How to Sell to Millennials - VR Business Sales Blog

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Monday, September 28, 2015

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Move over Baby Boomers. The next market business brokers should be paying attention to is Millennials, whom are defined as being between ages 18 to 34 in 2015.

There are many misconceptions about this generation, but in reality, Millennials are the future business owners of America.

The Power of the Millennial Generation

The numbers are pretty powerful:

  • Each day, more than 10,000 people turn 21
  • Millennials currently represent 25% of the population
  • This year, Millennials are expected to spend $2.45 trillion.
  • By 2018, that number jumps to $3.4 trillion and exceeds the amount spent by Baby Boomers, who are becoming more cautious in their retirement age.

Millennials are a powerhouse generation. They are digitally-engaged, which means they are influential beyond their own purchasing power. But they also have the reputation of being lazy, spoiled and entitled.

Not necessarily true, according to a University of Wisconsin study that found that 85 percent of Millennials were either working or in school.

And with the rising cost of education, Millennials are faced with economic challenges not seen before in recent times. A 2014 Pew Research Center Survey revealed that “Millennials are the first in the modern era to have higher levels of student loan debt, poverty and unemployment, and lower levels of wealth and personal income than their two immediate predecessor generations had at the same age.”

What Millennials Care About

In order to successfully market a business to Millennials, it’s important to understand what is important to them. Millennials seek to find balance between work and play. They have grown up in a world where healthy eating and fitness are the norm.

Millennials have a desire to engage with brands they love. They are obsessed with technology and feel free to voice their feedback and opinions via social media. This ability to spread the word farther and faster makes them especially influential in the business world.

So, how do you match your business pitch so that millennials will care about it?

1. Understand their Motivation

We’ve just listed what tops the list for millennial motivation, so incorporate these into your marketing and selling. Have a business that will allow the owner to achieve a balanced life of paying the bills and happiness? It’s likely a good match for a Millennial. Know about a business that could grow with the development of new products and services? Millennials love to create and have a voice, so this type of business could be perfect for an owner who wants to be fully involved.

2. Be Transparent

Millennials have grown up in an age of transparency, and can take to Google to verify any claim about a business. So, make sure you are absolutely authentic and truthful in your business dealings with Millennials. They don’t like to be sold to, so work to establish a personal relationship. Keep in mind that Millennials are often skeptics and may not necessarily trust your word. They will need to do their own due diligence on any possible business deal.

3. Embrace Technology

Millennials consider their time very valuable, so they are always searching for ways to make life efficient and convenient, especially through technology. They are always “tapped in” as verified from research from social-influence marketing platform Crowdtap that revealed individuals ages 18 to 36 spend almost 18 hours a day with different types of media. That means business brokers must communicate in ways Millennials prefer. They are more apt to choose a quick email with resources they can research over a lengthy in-person business meeting.

Millennials + Entrepreneurship = Match

Since Millennials seek a flexible schedule, entrepreneurship is a natural fit. In fact, according to UNC Kenan-Flagler Business School, 92% believe that entrepreneurship education is vital to the new economy. Nearly one-third started a business in college and 35% have started a business on the side. Given that entrepreneur spirit, business brokers just need to find the right business to pitch to their prospective Millennial buyers.

This article was contributed by, the market-leading directory of business opportunities from online media group Dynamis.


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