MySpace has launched a beta version of its do-it-yourself advertising platform that is aimed at letting individuals and small businesses create their own ads that can be customized to specific users of the social network. The new MyAds service, which MySpace first detailed in November will enable anyone to create customized banner advertisements using MySpace HyperTargeting Technology. HyperTargeting allows advertisers to tailor their ads to users based on their interests and other demographic details noted on their MySpace profiles. The technology uses machine-learning tools to analyse all the informations provided by users, including the background themes they choose for their profiles and the photo they post to their blogs – to identify which products or services a user may be interested in.
According to Jeff Berman, MySpace President of sales and marketing, MyAds is a direct marketers dream providing entrepreneurs with the most accessible, personalized, and targeted advertising toolkit in the market. We ‘re giving better ROI ASAP and in today's economy, that’s a must have. After an ad is created, MySpace reviews to ensure that it meets the sites Terms and then launches the ads. After the ads go live, MySpace also will provide a suite of analytic tools and key performance indicators noting the number of times an ad has been shown, the number of click-through, and the running cost of a campaign, MySpace said. The advertisers are charged only when a user clicks on the ad, as opposed to when an ad is served to a user, according to MySpace.
Michael Arrington, a blogger at TechCrunch, noted that the move by MySpace is part of the effort under way by all networking sites to try to bolster revenue from the massive number of users they have attracted to their sites. The big social networks are still trying to find their ‘Google Moments’ – the point when they find a way to monetize these massive audience they‘ve attracted. Google was just a search engine until they matched it with contextual advertising. MySpace and Facebook need to find their own revenue engine, Arrington added. Still, MySpace and its rival Facebook trail Google in the revenue they generate per visitor, he noted.