Financial & Economic Blog

This week’s WSJ had an article about Twitter. For those who have not Twittered, this is a micro-blog service. The concept is simplicity in itself – in 140 characters of less, you answer one question, “What are you doing?” Twitter then sends your answer to your friends in one of several ways, but SMS to their cell phones is the most prevalent (the other ways are to your Twitter homepage, to your Facebook page, or to your IM service). You choose who to invite as your friends on Twitter, and they confirm they are your friends (this is common in LinkedIn, Facebook, etc…) for them to see your Twitters and for you to get theirs. Some recent Twits I’ve sent and received include:

Person T = Wondering how the webinar went!

Person S = on a webinar.... having fun

Person S = slogging through technorati stats

Person T = Delivering birthday party invitations

Person M = Considering WSJ article on Twitter

Person M = At office - finally. I was starting to like Austin Airport & circling JFK!

Person C = lost in wal-mart

I have only four friends on Twitter, and all are my co-workers. Now why should I care to know what my friends are doing in this level of detail, especially with my co-workers? Having used this rather addictive tool for a month, I wonder if we should continue Twittering each other? Further, will micro-blogging make any inroads at the major financial houses?

To answer my own questions… Of my four co-workers who are my friends on Twitter, I have never met two of them. We talk constantly, and Twitter even more so. I feel I know them better through this interaction, and I sincerely say our work together is more effective because we are friends. Is Twitter helping this friend grow? In small ways yes… I know when my co-worker in Minnesota is working on BSG Alliance stuff or is working her “side job” of being a mother of four. I see the kinds of things my co-worker in New Jersey is researching, and that stretches my thinking about Enterprise 2.0 and its application in Financial Services firms. I know where in the country my co-worker who nominally lives in Austin is…

I don’t see why we should stop Twittering. I do see some challenges. My NJ co-worker Twittered recently “Yikes! Too many company suits on Twitter!! Changes everything!” This was in response to me (a suit for the record) and my boss (a suit in role, but a “jeans” in practice”) joining her circle of Twitterers. I see Twitter as being useful for small teams of people, especially geographically challenged teams, to keep synchronized. It is painless to micro-blog (I simply IM twitter@twitter.com and poof I’ve Twitted). I wonder if Twittering would be too annoying for large teams or across teams. I wonder if you are working on two teams (or more) should you have multiple Twitter IDs or should your Twittergrams go to all the teams at once. The WSJ address this point and gives one of the benefits of Twitter as being your mother and family can keep up with what you do. I have not tried that one, but I know if I did, I’d create two Twitter accounts – work and home.

So should my friends at the Financial Houses Twitter? Why not? I can’t think of an organization who is not striving to improve communications among teams of people.

I just sent this to Twitter from my cell phone, “On train. Finished blog post on Twitter. Will post when home.”