I'm a developer and new to internet marketing, so be easy.
Would facebook and myspace be a viable source of income for marketing a site through friends?
Or would this be a waste of time.
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Facebook / Myspace
Started by
Online Tax
, Oct 25 2007 12:57 AM
12 replies to this topic
#2
-=seth=-
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Posted 25 October 2007 - 04:29 AM
has your market got something to do with online tax, it was just i'm not sure if your average myspace user would care and facebook is quite a closed society its hard to have your advert shown to large number of people, you have to build up a network
#3
1dmf
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Posted 25 October 2007 - 06:25 AM
I'd also think you might find it hard to advertise on facebook, MS has just bought the advertising rights.
Personally I think these valuations of crappy social network sites are ridiculous, I don't understand the need or want for a facebook account, I tried myspace, thought it was pants! , I never visit youtube , I don't get these sites, maybe it's just me, dunno, they just have no interest or appeal, and I certainly wouldn't click an advert on these types of sites, and if they start plastering these sites with intrusive advertising, will people continue to use them.
What do others think?
QUOTE
SEATTLE (Reuters) - Microsoft Corp <MSFT.O> beat out Google <GOOG.O> on Wednesday in a battle to invest in socializing Web site Facebook, agreeing to pay $240 million (117 million pounds) for a 1.6 percent stake in the Web phenomenon.
Microsoft also clinched exclusive rights to sell ads on Facebook outside of the United States as part of the investment that valued Facebook at $15 billion -- on par with the market capitalizations of retailer Gap <GPS.N> and hotel chain Marriott International <MAR.N > Analysts said Microsoft paid a steep price on a bet that the three-year-old company would be able to transform itself into a hub for all sorts of Web activity.
"The only way this works is if Facebook becomes sort of the users' operating system on the Internet -- everyone logs into Facebook every day to get in contact with their friends and use a multitude of future applications that will be developed for it," said Morningstar analyst Toan Tran.
Facebook, a social network that lets friends share information, allows outside developers to create games and other applications for its site.
The popularity and depth of knowledge Facebook has about its users makes it valuable to companies like Microsoft and Google which want to sell advertising targeted to individual preferences.
Founded in 2004 by Harvard student Mark Zuckerberg, Facebook said it registers 250,000 new users a day, 60 percent of whom come from outside the United States.
Kevin Johnson, president of Microsoft's platform and services division, said the $15 billion price tag for Facebook is based on Microsoft's belief that the site could eventually reach 300 million users, who can be targeted for advertising. It has nearly 50 million today.
"You combine the number of users with the monetization opportunities and you can figure out a fairly modest average revenue per user per year and you can very quickly get to this level of valuation," Johnson said in a conference call with analysts and reporters.
Microsoft has stepped up efforts to be a player in the $40 billion market for online advertising, which the company expects to double in size within three years. It paid $6 billion to acquire digital advertising firm aQuantive in August.
Under the Facebook deal, Microsoft would be the exclusive third-party advertising platform for Facebook extending a previous deal for Microsoft to sell banner advertising next to Facebook member profiles in the U.S. until 2011.
GOOGLE VS. MICROSOFT
Google and Microsoft, now rivals for Internet-based audiences and applications, have butted heads before for Internet properties. Google beat Microsoft with a $1.65 billion acquisition of online video sharing site YouTube last year.
Forrester Research analyst Charlene Li said that Microsoft was a better strategic fit for Facebook, since it knew how to work with software developers and build computing environments -- such as its Windows operating system.
"Microsoft is a company that knows how to build platforms, knows how to develop relationships with developers. Microsoft developed the network that is the biggest, most vibrant one out there," she said. "Google didn't bring as much to the deal."
Facebook opened its doors to users beyond an original base of college students a year ago. It also opened the doors to outside developers and there are tens of thousands of developers writing Facebook applications, the company said.
Microsoft was one of many suitors looking to participate in its latest round of financing, said Facebook Vice President Owen Van Natta. The funds will go toward doubling the company's staff over the next year and other growth initiatives.
Google Co-founder Sergey Brin told a meeting with Wall Street analysts at the company's Silicon Valley headquarters that his company could partner with important Web sites.
"We don't feel, at a higher level, that we need to own every successful company on the Internet," said Brin, who later told reporters that Microsoft may have overbid.
Google has a multiyear deal with MySpace <NWSa.N>, the largest social network, to provide search and advertising alongside MySpace's 110 million user profiles.
Eric Schmidt, Google's CEO, told reporters that its pact with MySpace is performing better than originally expected.
Shares of Microsoft rose slightly to $31.60 from a Nasdaq close of $31.25, while Google ticked down to $675.30 from a close of $675.82.
