Building a slide deck, pitch, or presentation? Here are the big takeaways:
- An increasingly younger C-suite means vendors need to switch up their pitches to grab attention.
- Compared to older generations, millennials are more drawn to respected brands, personal touches, and detailed pricing information in pitches.
As millennials move into the C-suite, they're bringing a shift in sales tactics, according to new Spiceworks research.
Compared to older generations, younger IT buyers prefer detailed product and pricing information, a personalized message and creative branding, and a recognizable brand in a vendor pitch, Spiceworks found. As buyers get younger, tech vendors may need to adjust their pitches to seal the deal.
CIOs tend to be the youngest C-suite executive, according to Korn Ferry research. However, with an average age of 51 years old, vendors still need to be prepared to target older generations as well.
SEE: Ethics policy: Vendor relationships (Tech Pro Research)
For the Spiceworks survey, which collected responses from 535 IT professionals, millennials were considered those born from 1981 to 1997, Generation X were born 1965 to 1980, and Baby Boomers were born 1946 to 1964.
Gen X prefers relevant products and services more than other generations, while Baby Boomers prefer pitches with a timely solution, the research found.
As for what the generations don't like, Baby Boomers are least likely to prefer pitches about a specific product or that include detailed pricing information, a recognizable brand, or a personalized message. Gen X are less likely to want detailed product specs, the research found.
Younger execs are also more likely to operate online, searching and shopping via search engine, Spiceworks found. Older execs prefer working with a vendor directly via email or phone.
If vendors don't tailor pitches to who is receiving them, they may risk losing connections and sales.
- Special report: IT jobs in 2020: A leader's guide (free PDF) (TechRepublic)
- Tools to help you manage your vendors and suppliers (ZDNet)
- 4 tips for developing a relationship with a new vendor (TechRepublic)
- How to manage vendors in a cloud-first world (ZDNet)
- 5 best practices for managing vendor contracts at SMBs (TechRepublic)
Olivia Krauth is an Education Reporter at Insider Louisville.