The Blog on Branding

Resurrecting MySpace: How MySpace Can Fight Off Facebook

Remember whenever you felt special that Tila Tequila accepted your friend request on MySpace? Just a few years back, MySpace was the dominant social medium helping to usher in our current online culture. Eventually, Facebook overthrew MySpace to be top dog, as Facebook currently boasts over 200 million users. As Branders, how can we monetize the 200 million Facebook addicts into consistent consumers? And can MySpace fight back?

“How great did you feel when Tila Tequila accepted you on MySpace?!”

Read on to find out!

• Targeted Advertising: How does Facebook know I’ve gained weight?
• Click, Click, Buy
• Making MySpace Matter
• A Shot At Love. Or Success, Anyway.

Targeted Advertising: How does Facebook know I’ve gained weight?

For those that don’t know: Facebook currently uses your personal information for advertisers to personally target you with specific advertisements. If you put in information that says you are a middle-aged single woman, you’re more likely to get advertisements about weight loss and finding Mr. Right.

What does that mean? It means that the advertisements we get on Facebook should be things we want to buy. While this may be true, Internet users have gotten exceptionally good at ignoring advertisements on websites.

“Facebook uses your personal info to target you with ads…”

Click, Click, Buy

Though our demographics might give Facebook a general idea, it would never be able to know if I’m yearning for a gallon of Ben and Jerry’s or need to visit the gym. Because of this, advertising is more than just making sure that the advertisement is relevant to us, but that it’s well-timed. Ben Parr, writing for Mashable, tells us that its about both relevancy and timing.

How can Facebook tell when we want something new? Whenever we tell them “what’s on our mind” with new status updates or when we edit our profile. This added information could make better targeted advertisements, allowing advertisers to cash in on our new favorite fads. This may be a part of Facebook’s new strategy as it has adopted a new platform, which seems eeriely close to Twitter.

Making MySpace Matter

Though Facebook is the current industry leader, all websites need to rethink how they are advertising to their consumers. One idea for MySpace to regain its dominance? A niche. Fellow Brander, Carrie Milford, writes about developing a specific niche for companies to be successful, and this may be the best strategy for MySpace. What niche does MySpace have over Facebook? Simple: 13 to 34 year olds and music.

Over half of MySpace’s market is between the ages of 13 to 34 years old. Additionally, MySpace has become a breeding ground for local brands to put their music online through artist pages. (Let’s be honest: who doesn’t have at least one friend with a MySpace artist page?) Seeking to capitalize on this, MySpace developed MySpace Music, a service that was supposed to revolutionize online music use.

However, MySpace Music had some difficulty getting used by MySpacers, mainly because it was tough to find and difficult to use. If MySpace really wants to develop a unique niche, they are going to need to cash in on their audience and develop a product that works well for its users.

“MySpace needs to give this niche-finding one more shot!”

A Shot At Love. Or Success, Anyway.

If MySpace is to regain its dominance, what must it do? Simple:

• Capitalize on its pre-existing niches, of younger kids and music.
• Adopt an advertising system that gets us to click and purchase products by using our status updates.

Though Facebook may not need to start sweating just yet, MySpace may be able to regain some of its lost ground. Besides, can our world survive without Tila Tequila and easy access to Miley Cyrus discussions? Maybe. But, that’s not a world in which I want to live.

James Harrell James Harrell is still friends with Tila Tequila. Even if she won’t return his calls. Want content written for your Brand that shows up #1 on Search Engines and brings you new customers? Contact us.