New data found in a consumer behavior survey conducted by Clever for Real Estate Witch finds Millennials and Gen Z shoppers are extremely susceptible to social media marketing practices with more than 80 percent of these shoppers admitting they made a purchase after seeing an ad on a social media platform.
The company’s survey, which aimed to discover today’s shopping habits and attitudes toward marketing across all generations, found that when it comes to targeting Millennial and Gen Z shoppers, TikTok stars, YouTube streamers and Instagram influencers are extremely effective vehicles for advertising, driving millions of young consumers to make impulse purchases at four times the rate of Baby Boomers.
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Among the leading marketing trends on social media, Clever’s report shows that video ads perform extremely well with Gen Z and Millennials on social media. The researchers of the report draw an important distinction here between TV ads and video ads on social media, finding that while Americans as a whole claim TV ads are the most influential, data shows that social media advertising is more influential in driving people to make a purchase over TV.
Given 52 percent of Gen Z and 48 percent of Millennials — nearly three times more likely than Baby Boomers — have engaged with online video ads in the last year, Clever’s researchers say adding video elements is a very effective tactic for advertisers. Video ads that Americans find funny are consumers’ top choice, finding them to be more memorable. Informative ads were close behind.
Looking specifically at Gen Z consumers, the report finds 66 percent of respondents feel their own generation is the most irresponsible with money with 71 percent also agreeing that Gen Z is the most susceptible generation when it comes to social media ads. And in addition to making impulse purchases prompted by social media, nearly one in five Gen Z respondents say they would submit their information online to an unfamiliar brand if an influencer recommended they do so, compared to 13 percent of Americans overall.
To that end, Gen Z respondents told the company they are “not thrilled with their habit of spending time and money on social media.” More than half (51 percent) of Gen Z also say social media has not been good for society, compared to 40 percent of Millennials and 41 percent of Baby Boomers.
As the Super Bowl approaches with new ads scheduled, Clever’s data shows that Millennials are the generation most likely to watch for the commercials with 33 percent saying they do so. Overall, about 41 percent of Americans say they’re more likely to buy a product advertised during the Super Bowl.