Microsoft also clinched exclusive rights to sell ads on Facebook outside of the United States as part of the investment that valued Facebook at $15 billion -- on par with the market capitalizations of retailer Gap <GPS.N> and hotel chain Marriott International <MAR.N > Analysts said Microsoft paid a steep price on a bet that the three-year-old company would be able to transform itself into a hub for all sorts of Web activity.
"The only way this works is if Facebook becomes sort of the users' operating system on the Internet -- everyone logs into Facebook every day to get in contact with their friends and use a multitude of future applications that will be developed for it," said Morningstar analyst Toan Tran.
Facebook, a social network that lets friends share information, allows outside developers to create games and other applications for its site.
The popularity and depth of knowledge Facebook has about its users makes it valuable to companies like Microsoft and Google which want to sell advertising targeted to individual preferences.
Founded in 2004 by Harvard student Mark Zuckerberg, Facebook said it registers 250,000 new users a day, 60 percent of whom come from outside the United States.
Kevin Johnson, president of Microsoft's platform and services division, said the $15 billion price tag for Facebook is based on Microsoft's belief that the site could eventually reach 300 million users, who can be targeted for advertising. It has nearly 50 million today.
"You combine the number of users with the monetization opportunities and you can figure out a fairly modest average revenue per user per year and you can very quickly get to this level of valuation," Johnson said in a conference call with analysts and reporters.
Microsoft has stepped up efforts to be a player in the $40 billion market for online advertising, which the company expects to double in size within three years. It paid $6 billion to acquire digital advertising firm aQuantive in August.
Under the Facebook deal, Microsoft would be the exclusive third-party advertising platform for Facebook extending a previous deal for Microsoft to sell banner advertising next to Facebook member profiles in the U.S. until 2011.
GOOGLE VS. MICROSOFT
Google and Microsoft, now rivals for Internet-based audiences and applications, have butted heads before for Internet properties. Google beat Microsoft with a $1.65 billion acquisition of online video sharing site YouTube last year.
Forrester Research analyst Charlene Li said that Microsoft was a better strategic fit for Facebook, since it knew how to work with software developers and build computing environments -- such as its Windows operating system.
"Microsoft is a company that knows how to build platforms, knows how to develop relationships with developers. Microsoft developed the network that is the biggest, most vibrant one out there," she said. "Google didn't bring as much to the deal."
Facebook opened its doors to users beyond an original base of college students a year ago. It also opened the doors to outside developers and there are tens of thousands of developers writing Facebook applications, the company said.
Microsoft was one of many suitors looking to participate in its latest round of financing, said Facebook Vice President Owen Van Natta. The funds will go toward doubling the company's staff over the next year and other growth initiatives.
Google Co-founder Sergey Brin told a meeting with Wall Street analysts at the company's Silicon Valley headquarters that his company could partner with important Web sites.
"We don't feel, at a higher level, that we need to own every successful company on the Internet," said Brin, who later told reporters that Microsoft may have overbid.
Google has a multiyear deal with MySpace <NWSa.N>, the largest social network, to provide search and advertising alongside MySpace's 110 million user profiles.
Eric Schmidt, Google's CEO, told reporters that its pact with MySpace is performing better than originally expected.
Shares of Microsoft rose slightly to $31.60 from a Nasdaq close of $31.25, while Google ticked down to $675.30 from a close of $675.82.
Personally I think these valuations of crappy social network sites are ridiculous, I don't understand the need or want for a facebook account, I tried myspace, thought it was pants! , I never visit youtube , I don't get these sites, maybe it's just me, dunno, they just have no interest or appeal, and I certainly wouldn't click an advert on these types of sites, and if they start plastering these sites with intrusive advertising, will people continue to use them.
What do others think?
#4
Randy
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Posted 25 October 2007 - 06:38 AM
Welcome OT ! 
It depends entirely upon if the product/service you're trying to get out there in front of people fits the basic demographic of Facebook and MySpace users. For most it's not going to be a huge income earner, but for some markets you can get at least some business from the social networking sites.
QUOTE
Would facebook and myspace be a viable source of income for marketing a site through friends?
It depends entirely upon if the product/service you're trying to get out there in front of people fits the basic demographic of Facebook and MySpace users. For most it's not going to be a huge income earner, but for some markets you can get at least some business from the social networking sites.
#5
Conspicuous
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HR 3
Posted 25 October 2007 - 03:35 PM
Welcome!
I second what Randy said: it depends.
Facebook has about a kajilion groups created and organized around particular interests, so if the site you hope to promote to your friends is a niche site that will be of interest to them, you may find some success.
If your site is Made for AdSense then I imagine you will not find any takers.
You said you were a developer - if you can create some cool widget for Facebook it could drive a lot of traffic to your site. Monetizing them once they get there is a whole different kettle of fish. Check out the API and think if there's anything you can contribute.
