Company X is now in a relationship with Supplier Y

22 June 2011
While some argue Facebook is reaching tipping point for personal use, social networking for business purposes has some bright days ahead. The latest addition to the long list of Facebook-inspired business tools is New-York start-up BestVendor, a sort of social networking site for buyers and suppliers, designed to help small businesses make “faster, smarter purchasing decisions” using a system of recommendations. The idea is for businesses to rate or slate products/services they have purchased, while being able to see recommendations from other companies and individuals in their network. This is potentially a great idea and I can see how it would appeal to small businesses needing some pointers to good, reliable suppliers. Similarly, this is a good way for smaller suppliers to spread the word about their products/services without having to invest in costly advertising. However, I imagine buyers might have some reservations about rating people they are in business with on a social networking site like this one. Surely, if you’d found an amazing supplier that delivered great goods and helped you achieve value for money, you’d want to keep them for yourself? Or maybe I’m missing the point entirely? If you want to try it for yourself, beta signup is available at www.bestvendor.com. And to check out what’s happening on the SM Facebook page, click here.
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