Social Media is a Waste of Time - But Can't be Ignored

Ninety per cent of large and mid-sized companies in Canada are using social media in their marketing, but it seems be supported from the bottom and not the top.

According to a recent survey by Leger on behalf of SAS, a business analysis software company, one in 10 senior executives believe social media is a waste of time and a passing fancy.

Twenty four per cent of respondents believe that Facebook, Twitter, MySpace and other social media options have no impact on their business at all, yet two in three won't ignore the power of the online community, and are consistently monitoring to see what people are saying about them.

As well, the CEO and the director of communications are the company's main decision makers when it comes to directing company policy in regards to social media. The survey revealed that despite the use of social media, on average almost 43 per cent of respondents believe it will play only a limited role in their marketing plan for the corporate brand.

Respondents in Saskatchewan and Manitoba are the most skeptical about the world of social media, while Ontario companies are the most active and positive about the online community. Public companies are generally more active in social media than private companies across the country and large companies are more focused on social media than mid-sized companies.