(/publications/engagemillennials/)

enter your email address Subscribe

COMMENTARY

How Millennials Are Shaking Up Retail

Commerce
by Naveen Tewari (/publications/author/6316/naveen-tewari/) , July 11, 2016

Millennials are becoming retailers’ largest demographic in both population size and market
in uence with signi cant buying power due to their constant access to technology. Over
85% of millennials own a smartphone compared to 71% of the total U.S. population, and
their mobile- rst experiences are set to reshape the economy and change the ways in
which consumers trade. Already, a quarter of millennials recently surveyed report 100% of
their online purchases were on smartphones — and marketers in retail are taking note, but
in some cases, not fast enough.

Are Retailers Prepared for the Millennial E ect?

Shopping preferences of millennials are unique and often include a combination of both
online and o ine. So how can retailers win the hearts of millennials? There are many
critical components but seven steps to success include:

1. Customer Journey It’s important to think about the holistic customer experience
throughout the entire journey. Brands should focus on weaving in the journey, which
integrates consumer touch points before, during and after the transaction has been
completed.

2. Seamless Interactions It’s important to provide seamless online and in-store

experiences. Millennials like to converse and interact with retailers across multiple
platforms without disruption, and their expectations of in-store and online interactions are
similar. Most millennials will research options online before heading into a store and they
expect the various channels to complement each other with relevant and consistent
communications, allowing them to easily execute their purchases.

3. Visual E ectiveness and GuidanceVisual e ectiveness is crucial as this will drive the
rst contact and initial impact to consumers. Brands need to think carefully about how they
present product details along with images, emojis, stickers, ads, etc. Personalization is key
to generate loyalty and to help consumers discover the most relevant content, guiding
them along the path to purchase.

4. Device Agnostic Creating a shopping experience which is optimized for any device is key
as millennials are known to shop on a multitude of devices. A mobile-optimized site or a
hybrid app which is responsive and can scale on any device is imperative. Providing a
mobile-optimized checkout process is just as important as the responsive site. Traditional
long checkout process will not resonate well with the tech-savvy millennials.

5. Social SharingMany millennials seek advice online, and enjoy declaring purchases and
opinions through social media. Social media sharing is a key feature and even a necessity
for millennials, providing a social sharing option as a core component of brand marketing
will help drive adoption.

6. Geo-Targeting More than half of the millennial population allows location data on their
mobile phones. The younger generation is more receptive to geo-targeting than any other
demographic as it provides more relevant and contextual o ers at a speci c instance.

7. Loyalty Programs and Coupons Millennials are heavy users of coupons and are always
on the lookout for deals. Apart from coupons, loyalty programs are a major consideration
for retailers to implement to keep them bound to a brand.

The Road Ahead

In order to remain competitive in the retail landscape, retailers will need to cater to the
spending habits and tendencies of millennials. Accenture estimates that millennials in the
U.S. spend approximately $600 billion a year, a number that will rise to $1.4 trillion, or 30%
of total retail sales volume, by 2020. Born in the unique world of technology disruptions,
this mobile- rst generation has distinct media and shopping habits and it is poised to
create a tidal shift in the retail industry. Their access to mobile devices, impulse buying
behavior, coupled with purchasing power, greatly in uence what, how, and where they
purchase.

Retailers have a golden opportunity to tap into these patterns by understanding millennial
shopping habits and by focusing their e orts on customer retention. Brands and retailers
who fail to capture the millennial attention and loyalty today will be missing out on this
evident trend and could impact business success in the near future.

1 comment about "How Millennials Are Shaking Up Retail Commerce".

Check to receive email when comments are posted.

Scott Allan (/people/ScottDAllan/) from Pure Oxygen Labs, July 12, 2016 at 10:57 a.m.
This is a great article that highlights both the expectations of millenials and the greatest challenges that marketers at
retailers face. One big mistake that retailers are still making today is sending loyal app users to the mobile website via
their multi-channel marketing e orts.  Marketing links should at least o er consumers - especially millenials - a choice
between app and web at any given mobile moment. This can be done today in ways that don't require heavy technical
requirements. More info: http://urlgeni.us/1glm

Reply ()

Comment

ABOUT THE AUTHOR

NAVEEN TEWARI (/publications/author/6316/naveen-tewari/), CEO and co-founder, InMobi

 (/publications/engagemillennials/)

enter your email address Subscribe

COMMENTARY

Marketing To Millennials: Promoting

Industry, Not Individuals
by Betsy Davis (/publications/author/6962/betsy-davis/) , Columnist, September 27, 2017

Appealing to the decision-makers of tomorrow, the millennials, is an increasingly

complicated challenge for marketers, particularly those working across B2B businesses.

According to research, 84% of millennials

(https://blog.hubspot.com/marketing/marketing-to-millennials) do not trust
traditional advertising. Given that they have matured at a time when it’s possible to simply
fast-forward through television ads, and they are more likely to see sponsored social media
posts on their phone than notice billboard advertisements, this is unsurprising. Millennials
have grown up surrounded by innovative technologies—also making them much harder to
impress—so how can B2B businesses reach these decision-makers of tomorrow?

The ‘B2B consumer’

In 2017, the consumer is king. This factor has also impacted B2B marketing, with marketers
now tasked with appealing to the individual decision makers in businesses; in essence, the
“B2B consumer.” Marketing has entered the era of specialization and niche messaging; a
single marketing message is no longer enough. Adding further complication, the
generations rising up the ranks to become decision makers know which marketing
(https://blog.hubspot.com/marketing/marketing-to-millennials) appeals to them; that
is, marketing that genuinely values their interest, and not just their money.

Capturing the attention of B2B consumers demands that organizations create stories that
align themselves with industry innovation. The insurance industry
(https://www.iif.com/system/ les/32370132_insurance_innovation_report_2016.pdf)
has managed to do this particularly well with smart devices such as telematics and
wearables, despite not typically being considered an early adopter of new technologies.
This tactic is advantageous in industries that focus on the discovery and development of
something new such as pharmaceuticals, where this means a new drug or medical device.
For these industries, it’s important to align the company with broader innovation by
promoting regular breakthroughs, as a part of a B2B consumer marketing approach.

Digital natives, and other B2B consumers, don’t want to be bombarded with marketing
buzzwords, they want stories that engage them. Accordingly, B2B marketers should favor a
more story-driven approach spread across a variety of media. For example, internet video
tra c is predicted to account for 82%
(http://www.cisco.com/c/en/us/solutions/collateral/service-provider/visual-
networking-index-vni/complete-white-paper-c11-481360.html#_Toc484531492) of all
consumer internet tra c by 2021. Whereas video it is not currently heavily used by B2B
marketers, it is vital that they develop a narrative-focused, immersive marketing strategy
using platforms like video to their advantage.

Marketing pharmaceutical innovation

Individual “big” pharma businesses have long been focused on their own individual
successes. However, many are starting to understand the need to promote the progress of
the whole industry to their B2B consumers. But in targeting a millennial audience, to truly
di erentiate, then businesses need to actively contribute to moving innovation forward
within the industry.

Currently, with big pharma continuing to labor under a productivity de cit — 45% of its
total forecast revenue
(https://www2.deloitte.com/content/dam/Deloitte/uk/Documents/life-sciences-
health-care/deloitte-uk-measuring-the-return-pharma-report-2016.pdf) comes from
external sources — fostering industry innovation is crucial. Our company is playing a part in
steering industry development through a start-up project. This virtual hub o ers a platform
to the most innovate start-ups selected from over 100 applicants to promote their own
innovative technologies to the pharmaceutical industry while creating inspiring and
insightful stories that can appeal to millennial B2B consumers.

The new face of industry

With businesses battling to meet customer expectations and overtake competitors,

industries are progressing at breakneck speed. At the same time, organizations are trying
to maintain their originality in an ever-more technologically advanced world. While
innovation is the way to move forward, there is a growing responsibility to show the rest of
your industry how you innovate, and encourage them to do the same. The industry needs
to learn how to keep up now that the context of marketing is changing.

Comment

ABOUT THE AUTHOR

BETSY DAVIS (/publications/author/6962/betsy-davis/), senior strategic marketing manager, Elsevier’s R&D

Solutions

(/publications/engagemillennials/)

enter your email address Subscribe

COMMENTARY
B2B Marketers Take Notice: The
Millennials Are Here
by Aaron Dun (/publications/author/6621/aaron-dun/) , Columnist, September 22, 2017

We hear a lot about Millennials today: they’re the largest living generation, perhaps they’re
entitled, they might be ruining retail, etc. Whether it’s ideologically or behaviorally, there is
a sense that Millennials are di erent from previous generations — and that di erence
doesn’t end in the B2C universe.

Today, 13% of Millennials are making B2B buying decisions, and an additional 28% are
in uencing that decision-making, according to new research
(https://www.mediapost.com/publications/article/307100/whos-in-charge-here.html).

