist about millennials, like they have no brand loyalty, they’re always glued to their phones, they feel entitled, etc.
The fact is that they are a diverse group.
It’s dangerous to look at Millennials as a homogeneous mass. While they belong to one generation, Millennials fall on a wide spectrum of tastes, behaviors and income levels.
Since we published this article in July, some new data regarding Millennial spending has come to light. We encourage you to click through to this study and read how this generation is really spending their money. Thanks to lendEDU.com for the info.