This week, at the swanky Thompson Hotel in Toronto, Nielsen announced it is bringing its social media savvy to the Canadian market.

The Sept. 8 event marked the Canadian launch of NM Incite, a global co-venture between Nielsen and global consulting firm McKinsey & Co.

The business will provide Canadian clients, including media agencies and marketers alike, with social media data measurement tools and consumer insights. The new company, which has already launched in the US, is built on Nielsen’s BuzzMetrics, a real-time market intelligence measurement service. McKinsey is on board to offer consulting on NM Incite product integration for companies as well as marketing, sales, organizational and service operations.

In his keynote speech at the event, Jay Rampuria, VP, sales and client services, NM Incite, told the audience that social media has reached such a saturation point, companies can no longer afford to ignore it.

‘More than 74% of online users have visited a social media website in the last six months,’ he said, noting that Canada is above-average globally in its social media use.

Rampuria shared the results of new Canadian data on social media use, which showed that 68% of online Canadian households use social media, 75% of which use it weekly. Over 25% said they spend six or more hours per week on social media sites.

He also noted that older generations of Canadians are really starting to embrace the medium. Although the dominant demographic is still under 35, 66% of 45- to 54-year-olds said they use social media, as did 47% of seniors.