Yet another way for a social network to monetize itself—MySpace is launching a do-it-yourself ad targeting program. Currently in beta at advertise.myspace.com, the program is designed to help MySpace advertisers promote their business or their music.
The ad program runs on a CPC basis with a minimum $0.25 bid ($25 campaign minimum). The program enables advertisers to target MySpace users based on gender, age, region, city/state, and interests. Naturally, as there’s nothing new under the sun, this brings to mind Facebook’s own ad targeting program. Indeed, this may not be terribly different, other than the fact that MySpace has more users (yes, still).
According to Social Times, the banner ads can be either 728×90 or 300×250 and MySpace provides several templates if you don’t have one of your own. The interest-based targeting is somewhat limited:
The current categories are Auto, Books, Fashion, Health & Fitness, Miscellaneous, Movies, Music, Sports, Television, and Video Games. Rather than typing specific keywords, advertisers are forced to select from a pre-defined set of “Genres” within each category.
However, limiting the options in these categories may be a more effective way to target the ads (think broad match vs. narrow match and losing things like misspellings). Also interesting is user number count. As you narrow your target demographic, MySpace provides “an accurate estimate” of user counts.
MySpace’s targeting of musicians is also a good idea. MySpace has long been the destination for music in the social networking world. By capitalizing on that reputation, MySpace can and most likely will make even more money by helping to promote bands.
Keep your eyes open and let us know how accurate the targeting is!