Rikess Group Managing and Selling to Gen Y Training Services
It’s Time to get Onboard the Gen Y Wagon
Gen Y are the offspring of Baby Boom children that spans ages 18-32 and tallies over 70,000 million individuals; almost as big as the “baby boomers” themselves. As has often been noted, this group is very different from all the generations that have proceeded it. They present new and real challenges to automobile dealers when it comes to effectively selling and servicing them. Some of the challenges in satisfying their needs include:
- They don’t want to be “sold.” They prefer “information sharing” and won’t accept sales pressure.
- They want their retail shopping experience to mirror their online shopping experience. The internet is their primary shopping method. When they ultimately visit a retail store, they’ve been conditioned to expect a similar shopping experience: transparent, simple, time-sensitive, multiple options, information-rich and total control of the purchase process.
- They expect electronic delivery of pre- and post-purchase communication.
- Affordability is a paramount concern as they aren’t financially secure yet.
- They expect sales consultants to be true product experts and to understand their lifestyle motivations.
- They are heavily influenced by their peer group (think Social Media—e.g. Facebook/ Twitter).
Dealership’s ability to sell to this generation is exacerbated by the fact that most stores have had a woeful time recruiting individuals in their mid-20’s for the last decade or longer. If stores had been effective in recruiting this younger generation they would have at least half or more of their management staff in their mid-30’s today; the average sales manager in most dealership’s today is well into their 40’s or older. This senior group of managers has significant trouble relating to Gen Y especially in areas like questioning authority, hours and working environment. Dealerships that start to change their environment and effectively recruit a younger generation will gain a tremendous competitive advantage as Baby Boomers begin their long ride into the sunset and the predominant customer is part of the Gen Y cohort.
What Our Clients Are Saying
The true value of a meeting or presentation is the residual that is left behind after the speaker is gone. Yesterday my team and I had the pleasure of listening to your Managing Gen Y presentation delivered by both you and Nicole. The information provided was both informative and actionable. Today several steps have been taken to help Paragon connect better with this misunderstood, often maligned, segment of our population. By understanding this generation, we are better able to develop processes and business models that will enable us to be the natural choice for this "next generation" of buyers. As important, and as demonstrated by a head count, the majority of our staff is in the "select" group. Our team really thought that your presentation helped them, to articulate to us, "this is who we are," in doing so you have helped us to connect with our people in a way that is more meaningful than the temporary quick fixes often offered to associates.
As we continue to evolve and innovate it is important for us to also understand.
Thank you for your time, and information; excuse me, I have to go hunt for dinosaurs!
Very truly yours,
Brian Benstock
Paragon Auto Group
Being a product of “Generation Y” I thought that I had myself, and my peers, all figured out. Turns out that we are always learning new things about ourselves and that is exactly what happened to me during Mark Rikess’ “Managing Gen Y” training. Mark Rikess brought marketplace and consumer realities to light for our dealership and advised us on how to handle selling to Generation Y. As Gen Y continues to grow and have more influence on and buying power in the marketplace, it has become even more important that we understand who they are and what they are looking for. Gen Y not only influences their peers but has also had a great impact on the decision making of their parents – the Baby Boomers – another huge chunk of our market. In addition to selling to Gen Y in our marketplace, Mark helped our dealership understand how to retain and engage the Gen Y workforce as it continues to grow. As Gen Y continues to have a greater social influence it is ever so more important that that we understand our consumer. Mark Rikess’ advanced knowledge of Generation Y gave our dealership a competitive advantage as we move to accommodate this up-and-coming population.
Sincerely,
Devon Jordan
Portfolio Manager
Paragon Honda