A lot has been written about the Millennial consumer, but not so much about the influence Millennials are having on their company’s business-to-business (B2B) purchasing decisions. There’s also a lot of hype about who Millennials are and what they want, making it hard to separate fact from fiction. How are Millennials’ preferences impacting b2b marketing and vendor/client relationships?
So, IBM’s Institute for Business Value (IBV) decided to conduct a data-driven study to better understand how Millennials’ consumer habits are bleeding into the workplace. As a global research leader with the IBV, I had the pleasure of directing this study, and on a recent THINK Leaders Future Proof Webinar Series, I presented some of the surprising highlights from our report.
First, a bit about our methodology. This is a global, multigenerational study. Survey respondents were Millennials, Generation X and Baby Boomer professionals from companies large and small across multiple geographies and industries. We looked at how each generation responded to a series of questions that focused on key phases of a b2b purchasing journey.
We found that Millennials, especially, prioritize the experience they have with a partner or vendor. Based on numerous reports about Millennial consumers, we know they have high expectations for their own customer experiences. Our findings show they are bringing that same expectation to the workplace. As clients, they prize convenience and collaboration even more than a vendor’s reputation or their use of the latest technologies. For Millennials, it is all about doing business on their terms, and that includes replacing most face-to-face meetings with virtual communications during the sales cycle.
At age 35, the oldest Millennials have been in the workforce ten years, and many of them have positions where they are the primary decision makers or behind the scenes wielding significant influence. The key takeaway from the study is this: For those b2b leaders who thought customer experience was mostly a concern for consumer-focused companies – they should think again.
IBM helps organizations fundamentally redesign processes, experiences and infrastructure to create new sources of value and drive greater efficiencies through Digital Reinvention™. Our consultants help you apply advanced technologies embedded with AI, automation and analytics to modernize enterprise IT infrastructure and optimize operations.
Automation pays out, and relatively quickly too. But some of the benefits come from less obvious places. The recent Forrester Total Economic Impact study looked at the impact — costs and benefits — of automation in the world of application management, based on in-depth interviews with IBM clients. For many organizations, the catalyst for considering […]
Within two years, most of today’s cybersecurity technologies will be obsolete. Since the beginning of 2016, hackers have stolen more than 8 billion records — more than double the two previous years combined — and that doesn’t account for unreported intrusions. The current system of patches, firewalls and blacklists isn’t working. It’s no match for […]
Working across a range of industries as I do, I’m always interested to get the perspective of a peer group on the way automation is impacting their own particular industry. So when I gave the keynote speech at the recent Millennium Alliance FSI event in Palm Beach, FL, I relished the opportunity to meet with […]