Times change. Not only millennials are becoming decision makers at companies, but Gen Z is slowly creeping up to them, and is starting to represent themselves in said companies. This means that Public Relations, Marketing and Communications needs to adapt to a new generation of B2B buyers.
In the B2C market it is obvious how these ’younger’ generations have the ability to influence sales with their behaviour. Customers vote with their wallets. They choose products and services that not only benefit them directly, but share the same values they have. One example for that is the prominent role of CSR – Corporate Social Responsibility – in today’s marketing.
The BETA Leaders
B2B is still a slower, more elaborate market for companies. However, this does not mean that we can stick to our old ways. Millennial decision makers have radically different attributes compared to their Generation X, or older peers. The abbreviation, ’BETA’, describes their traits the best, which means:
- Blurred Boundaries: For many, there is a looser division between home and work life. Thanks to social media, online workplaces and home office.
- Evolving: They seek improvement both in their careers and private lives, sometimes the two are interlinked. Individuality and self-branding are also important.
- Tech Narrative: They demand the same level of technological quality at home and at work. Outdated laptops and slow connections are not acceptable anymore, if employees are used to fast technology.
- Activist: They value clear and beneficial social or ecological goals in a B2B context as well.
Better Companies for a Better Future
The above list means that Millennial buyers and representatives can be reached in more various forms, even outside of regular work hours. However, they generally care more for privacy. ’Me-time’ is also fairly important to them, especially if it involves self-improvement.
They also care for novel quality of life improvements, and are not afraid (although not mindlessly eager) to change. They are less attached to hardware, software and other services, if there is a better alternative. Millenials are also more prone to follow trends, especially if they are socially or ecologically beneficial. Company image and reputation is extremely important to them, but not only for the company’s sake. For this reason alone Social Media and Online Reputation Management is key for companies.
They also consider how working at a given company represents them, how does it affect their own, personal brand. This new generation of B2B buyers is not only less set in their ways, they are actively looking to improve themselves and the companies they work at.