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Gen Y: The New B2B Buyer

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The B2B buyer is changing. Get the inside details on Gen Y as a decision-maker.

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Gen Y: The New B2B Buyer

  1. 1. Gen Y Rising: Preparing for the New BtoB Buyer<br />Dick Strassburger <br />VP, Integrated Media Strategies<br />June 2010<br />
  2. 2. meet Gen Y<br />75 million<br /><ul><li>born 1980 - 2000
  3. 3. children of baby boomers
  4. 4. younger siblings of gen Xers
  5. 5. call me “millennial”</li></ul>Source: US Census Bureau<br />2<br />
  6. 6. meet Gen Y<br />higher expectations<br />feels special, optimistic<br />adult-busy childhoods<br />connected 24/7, interdependent<br />techno-savvy <br />serves the community<br />3<br />
  7. 7. what are they like in the workforce?<br />game changing<br /><ul><li>feels indispensible
  8. 8. loves a challenge
  9. 9. works best with friends
  10. 10. good with finances
  11. 11. sets work/life balance
  12. 12. goal oriented
  13. 13. recognition hungry</li></ul>4<br />
  14. 14. Millennialsare the first digital generation<br />Impact on today’s interactive media landscape<br />Google<br />social networking<br />widgets<br />gaming<br />technology<br />“I don’t use Twitter.”<br />
  15. 15. media consumption<br />Immediacy. Personal.<br /><ul><li> cell phone
  16. 16. text
  17. 17. social networking
  18. 18. internet
  19. 19. photo sharing
  20. 20. instant messaging
  21. 21. radio/TV/print (online)</li></ul>“Talk to me on my terms.”<br />
  22. 22. media consumption<br />Digital reach<br />“Get in my <br />world.”<br />
  23. 23. Media: its not the channel, it’s the delivery<br />Mobile is not TEXT.<br />Mobile is how you receive…<br />… email, text, internet, social media, apps. what’s next? <br />“I get it when I want it.”<br />
  24. 24. digital preference<br />Mobile Vs PC<br />
  25. 25. Mobile: how business gets conducted<br />What’s in your hand?<br />M-commerce<br />Opinion-seeking<br />Product searches<br />Local Search<br />How does B2B apply?<br /><ul><li>location-based search
  26. 26. mobile web site
  27. 27. Yelp for B2B products and services
  28. 28. customer chat service</li></li></ul><li>Lead Generation to Gen Y: Mobile<br />It’s not advertising. <br />It’s engagement.<br /><ul><li>Trade show engagement
  29. 29. Schedule of events
  30. 30. Product demos
  31. 31. Q & A
  32. 32. Sweepstakes/giveaways
  33. 33. Anywhere access to white papers, marketing materials, videos</li></ul>“I am virtually reached.”<br />
  34. 34. be prepared<br />build your strategy today<br />separate the brand from the managers behind it<br />be authentic and consistent<br />embrace a cause<br />harness customer-facing technology<br /> give them a seat at your strategy table<br />
  35. 35. gen Y B2B purchasing behaviors<br />
  36. 36. integrated influences<br /><ul><li>Traditional Tools </li></ul>Word of Mouth<br />TV<br />Print<br />Radio<br />Mail<br />Trade Shows<br />Business Directory (paper)<br /><ul><li>Web2.0/Social Media</li></ul>Web Searches <br />Browse Websites<br />Blogs: Read -- Comment<br />Business Directory (online)<br />Email -- Facebook<br />LinkedIn -- MySpace<br />RSS Feeds -- Twitter<br />Wikipedia -- YouTube<br />14<br />
  37. 37. media usage: a mixture<br />Traditional Tools 4 of 14<br />
  38. 38.
  39. 39. gen Y B2B purchase processes<br />Mixes Offline & Online Media toward Buy Decision<br />Search & Gather<br />Assemble & Narrow<br />Validate & Select<br />It’s Common Sense, Logical, Tried & True<br /> But: Improvised, Comprehensive - Complex, Interactive<br />17<br />
  40. 40. a,b,c’s of B2B purchase process<br />“…surf the web and try to learn more about the product or service, both through…official website and…online reviews and comments…if possible… research… in print media, such as journals and Consumer Reports.”<br />A<br />18<br />
  41. 41. a,b,c’s of B2B purchase process<br /> “…contact each company to narrow... consideration set,learn about their services, and possibly schedule anin-person meeting”<br />B<br />19<br />
  42. 42. a,b,c’s of B2B purchase process<br />“contact businesses who use theproduct or service” and “see whatmy friends have to say about it”<br />C<br />20<br />
  43. 43. wide spectrum: high tech, high touch<br />“I would look online for any info I need. I wouldn't look anywhere else, the Internet's the best place.”<br />“1. Look…listen for new products (TV, magazines, radio, other stores) that would be relevant…2. Talk with customers and listen to their suggestions …requests3. Submit…report of…opportunities within the business4. Corporate makes final decision.”<br />21<br />
  44. 44. social media play emerging roles<br />“…Finally I would goto sites such asTwitter, Facebook,MySpace.”<br />“I would use asearch engine,Google perhaps,MySpace, TV, browse web sites for different content, YouTube, Facebook, via phone or in person.”<br />“…first,…Google, then look it up on Wikipedia. After that…Facebook and MySpace”<br />“First…Twitter becausethat is a site whereyou talk about ideas.” and “…YouTube, Twitter, and Wikipedia …my first destinations.”<br />22<br />
  45. 45. when does traditional happen?<br /><ul><li>Beginning: “…start research by speaking to others w/whom I work, then follow these leads on Web… If…unableto find information on Web…try to find hard-copy information.”
  46. 46. Middle: “… Next,…talk to coworkers and peers in the field to get their experiences and opinions. Lastly,…research product/service in print media”
  47. 47. End: “…first…the Internet…abundance of information. Then…other venues…magazines and such,…find out more about company/product/service… alsotalk to other people.”</li></ul>23<br />
  48. 48. creative, complicated, indirect<br />“I don't know if there would be a specific order, <br />rather… reach out for all available informationand then researchand decide accordingly.”<br />24<br />
  49. 49. search exercise ≠ regular media use<br />
  50. 50. use of mobile devices in info search<br />
  51. 51. perspective and implications<br />searching and browsing sites are where it starts, so…<br />this is a good time to get right with Google<br />A,B,Cs of B2B Buy Process: Multiply Your Presence, Customize<br />A. Search & Gather B. Assemble & Narrow C. Validate & Select<br />Processes Gen Y Will Devise are Complex, Varied, Interactive<br />Buyers will Individualize & Adapt to Tasks at Hand<br />So, Be Multi-Media Active, Watch Social Media andMobile<br />27<br />
  52. 52. what you need to do right now<br />evaluate your communications plan<br />how are you engaging the Millenials?<br />take action<br />segment your marketing approach<br />primary research – it’s all new for everybody<br />don’t wait for your competitors to write the case study<br />4. go mobile<br /> is your web site “mobile?”<br />
  53. 53. Thank you!<br />Dick Strassburger<br />VP, Media & Interactive Strategy<br />Blog: blog.cbdmarketing.com<br />Twitter: twitter.com/strass<br />LinkedIn: linkedin.com/in/dickstrassburger<br />

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