Are you or your company buying media on Social Networking sites? Have you thought about MySpace? Facebook? or others? If your target demographic is between the ages of 18-30 you should. (High School and College and Young Urban Professionals (Yuppies)) Why? because I have clients that have done this and gotten very cost effective results. But don’t take my word for it…there is a slew of new reports out in the past 24 hours that prove why this phenomenon may be the perfect marketing storm for advertisers.
We know that Social Networks are going global from comScore. They report that not only has MySpace’s traffic gone up 72% in the past 12 months and Facebook’s traffic went up 270%, they are reaching more locations outside the US than ever before. The popularity of these sites and the social networking phenomenon has traveled to Europe, Asia, Africa, Latin America and the Middle East. This is great for international and global companies that want to reach young consumers in these markets. They are also reaching very high traffic levels in the US and some estimate that over 50% of the people within that 18-30 age bracket have social networking profiles. That is a penetration rate as high as what prime time network TV used to be.
We also know that these consumers are spending more and more time on these networks. We know they are addictive, because of the connections and conversations you have between people online. These sites become your communication center and how you stay in touch. Sometimes replacing things like IM and Email, although not completley. Compete, a web tracking metrics company, showed that MySpace and the social netowrking space in general is getting a larger share of people’s time online. There was a big increase of 20% for MySpace last month. Share of time is a fuzzy metric, but we aren’t suprised by anyone who says that social networking is catching on when we see it in practice with family, freinds and our own kids daily.
We also have found out that the Facebook CMP for banners is $10.00. Which is really low. So considering what you may pay on Yahoo, Google, or other consumer sites, this is a bargan. And I know from experience that it does work. So, MySpace is within the range too, and you have the ability to target ad serving by a bunch of demographic and geographic specifics.
So why aren’t you advertising on MySpace and Facebook yet?