Proudly serving the industry for which it was named for more than 50 years, Outdoor Power Equipment provides dealers who sell and service outdoor power equipment with valuable information to succeed in a competitive market.
Issue link: http://read.dmtmag.com/i/114021
COVER STORY By Carissa Gingras Next-gen OPE users: Three sales strategies when selling to Millennials B y 2030, the Millennial generation — individuals born between 1977 and 1995 — will account for a third of all homeowners. This group, also known as Gen Yers, is currently responsible for $200 billion in annual spending power. If you thought the 78-million Baby Boomers were important to your business, keep this mind: Millennials will outnumber Baby Boomers by nearly 20 million, and they are on track to outspend Baby Boomers by the year 2017. These younger consumers are said to be the most highly educated, tech-savvy and diverse demographic to date. When it comes to buying products or services, they have high expectations — of the products, the sales outlets, and their relationships with dealers and service centers. To drive long-term brand loyalty, forwardthinking companies need to proactively engage with this audience through more relevant sales conversations, a broader spectrum of communication channels, and more differentiating marketing messaging. Swaying a Millennial to go from prospect to owner — especially with larger-ticket items like outdoor power equipment — requires a deeper understanding of the audience. This group has specific requirements from both the products and the brands they purchase. And the tone of that communication needs to resonate with them. Some things Millennials look for from a brand include the following: • Authenticity: This younger consumer has grown up in a world of instant communication and sensationalized media. From reality shows about baby beauty pageants, to photo-shopped news stories, to hacked Twitter accounts, Gen Yers are skeptical of what they see and experience. So when they become responsible homeowners, they are looking to make the right choices for their home. And, they are particularly sensitive to ensuring the brands they choose are genuine. If the engine on a piece of outdoor power equipment states that it's the quietest in its class, or that it will start in one or two pulls, it's going to have to deliver on those promises. 14 • Longevity: Given the recession's role in forcing many strong companies out of business, consumers are more wary of buying into any brand. Consumers are seeking goods from companies that have a history of long-term stability, backed by years of expertise, proven reputation and reliability, and most importantly, the wherewithal to endure whatever the future may bring. • Want to be heard: It's a group filled with a collection of different attitudes, each with its own motivations and preferences. They want their opinions and feedback to be heard and respected. Speaking their language, and listening to their needs and wants, is critical to creating a positive experience that's worth coming back for and sharing with others. As the first article in a two-part series on selling and marketing to Millennials, the following will focus on three ways to refine your sales pitch to better connect with and influence this generation. 1) Make the engine matter. In an annual survey of more than 2,000 homeowners and outdoor power equipment owners, Briggs & Stratton found that consumers who have a preference about their engine brand are likely to spend 10-percent more on their lawn mower than those without a preference. However, the Gen Yer homeowner is the least likely to know about the engine on their mower.Therefore, there is an opportunity for dealers to better educate this new-to-the-category consumer in a way that is valuable to both the homeowner and the dealer. When a younger customer walks into the store asking for a recommendation on the best walk-behind mower, dealers have a window of opportunity to include the engine as part of the conversation. The key is to deliver digestible information, such as the fact that the engine and mower work in tandem to get the job done. It's important to talk about an engine's torque as the true indicator of performance, and to talk about how the higher the torque, the stronger the engine. Key talking points for selling outdoor power equipment to the Millennial customer might include the following: OUTDOOR POWER EQUIPMENT Photo courtesy of Consumer Engine Group, Briggs & Stratton Corporation First article in a two-part series www.outdoorpowerequipment.com