In the paradigm of open innovation it is recognized that valuable innovation-related knowledge is being increasingly widely distributed to various actors, organizations and communities. Social media can provide novel and useful ways of interacting and collaborating in innovation, likewise for creating new information and knowledge about customers for innovations. These have not so far been much investigated because of the novelty of social media concepts and approaches. Furthermore, the opportunities of social media are not yet well understood in the contexts of innovation and customer interaction, and importantly, while the business-to-consumer sector standpoint has been more researched and understood, the business-to-business sector standpoint has been very little studied in the above contexts. With the help of a literature review and a survey in Finnish companies, we studied the current situation regarding the opportunities of social media in facilitating customer interaction in the innovation process.