If you haven't taken MySpace and its ilk as serious marketing channels, it's probably time to reconsider. MySpace will generate about $180 million in ad revenue this year, not bad for a site where the content is created by users, of which there are about 6 million new each month. The volume is huge, the page views are huge, the traffic, the draw, the stickiness and the hook are all huge.
Of course it's hard to get beyond the motivation of most MySpace users. I've spent some time on the site and the motivation seems to be limited to broadcasting personal beliefs and looking for dates. But I'm still jumping in. Starting next month I'll be running an ad campaign on MySpace.
My marketing sense tells me however, that a new type of media--social networking--must require a new type of advertising model. That is, banner ad is probably just the beginning of the evolution we'll see in using social networking for marketing.
I agree that for some there is some great potential with sites like MySpace.
For now though I think it won't be worth too much unless your targeted audience is teens or young adults.
Other than that if you're a musician or your product is related to the video, audio and photo realm, there are possibilities for getting returns in the short-term.
Other than these areas I'm not so sure it's worth the time and money; at least at this point in time.
Posted by: Gary Bourgeault (thealphamarketer.com) | July 25, 2006 at 12:49 AM
on the other hand, it's always good to spot the places that will expand to fill larger markets and get in early to establish quite a firm place before the rest of us catch up :)
Posted by: Natalie Ferguson | July 26, 2006 at 06:30 PM