When in doubt, follow the leader. That’s what MySpace seems to be doing with the release of MySpace MyAds, a service that – on the surface – appears to have a great deal in common with another successful ad model, Google AdWords.
Like Google’s ad platform, the new MySpace ad platform allows anyone to establish an account and begin targeting ads to a particular demographic. Unlike Google, however, MySpace allows users to build image-based ads on the fly. What’s more, advertisers will find the targeting options get exceptionally “granular.”
With MyAds, MySpace offers familiar demographics to advertisers interested in using its service. Among the targeting selections are gender, a range of ages from 14 to 65+, geographic targeting for the United States, and a series of highly targeted interests:
Unlike traditional online advertising demographics, however, the MySpace targeting includes some very MySpace-specific options, including “drinking,” “partying,” and professional wrestling:
And this type of granularity – providing a true view into its user base – could be the key to MySpace’s success.
In fact, when announcing the private beta of the service last year, MySpace claimed that this new “hypertargeting” technology would drastically improved online advertising with results “as high as 300% over demographically tageted ads.”
To date, all popular social networking sites have struggled with converting a wealth of users into a sustainable revenue stream. MySpace is no different.
Advertising seems to be the most viable means of doing that. And with the information at its disposal, perhaps no one is better positioned to provide targeted advertising than MySpace.
Will advertisers adopt this “hypertargeted” platform with the same vigor that has catapulted Google to such incredible heights? That remains to be seen. But one thing is for sure, with myAds, MySpace has taken a decided step forward in attempting to drive revenue using its most valuable asset: its users.