A second thing you can do with the social networking is actually pursue some real relationships. There are a lot of SEOs and marketers there that may or may not be interested in being your friend.
I second what Randy said: it depends.
Facebook has about a kajilion groups created and organized around particular interests, so if the site you hope to promote to your friends is a niche site that will be of interest to them, you may find some success.
If your site is Made for AdSense then I imagine you will not find any takers.
You said you were a developer - if you can create some cool widget for Facebook it could drive a lot of traffic to your site. Monetizing them once they get there is a whole different kettle of fish. Check out the API and think if there's anything you can contribute.
A second thing you can do with the social networking is actually pursue some real relationships. There are a lot of SEOs and marketers there that may or may not be interested in being your friend.
#6
Online Tax
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HR 1
Posted 25 October 2007 - 07:51 PM
Thanks for the info. I didn't know that Microsoft had bought all of facebook adv. Creating a facebook app would be pretty cool, but I can't think of anything related to taxes that would interest people.
#7
nethy
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Posted 25 October 2007 - 08:28 PM
I think that leveraging Myspace/Facebook is the realm of the DIY euntrepeneur. I mean these things can be leveraged by companies but it is hard to package solutions that will benefit a significant portion of companies or have reasonably predictable results like SEO/PPC on sales, brand awareness, or other marketing goals.
If you do want to try leveraging this media you need to be a keen user and know it backwards, really live it. Otherwise its like writing poetry if you have never read poetry. I would imagine that many of those successful at leveraging social media have actually developed a product (product in the marketing 1001 {101 to Americans} sense) with this media in mind.
So in short, it is possibly benefitial to use facebook/myspace to promote a product/service/site but... it doesn't integrate easily into a normal web-marketing mix.
If you do want to try leveraging this media you need to be a keen user and know it backwards, really live it. Otherwise its like writing poetry if you have never read poetry. I would imagine that many of those successful at leveraging social media have actually developed a product (product in the marketing 1001 {101 to Americans} sense) with this media in mind.
So in short, it is possibly benefitial to use facebook/myspace to promote a product/service/site but... it doesn't integrate easily into a normal web-marketing mix.
#8
Hyperformance
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Posted 26 October 2007 - 03:36 AM
Hmmm, interesting perspectives...
IMO these platforms should have a place in your marketing mix (depending upon your product or service).
I do agree with Randy as far as 'making money' - with the original question being a little vague... in the 'viable source of income' - my question being;
Is it the (your) plan to make this a solo place of advertising, promotion or income? Then my answer would be probably not. However, if it is approached as one area of increasing exposure to potential prospects that COULD increase qualified traffic and sales then it should be added to your overall plan. I also place a huge amount of value on positive Branding for your business or product awareness - on and among these sites, especially when it meets your demographic (like restaurant billboards on the highway). I also put a great deal of emphasis on the fact that you can find many, many peripheral potential partners that can compliment your offering and theirs - these joint ventures can add up to great relationships (partnerships) that go a long way beyond your own independant offerings all over the web and not just in MySpace or FaceBook alone... maybe you would not have met them otherwise or elsewhere?
I do feel you have to have an 'active' and ongoing role in promoting and expanding your awareness using these tools and even this will get easier. If your potential audience IS or can be Worldwide - then you definitely need to belong.
And these are only my input on the platform, not to include if you actually plan to advertise to these areas and not just be a member site of interest. The benefits I think can be great, the question is... Will they become what people see their potential as... users being on every day as their "life" pages versus just another stop in their daily surfing... it's the next evolution of the original MyYahoo! pages - and I DO believe there is still much evolution to come to these platforms as MS believes - building apps that cannot be found elsewhere that are easy to use, or fun, or tied to your checking account, stocks, online gaming, music, art, or a host of other potentially exciting areas that millions of users take some interest in.
If you have a product or service or market to these demographics, then I believe you HAVE TO make yourself a part of these communities if for no other reason then to be be recognized in this arena by these 'groups' and prompting further interface through your website of which you do have more control... but I think you need to 'belong', and it should be all over your marketing plan for sound and continued growth and awareness.
Sorry, it's late, and sometimes I do get carried away - it's called loving this Industry and it's ever-changing landscape...(forgive me please)
- S
IMO these platforms should have a place in your marketing mix (depending upon your product or service).
I do agree with Randy as far as 'making money' - with the original question being a little vague... in the 'viable source of income' - my question being;
Is it the (your) plan to make this a solo place of advertising, promotion or income? Then my answer would be probably not. However, if it is approached as one area of increasing exposure to potential prospects that COULD increase qualified traffic and sales then it should be added to your overall plan. I also place a huge amount of value on positive Branding for your business or product awareness - on and among these sites, especially when it meets your demographic (like restaurant billboards on the highway). I also put a great deal of emphasis on the fact that you can find many, many peripheral potential partners that can compliment your offering and theirs - these joint ventures can add up to great relationships (partnerships) that go a long way beyond your own independant offerings all over the web and not just in MySpace or FaceBook alone... maybe you would not have met them otherwise or elsewhere?
