While organizations strive to leverage the vast information generated daily from social media platforms and both decision makers and consultants are keen to identify and exploit this information’s value, there has been little research into social media in the business context. Social media are diverse, varying in scope and functionality, this diversity entailing a complex of attributes and characteristics, resulting in confusion for both researchers and organizations. Taxonomies are important precursors in emerging fields and are foundational for rigorous theory building. Though aspects of social media have been studied from various discipline perspectives, this work has been largely descriptive. Thus, while the need for a rigorous taxonomy of social media is strong, previous efforts to classify social media suffer limitations – e.g. lack of a systematic taxonomic method, overreliance on intuition, disregard for the users’ perspective, and inadequate consideration of purpose. Thus, this study was mainly initiated by the overarching question “How can social media in the business context be usefully classified?” In order to address this gap, the current paper proposes a systematic method for developing a taxonomy appropriate to study social media in organizations context, combining Nickerson et al,’s (2012) IS taxonomy building guidelines and a Repertory grid (RepGrid) approach.