Jim Younkin of Powerword:Gold on his great Livestreams about 1:26:00 in mentions this blog when he was looking for an addon called FriendsShare Resurrecton.
I use this addon as part of my glyph market process to keep an eye on my competitors - so, worth a recap on what it does.
FriendsShare Resurrection is an Addon that lets you keep the same friends list across your characters on a server.
If you add or remove a friend then that friend will be added or removed on your other characters the next time you log onto them.
Hence, it makes sure all your characters automatically have the same friends which is very useful, indeed required, if you want to determine if your competitors are online and gives you an idea where they are and what they do whilst they are online.
When some of your friends/competitors leave WoW you will get the notice “player not found” and in which case you enter /friendsshare rebuild only once and your list is rebuilt on all your characters when you log onto them.
Jim Younkin's livestreams can be found on YouTube or embedded on Powerword:Gold