Interesting: I've both been asked to write about Twitter recently and to advise an organisation on the benefits (or otherwise) of using it as part of their communication strategy. The business thinking of using it is still getting to grips with its intranet which has become a rather vast and rather unmanaged repository for lost documents (Sharepoint gone wrong!), and I'm minded to tell them to concentrate on getting that particular platform in order first before latching on to this year's 'must have communication accessory'.
Some organisations are clearly making the most of Twitter - Virgin Media's experience appears good - a great collaborative tool internally, and a way top build advocacy externally, but I still wonder if it has legs as a business application in the long-run. A year ago we were all talking about how Facebook would revolutionise the world and only a year or two before that blogging was the only place to be. In the end these are tools, not solutions in themselves. We need to engage with ever wider, ever more layered audiences, so a social media strategy is a must. But pick a few things and do them well: and be prepared to back the new runner each year - be flexible enough to change horses.