This paper deals with the question, what impact millenials' generational characteristics do have on the effectiveness of a Social Selling approach of a service company selling to B2B prospects. Research shows a convergence of business-to-consumer (B2C) and business-to-business (B2B) purchasing behaviour. Likewise, managers and employees search for information, check reviews and testimonials of sellers and their products online. To react to these changes, the sales process (SP) must be digitalised to serve the needs of today’s buyers. This transformation is particularly driven by millennials, since this generation forms the major part of today’s workforce . To get attention from millennials, service providers must rethink the traditional SP and use Social Media to respond to changing customer demand and behaviour.
Inhaltsverzeichnis (Table of Contents)
- Introduction
- Sales in the B2B Service Industry
- B2B Sales Process
- Social Media in Sales
- The Concept of Social Selling
- Millennials in B2B Buying
- Characteristics of Millennials
- Social Media Use of Millennial B2B Buyers
- The Impact of Social Selling on B2B Service Businesses
- Opportunities of Social Selling to Millennial B2B Buyers
- Risks of Social Selling to Millennial B2B Buyers
- Conclusion
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This article aims to investigate the effectiveness of social selling (SS) when selling to millennial B2B buyers. It seeks to understand how millennials' generational characteristics impact the effectiveness of a SS approach by service companies. To achieve this, the research question addressed is: "What impact do millennials' generational characteristics have on the effectiveness of a SS approach of a service company selling to B2B prospects?".
- The impact of digitalisation on the B2B sales process.
- The role of social media in B2B sales.
- The concept of social selling.
- Characteristics of millennials and their use of social media.
- The opportunities and risks of social selling for B2B service businesses.
Zusammenfassung der Kapitel (Chapter Summaries)
- Introduction: This chapter highlights the convergence of B2C and B2B purchasing behaviour, emphasizing the need for a digitalised sales process (SP) to meet the demands of today's buyers, particularly millennials. It introduces the concept of social selling (SS) and its potential impact on generational differences.
- Sales in the B2B Service Industry: This chapter discusses how digitalisation and social media (SM) have influenced the traditional sales process (SP). It highlights how SM reduces information asymmetry between sellers and buyers, leading to a condensed SP focused on identifying new business opportunities, persuasion, and relationship management.
- B2B Sales Process: This chapter explores the changes to the traditional SP, outlining its transformation into a three-step process, including identification of sales opportunities, persuasion, and relationship management. It emphasizes the impact of SM on the SP, highlighting the increasing role of buyer initiative.
- Social Media in Sales: This chapter examines the role of SM in sales, emphasizing its advantages for organizations. It discusses how SM platforms like Facebook, Instagram, YouTube, LinkedIn, and Xing are vital for reaching millennial buyers.
- The Concept of Social Selling: This chapter delves into the concept of SS, explaining how it involves leveraging SM to connect with prospects and engage them throughout the sales funnel. It highlights the need for content marketing and SM marketing in SS strategies.
- Millennials in B2B Buying: This chapter focuses on millennials, the dominant demographic in the current workforce. It outlines their characteristics, including their openness to information, reliance on peer opinions, and frequent use of SM. It explores how millennials leverage SM platforms for information gathering and networking.
- The Impact of Social Selling on B2B Service Businesses: This chapter investigates the opportunities and risks associated with SS for B2B service businesses targeting millennials. It explores how SS can be used to reach and engage millennial buyers, while also acknowledging potential risks, such as negative feedback and competition.
Schlüsselwörter (Keywords)
The primary keywords and focus topics of this article include social selling, millennials, B2B service industry, sales process, digitalisation, social media, information asymmetry, generational characteristics, content marketing, and SM marketing. The article also examines the impact of these factors on the effectiveness of SS strategies, highlighting the opportunities and risks associated with targeting millennial B2B buyers.
- Quote paper
- Jasmin Armbruster (Author), 2021, The Social Selling in the B2B Service Industry. Opportunities and Risks, Munich, GRIN Verlag, https://www.grin.com/document/1061002