I do feel you have to have an 'active' and ongoing role in promoting and expanding your awareness using these tools and even this will get easier. If your potential audience IS or can be Worldwide - then you definitely need to belong.
And these are only my input on the platform, not to include if you actually plan to advertise to these areas and not just be a member site of interest. The benefits I think can be great, the question is... Will they become what people see their potential as... users being on every day as their "life" pages versus just another stop in their daily surfing... it's the next evolution of the original MyYahoo! pages - and I DO believe there is still much evolution to come to these platforms as MS believes - building apps that cannot be found elsewhere that are easy to use, or fun, or tied to your checking account, stocks, online gaming, music, art, or a host of other potentially exciting areas that millions of users take some interest in.
If you have a product or service or market to these demographics, then I believe you HAVE TO make yourself a part of these communities if for no other reason then to be be recognized in this arena by these 'groups' and prompting further interface through your website of which you do have more control... but I think you need to 'belong', and it should be all over your marketing plan for sound and continued growth and awareness.
Sorry, it's late, and sometimes I do get carried away - it's called loving this Industry and it's ever-changing landscape...(forgive me please)
- S
#9
Golferstube
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Posted 01 November 2007 - 05:41 PM
I have an online golf website and Myspace has helped me out some. I spent about 5-6 hours building my page and I have around 300 friends, all associated with Golf. Myspace could definately work depending on the product. I also send out bulletins on myscpace that showup on the myspace pages of all my friends on Myspace which also help. I wouldnt say myspace has a big affect on my website, but it definatley didnt hurt. I would at least try it out.
#10
QiSoftware
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Posted 27 November 2007 - 07:13 AM
I too am a developer and belong to both MySpace and Facebook. To date I have noticed no increase in business through these social networks. Admittedly I do not spend a lot of time on either platform.
Q...
Q...
#11
jspope
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Posted 28 November 2007 - 10:12 AM
Hi!
MySpace and Facebook certainly can't hurt!
For the minimal time invested, you get backlinks to your website(s), targeted traffic (from people doing searches within the social networking site), search engine results, networking, and so on.
Many successful Internet marketers are on MySpace and Facebook.
By the way, you can buy ads on Facebook here: http://www.facebook.com/ads/
Regards,
Stephen :-)
MySpace and Facebook certainly can't hurt!
For the minimal time invested, you get backlinks to your website(s), targeted traffic (from people doing searches within the social networking site), search engine results, networking, and so on.
Many successful Internet marketers are on MySpace and Facebook.
By the way, you can buy ads on Facebook here: http://www.facebook.com/ads/
Regards,
Stephen :-)
#12
Hyperformance
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Posted 28 November 2007 - 11:37 AM
Good point Stephen -
And QiSoftware... You may have received some traffic from these social netowrks, and you could be right and have gained no visible TRAFFIC...
However, you probably HAVE gained a lot of (hopefully) positive BRANDING which has it's own longer term benefits. There are many other factors besides just "instant" traffic gratification to be gained from these areas - and you DO have to "work" them a little bit for results. But, in my experience, it does and will pay off for those who are active and involved a bit... hence the "social" part of the network.
- Scott
#13
Blogologist
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Posted 29 November 2007 - 07:20 PM
In the next year I predict we will see the more "spammy" end of the commercial sector try and hijack Facebook application development for financial gain.
There will be those who do it well and effectively, and those who... don't.
I read somewhere that there are 40,000 developers globally working on Facebook apps at present... it's a full-on landrush.
Somewhere in all of that, some will work out how to make real money.
I'm sure there are some guys making a nice side-income off Amazon commissions, for example, with all those bookshelf/recommendation apps in Facebook.
So, my recommendation is to get creative, thinking about how your business/site could offer some sort of nifty free value-add app on Facebook that would link back to your site, etc.
Just know that every man and his dog is doing the same thing
-Alister
There will be those who do it well and effectively, and those who... don't.
I read somewhere that there are 40,000 developers globally working on Facebook apps at present... it's a full-on landrush.
Somewhere in all of that, some will work out how to make real money.
I'm sure there are some guys making a nice side-income off Amazon commissions, for example, with all those bookshelf/recommendation apps in Facebook.
So, my recommendation is to get creative, thinking about how your business/site could offer some sort of nifty free value-add app on Facebook that would link back to your site, etc.
Just know that every man and his dog is doing the same thing
-Alister
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