In recent years, millennials became the largest segment of the US workforce and now they are increasingly empowered to make purchasing decisions.
When this generation researches and makes purchases, they are strongly predisposed to do business with companies with a clear purpose. And, they are already voting with their corporate wallets. As business people, if we don’t embrace the purpose-driven economy and declare what our organization stands for beyond just profits and results, those same profits and results are at risk.
How big an issue is this?
Turns out the millennial generation is the largest in US history and by 2025 they will represent 75% of the workforce. Wow!
This generation is maturing and taking on leadership positions. In fact, as a substantial recent Sacunas study revealed, “73% of millennials are now involved in b2b product or service purchase decision-making at their companies.” Of this group, 80% said that a vendor’s palpable cause or purpose influences their purchasing decisions.
If you are not already, soon you will be selling to millennials. If your purpose isn’t declared and present in your organization’s culture, you are going to find it much harder, maybe impossible, to sell to a generation that considers not having one a deal breaker.
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