Do you know MySpace? It’s an extremely popular social friendship site frequented by a lot of teens from around the world, in particular the USA. Rupert Murdoch’s News Corp bought MySpace when it purchased it’s parent organisation for a whopping $580 million back in July 2005.
MySpace has a high value because of it’s massive userbase, which in turn provides a potentially rich source of advertising income (let’s just say its $580 mil purchase price included a lot of money for future potential). Given the audience is a young demographic it’s a very lucrative market for advertisers. Teens are notoriously hard to reach because they constantly change opinion and their tastes fluctuate frequently (do teenagers still watch TV?).
While most people reading this blog won’t ever consider buying adspace on MySpace the potential to use it to market your business should not be overlooked. I recently heard that bands have used MySpace as a marketing vehicle to increase their exposure. Thanks to the sheer volume of members and active users, if a music single (mp3) goes viral just within the MySpace…err…space, it can mean big things for the band. Why not apply this technique to your business?
Not every business is going to suit the MySpace demographics, but if yours does then take a few seconds to think about the potential if you can pull off a successful campaign. If you can “crack the cool” and get something popular within MySpace that also promotes your business, the publicity payoff could be monumental, and (in my opinion) enough to launch a start-up.
Blog marketing is popular because it’s cheap, has broad scope and is effective as an awareness builder without being obtrusive like “blast” advertising. Web communities like MySpace may provide similar marketing benefits if you can make it work for your business. There is no secret formula, and just like any viral marketing campaign it can be quite a hit and miss process and certainly not an exact science.
It could be as simple as creating a widget or a song, or a video or an image and attempt to “infect” the MySpace community with it. I’m sure if a consultant specialized in MySpace marketing and of course achieved results, their services would be in high demand (anyone out there?). A marketer who knows how to utilize any of the current social software services for generating publicity and can consistently bring in results has a very cutting edge business opportunity, one that I expect faces very little competition currently (maybe because it’s not possible to do it consistently).
If anyone has attempted to use MySpace.com to market their business I’d love to hear about it. Please leave a comment.