Marketers should take note that adverts on social media now influence 50 per cent of US millennial's buying decisions, according to a new report.
The Deloitte Digital Democracy study found that millennials aged 19-32 are also significantly influenced by social media ads, video game ads, and celebrity/online personality endorsements. More than 50 per cent of millennials now rank social media ads as having a high/medium influence over their buying decisions.
The influence of SMS/text message advertisements had a big increase among millennials this year, rising more than 10 per cent across the age groups.
However, the medium that has the most influence over buying decisions as a whole across the ages 14-69 plus is recommendations from a friend/family at 78 per cent.
The report also found that over one quarter of US consumers currently use ad blocking software which, if it continues to grow, could have a meaningful impact on digital advertising delivery and revenue.
In addition 66 per cent of Millennials aged 19-32 value their time interacting with friends on social media sites as much as their time spent with friends in person.
The survey was fielded by an independent research firm from November 5, 2015 to November 19, 2015, and employed an online methodology among 2,205 US consumers.