Brace Yourself: Millennials are Coming
Millennials. We’ve all heard the term. But what is it referring to, and why should you care?
‘The Millennial Generation’ is defined as those born between 1980 and 2004. Believe it or not, they represent the largest demographic shift in the U.S. since the ‘Baby Boomers.’ According to Forbes Magazine, by 2020, they will make up 50% of the US workforce, and by 2030, they will make up 75% of the global workforce.
And they aren’t just coming in as your coworkers. In today’s market, Millennials might just be your key demographic. So, whether you enjoy working with a young member of this growing generation or not, it’s time you learn to love them, live with them, and—critically—sell to them.
Millennial-Approved Sales Tactics
In the ‘old-days’ of selling, reps went door-to-door, or thumbed through the phone book for valid leads. These days, with technology at our fingertips, reps are interfacing with a higher volume of prospects, many of which are now members of the Millennial generation.
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So what do they care about, and how can you sell to them? Here are 5 tips on how to get them to say ‘yes’ to your product:
1. Technology is their friend.
Millennials have grown up around technology. Some of them were playing on computers by the 2nd grade (or earlier)! Utilize technology in a way that makes you enticing to a Millennial. Get them the information they need, fast, and provide it in a way that makes sense for them. Dry, black-and-white spreadsheet style quotes will likely scare them off, even if your product is just right for their needs. Instead, give them easy access to engaging quotes with personality.
2. Cater to them!
Millennials are focused on themselves in a way earlier generations don’t quite understand, thanks in no small part to the advent of social media. Millennials are constantly projecting their ‘brand’ via Facebook, Instagram, LinkedIn, Twitter, etc. Appeal to that ME-focused mentality by providing them with a personal touch. Be relevant and try to form a relationship with them, and they will short list your company or product.
3. Don’t let them catch you in a lie.
Millennials do their research. In fact, a study by Pragmatic Marketing says that a buyer is already 80% of the way through their journey before they ever speak to a sales rep. Don’t push unwanted information on them, but rather take a consultative sales approach. If they feel like you have their best interests at heart, they are much more likely to buy from you.
4. They want it now!
Growing up with technology and instant gratification, they have developed a strong sense of urgency. They don’t like to be kept waiting! In their world, information is accessible in an instant, and if you keep them waiting, you can be sure you’re going to lose out on the deal to a faster, fresher competitor.
5. Epic fail!
Coming up through one of the worst recessions in country history, Millennials are still extremely risk-averse. Making a buying decision in a company that could cost them their job is scary, and not worth the risk. They need to trust that this decision won’t be the end of their budding career. Reassure them that their decision is a good one, and give them solid facts to back it up, so they can go to their boss with confidence.
Of course, following these 5 tips won’t win you every Millennial deal, but they should help you remain much more in-tune with a booming generation that is taking over the workforce. Millennials are not all bad. They’re ambitious and excited, and ready to change the world. Will you be along for the ride?