Twitter...The real cost . . . and benefit (?)

It has been reported today that social networking sites like Twitter are costing UK companies around £1.38bn every year in lost productivity. It seems that social networking sites are becoming ever more popular and therefore the so called "productivity black hole" is likely to get even bigger. 

Until a few weeks ago I was quite dismissive about Twitter but since talking to an internet marketing expert I have had my eyes opened. I thought that Twitter was for me to comment on things I was doing when in fact by following news providers such as; the BBC, Guardian Business, Taxation, Accounting WEB, Accountancy, Angels Den, IFA Life and E Consultancy I can quickly review relevant news in my sector easily from my desk or i phone! 

For me this saves a huge amount of time and helps me keep up to date and ahead of the game. My next challenge is to persuade our compliance team that Twitter is relevant CPD! 

Twitter now also features in my social networking strategy. As my blog becomes more established I am intending to use it to announce daily feed and news items just like the people I follow.

I guess the dark side of Twitter is as reported with people spending time Tweeting and reading other peoples Tweets. Personally I think that whilst business owners should manage their use they should also look to embrace Twitter and other social networking media and recognise how they can form part of customer and employee engagement. Social Networking is here to stay and it's going to become more important in the commercial world.