Social Media

Twitter is a must. Everyone knows it's important but those that know why seem to be few and far between. Purchasing Insight logoWe get the ordinary social media. People can engage on-line with friends, colleagues - even strangers with a common interest. And it not just fun - it's a really useful tool to mobilise people whether that's for a spontaneous party in Time Square or a political rally  in Tunisia. We get celebrity twitter too. It is so easy to communicate to eager fans and keep them engaged whether that's with serious commentary on the current affairs or simply feeding them celebrity tittle  tattle. But what about corporate twitter? Is it really that important to corporates and if it is - what should businesses be doing about it?

There's an old magic trick that I am sure everyone is familiar with. The magician approaches a fully laid dining table with full place settings including wine, wine glasses, condiments and a small vase with a flower in it. He takes hold of the table cloth. As quick as a flash he tugs at the cloth removing it from under the crockery and glassware without any of it moving save a slight rattle. Well, I have a tip for everyone. Don't attempt this trick - especially if your delivering a business briefing over breakfast at the Ritz hotel in London to the a select group of captains of industry. Believe me - I speak from personal experience - it's not big and it's not clever. There was something very memorable about that breakfast briefing in 1998. It was the look of absolute horror on the face of the CEO of one of the biggest retail groups in the UK - not at the silly icebreaker with the table cloth - it was the prediction that consumers would, within 10 years, be doing their grocery shopping on-line.

You get social media - I can tell because you're using it now. And for those professional people who still don't get it, they need to catch up soon. Now that Google has entered the fray with Google+, even the die hard cynics are going to realize it's importance. But knowing it's important doesn't mean you understand it and not understanding social media in the corporate world can lead to anything from embarrassment to disaster. So what are the worst mistakes you can make with corporate social media? We've compiled a short list based on real mistakes that real corporates are making today.

There are two types of people. Those who get twitter and those who don't. It's genetic. You may or may not get why it’s important to purchasing professionals but whether you are a social networker or not there are some extremely valuable lessons to be learned from the twittersphere and one lesson in particular that some of you are not going to like.

Charles Dominick - nextlevelpurchasing.com - recently published his top twenty online resources for procurement pros. It's an interesting list, ordered by Alexa ranking (notoriously unreliable but as a relative rank guide, there or there abouts). There's the obvious resources that you'd expect to be well ranked such as Supply Chain Management Review and Supply Management and there's no surprise to see Spend Matters and Peter Smith's  Spend Matters UK up there with Procurement Leaders. But what I found particularly interesting is the specialist niche resources that are exerting an influence.