Some recent studies have shed new light on the driving forces behind the buying decisions of Gen Y. According to a whitepaper by Sitel, just 29 percent of Gen Y is influenced by what their friends “like” on social media, and another report, by L2, reveals that 63 percent of affluent Gen Y consumers will engage with a brand on social media. Dan Schawbel, a managing partner of Gen Y researchers Millennial Branding, takes a look at the studies to suggest effective marketing strategies.