Though it sounds like we're back in 2009, current research shows that there are still plenty of institutional investors under the assumption that social media is a growing, soon-to-be robust category, but not one yet essential to their business. Research also shows that these people are wrong.

NATIONAL Public Relations, a Canadian company, and the AMO network of financial communications agencies teamed up to survey Canadian institutional investors and found that by the majority of those consulted were not so into social networking as business strategy. Fifty-six percent of participants said that they consider social media to be "not yet significant but growing in importance" as a professional tool for investment. It's a weird framing of the sentence, considering 'significant' and 'important' are synonymous. So, Facebook (News - Alert) is becoming important; but it is not important. Who'd have thought these matters would take on such Decartesian twists? Still, you get the point: despite mounting evidence, most investors aren't sold on social media as something they really need to thrive in their field.

Not everyone surveyed was (arguably) so out of the loop. Thirty-seven percent of respondents welcomed social media as an innovation that made sifting through news quicker and more direct, and 33 percent said they found social media sites to serve as decent "heads up," during extreme situations such as proxy fights and takeover bids. A mere 22 per cent said they use Twitter (News - Alert) frequently or very frequently for professional purposes; only 10 percent use Facebook often.  

The oddness of this all is that there's not really anything to lose by checking in with social media. Its how so many people get most of their news in our digital age. The benefits social media brings businesses aren't easily undermined. Many small businesses get themselves on the map by using services like Twitter and Facebook. Furthermore, these are free to all.  

So, if you're one of the investors reading this post that hasn't already seized the social media phenomenon, go forth! Your followers await.