How Millennials are Changing the Tech Sales Game for Solution Providers
Love ‘em or hate ‘em the Millennial generation is here to stay. It is impossible to ignore them; we have to hire them, fire them, work alongside them, sell to them and buy from them. According to the Pew Research Center, in 2016 Millennials are ages 19 – 35 and have overtaken Baby Boomers as the largest generation. Millennials are the emerging decision makers in the businesses you are selling to and they are changing the way businesses are buying (or not buying) technology.
There are a lot of sweeping generalities about Millennials (many of them not so favorable) which we will address in a later blog. I believe the way they are changing the game of technology sales can be a huge win for Solution Providers if providers can adapt to it and ride the waves Millennials are creating.
First, you have to accept these three general observations about selling technology to Millennials:
- Millennials don’t want to own technology.
To Millennials, technology is just a tool to get things done. They’ve always had home computers, and there is little novelty in having a computer. Instead, Millennials find value in what technology allows them to accomplish. Technology lets them code faster, seamlessly edit videos, multi-task with dozens of programs or just play a graphics-intensive video game with a few players from around the world.
- Millennials want the latest and greatest.
If Millennials can't quickly accomplish the above tasks because the technology isn't keeping up, the answer is to get new technology so they can. Many times Milliennials will buy new technology long before there is any lag in performance.
- Millennials expect the technology to work.
Millennials have been spoiled with some really great user interfaces and integrations. If something isn’t working they’ll try to figure it out themselves first, and then call somebody for help.
Think about how Millennials go through cell phones. They know exactly when they can upgrade to a new phone through their service provider, and the wireless company never has to do much selling. Sound like an ideal position for your business?
There are some keys for how Solution Providers can sell technology to Millennails. To benefit from Millennial behaviors, do a combination of the following:
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- monthly payment
- recurring revenue