Biz owners slow on social media uptake

A majority (81%) of Canadian private companies want to grow their businesses. However, many still haven’t adopted social media to do so, says PwC. Read: How to measure social media ROI Despite the desire to invest in mobile and social media, only 13% of CEOs use social media to develop new products. Further, 25% of […]

By Staff | October 23, 2012 | Last updated on October 23, 2012

1 min read

A majority (81%) of Canadian private companies want to grow their businesses. However, many still haven’t adopted social media to do so, says PwC.

Read: How to measure social media ROI

Despite the desire to invest in mobile and social media, only 13% of CEOs use social media to develop new products.

Further, 25% of those surveyed have no plans to invest in mobile technology, and 28% don’t plan to use social media at all.

Read: Social media: Biggest risk is ignoring it

“This is a huge missed opportunity,” says Aayaz Pira, director, management and technology consulting, PwC. “Social media gives consumers a voice to be part of the business and the ability to collaborate with companies to develop the products and services they want.”

Tahir Ayub, PwC’s Canadian private company services leader adds, business owners need to listen to customers because it helps differentiate them from competitors.

Additional findings include: