MySpace Launches Another Social Networking Ad Platform
In case you didn’t know, MySpace launched their DIY (Do It Yourself) ad platform. Check out this CNET article for the details. And, in the event you don’t like to read, here’s a condensed screenshot:
Three Reasons MySpace’s New Ad Platform is Going to Fail:
1) Like FaceBook, the MySpace ROI Will Be Dismal:
The ROI (Return on Investment) will not be there. Advertisers are going to kick in a lot of money and get very little out of it. Why? Two considerations to take into account:
2) Targeting the Pre-Pubescent and Immature (a.k.a. No Money of Their Own)
MySpace, ideally, should be used for advertisers shooting for 13-21. That’s right, you’re targeting the pre-pubescent and the immature. They have very little money of their own to spend. And, that’s ok. That’s your niche. They also have a very high degree of “banner blindness”, that is, they’ve trained themselves to ignore ads and focus on content which matters to them.
a) The MySpace Layout:
The MySpace layout is a complete cluster. It’s completely scrambled eggs. Users are lucky to distinguish between important things on the page, let alone advertising. They might switch over to a “new” layout like FaceBook, where it shapes and prunes the ads from the FaceBook content, but only until advertisers start to complain about their ROI on these ads. And, even then, it won’t be enough to bring the advertisers back.
3) ROI on Social Networking is a Myth
And, I couldn’t agree more with CommunityMGR: if you’re a corporation looking to use social media, then you should be using social media/social networking sites for BRAND MANAGEMENT and sculpting BRAND REPUTATION. And, as James points out, that is the true ROI: keeping your brand image and reputation exactly as you need it to be with consumers. There’s no price you can pay for that, and in the long run that’s truly an ROI multiplier.
So, before you dive head first into these ad programs offered by your “favorite” social networks, ask yourself what it is that you really want to accomplish. Because if you really want ROI, then you should look elsewhere.