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PrintMySpace plans to launch a self-serve advertising service targeted to small-business owners, musicians, politicians and others looking to reach MySpace users, the social-networking site announced Monday.
MySpace said it would launch SelfServe by MySpace by early 2008. The ad-serving platform is the first to provide customized tools for small businesses to generate and target display ads on a social-networking site, MySpace said in a news release.
SelfServe by MySpace will allow "anyone to create meaningful business and promotional campaigns through the vast friend networks they've built on the MySpace platform," Michael Barrett chief revenue officer at MySpace parent company, Fox Interactive Media, said in a statement. "Targeting is for everyone -- from the smallest band to the biggest brand."
The advertising service will allow MySpace users to create customized advertising. A new ad creation tool will allow users to select from a number of ad targeting factors such as geographic, demographic, and various user interest categories. After selecting their desired ad placement within the MySpace network, SelfServe participants will be able to use the customized tool to pay for their ads and initiate placement.
SelfServe by MySpace users will also have access to analytics tools enabling them to track their ad performance, MySpace said.
There are about 23 million U.S. small businesses, and only about 1 million of them advertise online, MySpace said. "SelfServe is designed for the millions businesses that don't advertise online today -- we want to bring that new class of advertisers to MySpace," Chris DeWolfe, CEO and co-founder of MySpace, said in a statement.
Separately, MySpace announced that it has completed the first phase of another new advertising platform, HyperTargeting by MySpace, which allows marketers to buy advertising targeted to specific interest-based segments of the MySpace audience. Among the 50 companies that have been testing the HyperTargeting platform are Ford, Taco Bell, XM Satellite Radio and Microsoft.
