For those of us who are swept up in the wave of Facebook’s exponential growth it’s easy to think of MySpace as a thing of the past. But has MySpace truly jumped the shark or does it still have some bite left in it? And more importantly should your social media strategy and your online promotion strategy including spending on MySpace? According to a March ’09 Nielsen study Facebook’s year over year change in active reach as of December 2008 was 168% while MySpace’s was -3%. So clearly Facebook has momentum on its side. But is MySpace done? The answer is a resounding “probably not.” With a global unique audience of 81 million to Facebook’s 108 million MySpace is no small player. And MySpace’s 2008 ad revenue was $1 billion crushing Facebook’s $300 million. So it seems that marketers are not giving up on MySpace as part of their social media strategy just yet. MySpace can still be an important component of a comprehensive online promotion strategy.
Part of the large ad spend on MySpace is due to MySpace historically offering better ad targeting capabilities. Also MySpace’s users skew younger than Facebook’s and are more focused on music and entertainment when using MySpace. This means that if you’re doing a campaign or online promotion strategy targeting younger audiences or if you’re doing anything in the entertainment sector you can’t ignore MySpace in your go to market strategy.
So don’t leave MySpace out of your promotions planning without first considering it in the context of your go to market strategy. Are you targeting a younger audience? Is your product or service related to music movies or other areas of the entertainment sector? Does your brand or company already have a following on MySpace? If so you should consider MySpace as an important tool. If not keep an eye on MySpace and remember: it’s not dead yet!
AlterSeekers is a brand promotions agency in New York focusing on promotions consulting and planning web strategy social media strategy (including Facebook strategy) go to market strategy internet consulting and overall strategic planning. For more information see www.alterseekers.com.