Not only do Millennials have substantial pull on B2B buying committees, their buying
behaviors are in direct contrast with some of the most tried-and-true B2B marketing and
sales tactics in the playbook.

So what do marketers need to do di erently to meet the needs of this rising generation of
B2B buyers? 

Let prospects engage on their terms. 

Millennial buyers prefer to engage with sales much later in the buying process than older
generations. In fact, 86% of Millennials prefer not to engage sales until the middle of their
buying process or even later, whereas other generations engage sales much earlier. 

This preference of Millennial “sales avoiders” suggests a clear shift from the traditional
sales journey where prospects are skillfully led through the buying process by a
salesperson. In fact, interaction from sales before before Millennial buyers seek it out can
be o -putting for prospects who’d rather explore various solutions on their own rst. Often
the primary researcher on buying committees, Millennials want to engage with you only
when they’re ready.

Authenticity matters.

When looking at vendor solutions, Millennial buyers tend to prioritize company values and
community engagement over product features and details. These buyers also place a high
value on personal relationships with vendors, or solutions referred to them through their
personal networks, more so than other generations. 

This means that your nod to company values on your website’s “About” page may not be
enough — instead, buyers want to see your organization demonstrating your commitment
to values not just through content and marketing e orts, but through everything you do
across the company. 

Ditch the old marketing and sales playbook.

The “old reliable” B2B marketing practice of using lead-gated white papers to build top of
the funnel interest doesn’t resonate with Millennials. And it’s not just them — across all
generations white papers ranked as the least useful type of content early in the research
process. 
This research also prompted buyers to share what they hate about sales and marketing,
and the frustration surrounding these tactics was clear: “Just because I download
something doesn't mean I want a call. I will reach out if I need a solution from you.” All
buyers — not just Millennials — want to be able to learn more about vendor solutions
without running the risk of being immediately engaged with a salesperson. 

B2B marketing and sales teams need to abandon tired, traditional B2B marketing tactics in
favor of new strategies that meet buyers from di erent generations with content and
processes that speak to their unique buying preferences. Focusing on creating engaging,
valuable content that guides prospects down the funnel on their terms, rather than forcing
them down a linear path, is key to e ectively reaching not just Millennials, but all
generations on the new B2B buying committee. 

1 comment about "B2B Marketers Take Notice: The Millennials Are Here".
Check to receive email when comments are posted.

Penelope Wolfe (/people/PennyWolfe/) from Penny Wolfe Creative Services, September 23, 2017 at 12:35 a.m.
I strongly agree. And, don't call me.

Reply ()

Comment

ABOUT THE AUTHOR

AARON DUN (/publications/author/6621/aaron-dun/), senior vice president of marketing , SnapApp

MORE FROM ENGAGE:MILLENNIALS

Marketing To Millennials: Promoting Industry, Not Individuals (/publications/article/307902/marketing-to-

millennials-promoting-industry-not.html)

B2B Marketers Take Notice: The Millennials Are Here (/publications/article/307696/b2b-marketers-take-notice-

the-millennials-are-her.html)

We Got The Power: How Millennials Are Driving Consumer-First Experiences (/publications/article/307542/we-
got-the-power-how-millennials-are-driving-cons.html)

42% of Millennials Are Multicultural (/publications/article/306850/42-of-millennials-are-multicultural.html)

Why Are Hispanic Millennials Streaming More Spanish-language Content? (/publications/article/305491/why-are-

hispanic-millennials-streaming-more-spanis.html)

Discover Our Publications

‹ Focusing on the art, craft and science of digital media, advertising and marketing
(/publications/digital-news-daily/) ›
Must-read daily news for media planning and sales professionals.
(/publications/mediadailynews/)

Must-read daily news for brand, product, service marketing execs.

(/publications/marketing-daily/)

About MediaPost (/about/) MediaKit (/mediakit/)

Contact Editorial (/publications/masthead/) RSS Feeds (/publications/feeds/)
Sitemap (/sitemap/) Privacy/Terms & Conditions (/privacy/)

©2018 MediaPost Communications. All rights reserved.

1460 Broadway, New York, NY 10036
tel. 212-204-2000, fax 917-591-3261, feedback@mediapost.com
(mailto:feedback@mediapost.com)   Google+
(https://plus.google.com/110488724564818521433)

All content published by MediaPost is determined by our editors 100% in the interest of our
readers ... independent of advertising, sponsorships or other considerations.