A survey conducted by Pollfish on behalf of real estate marketing company Clever noted that social media is dominant among millennials, influencer marketing is a must-have strategy and this group is heavily influenced by peers when it comes to shopping.
While Facebook remains the top social media channel to reach the widest possible audience, younger millennials are increasingly leaning toward YouTube and Instagram, the survey found.
There are rising concerns that Facebook’s privacy issues could impact advertisers’ bottom line: 77% of millennials said they’re worried about the company’s use of their personal data, the survey found.
In fact, a Pew study found 26% of adults deleted Facebook from their phones following the Cambridge Analytica breach. Forty-four percent said they did so since then.
Pollfish also found that young adults aged between 18-24 years old are 34% less likely than Baby Boomers and Gen X to purchase a product after viewing a Facebook ad. YouTube and Instagram are becoming the ad platforms and leading more conversions for marketers.
Millennials are 54% more likely than older generations to buy a product or service recommended by a social media influencer such as a YouTuber or Instagram star, Pollfish found. Also, 65% said they’d be more likely to buy a product or service recommended by a friend on social media.
When seeking to engage with millennials, the preferred approach is a mix of funny and informative as the best approach. Funny ads are most likely to resonate with millennials (43%), followed by informative ads (29%), the survey found.
However, 30% of millennials aren’t willing to engage with online ads, leaving 21.3 million of them unaffected or annoyed by them.
Nearly a third of millennials, 15% of who are aged 18-24, said they’d be willing to give up their name, email and phone number in exchange for an informative, downloadable guide or resource.
Website and app appearance are more important to millennials than older generations, Pollfish found. Ninety-two percent of millennial respondents said a website or app’s appearance was important when deciding whether or not to submit their personal information.
Millennials prefer to use their phones when making online purchases, with 58% saying it’s their go-to online shopping device. They’re also 25% more likely than older generations to buy a product or service because of an ad on social media, and 25% more likely to engage with online ads in general.
Seventy-four percent of millennials polled said they’d buy a product or service from a company that supports a cause they believe in.