“Social Media “ as one of the fastest growing channel of marketing and if you this than how one can forget MySpace. You can’t talk about social media without mentioning MySpace. If your marketing strategy say that you need to target young audience than forget everything and focus on MySpace.
Being the King in social media “MySpace” losing its space from some time. According to numbers released by web analytics firm Compete.com MySpace’s U.S. traffic dropped from 55.6 million unique visitors in August to 50.2 million in September. It has nearly shed off 20% of its U.S. traffic since June and lost a little over a million U.S. visitors between June and July, but more than 4 million between July and August and over 5 million between last month and this month.
Companies that are successful in launching MySpace marketing campaigns usually use fun promotions that invoke lots of interaction, competition and bragging rights. Disney is a prime example of this. They use MySpace not just to advertise a movie that’s coming out. Instead, they spend time creating a MySpace site that allows users to participate in contests with a chance to appear in the movie or interact with the directors and stars.
MySpace is poised to haul in $495 million in ad revenue this year, down 15% from last year's $585 million, according to research firm eMarketer. In August, MySpace attracted 64.2 million unique visitors from the United States, off 15% from August 2008, according to comScore, while Facebook pulled in 92.2 million unique U.S. visitors – up more than 100% year-over-year.
If some major changes are not implemented NOW to attract the people back, MySpace would lose relevance in the realm of social media. But then that is what makes the web so exciting. There should be no monopoly and that’s shows the today market is consumer oriented and what economics say Saturation and Fall is always there. I am not surprised if down the line five years Twitter tweets low and FaceBook face disappear after all that’s the stiff market it is. Social media brands today are investing enormous time on remaining relevant and adding new features that can keep the audience coming back. But even with that, it would be difficult to believe that the near future does not hold anything which is more interesting than Facebook, more dynamic than Twitter etc. Maybe social media itself will become less relevant. Time will tell.
Lets come back to MySpace and see where the space gone.MySpace focusing on music, videos and games, it hopes to recapture some of its luster. With the MySpace refugees mounting, it's time for some new blood to make some brilliant, future-changing decisions.
MySpace rank across countries
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