Over the years in Silicon Valley, I’ve noticed an anachronism: Many cutting-edge startups take an old-fashioned approach to sales. These companies purchase lead lists and open fire, hoping the “spray and pray” strategy converts contacts into fresh customers.
But especially as Millennials overrun markets, collectively possessing more than $200 billion in annual purchasing power by 2017, brands are finding lead lists coming up short. Millennials, the country’s emerging economic guard, are 44 percent more likely than previous generations to permanently disengage with brands that target them in such a fashion.
Lead lists aren’t dead yet — they’re still far too widely used for that — but demographic changes mean bull’s-eyes are getting harder to hit by the year.
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