The time has finally arrived. MySpace, the social media phenomenon, launched its self-serve advertising platform last month. With an overwhelming 78% share of the top searched terms on the internet, according to Hitwise, I say, it is about time. The big question now is, “Can MySpace monetize from its immense popularity?”
MyAds lets marketers quickly and easily create ads and serve them on MySpace, potentially reaching millions of customers. Just like any typical pay-per-click program, MyAds allows users to create an ad, select a target audience, choose a budget, and even track your results.
Similar to Facebook Ads, MyAds lets advertisers tap into the MySpace network based on interest, demographics and location. MyAds currently allows display ads only. Create an ad with pre-built templates and Flash tools or upload your own. You can choose between 728×90 or 300×250 ad unit. Facebook only allows text ads. MyAds operates on a cpc basis, while Facebook gives the option of cpc or cpm. There is no activation fee; however there is a minimum budget of $25 and a minimum cpc of $.25. Advanced hypertargeting technology is another feature that sets the two social media giants apart. MySpace builds out a profile for each user based on what they do on MySpace over time. With 1200 different ways to categorize each user; advertisers can target very specific groups with particular interests in a geo-targeted area. Facebook’s targeting capabilities are limited to what information the user actually enters.
There is no doubt that users are familiar with MySpace and spend a lot of time there. Now that advertisers have the option to reach this expansive network, MySpace is experiencing dramatic results with average daily revenue of $140,000 – $180,000, all within 3 weeks of launching! According to a recent article in TechCrunch, this advertising platform is poised to be a $50 million a month business. MySpace CEO, Chris DeWolfe believes this will be a significant revenue source. Some even estimate that MySpace revenues for the fiscal year ending in June 2009 will reach $1 billion. So, the question remains, can MySpace continue to capitalize on its popularity and the massive audience it attracts by monetizing its success?…only time will time.
You have just searched in Google for a specific product. You are ready to buy and your credit card is in hand. But wait! The page will not load. Annoyed and agitated, you click on the next ad to make your purchase. Let’s face the facts; time is a precious commodity and patience is not something people have a lot of (online shoppers in particular). That being said, there are few things more frustrating than clicking on a paid advertisement and then having to wait for the page to load. Most shoppers simply will not wait and as a result you (the marketer) pay for that click and unfortunately get absolutely nothing from it. You didn’t even get the chance to show what you have to offer! In addition, this will certainly increase your bounce rate and do absolutely nothing to improve your conversion rate or quality score.
It is always important to have your website pages load efficiently and accurately, but even more so now that Google has announced that they will be incorporating “landing page quality” into their quality score. Your quality score is a critical piece of the puzzle within Google in terms of paid rankings. The better your quality score, the better your positions. Google has always tried to provide the user with the best possible experience and this new metric should be in place in the next few weeks. Thus, all online marketers should take this time to ensure that their web pages are up to speed, literally and figuratively. Check out the latest buzz from Google!
This is the second part of a five-part blog, that will give tips on things to look for when making tweaks and “cutting the fat” from your campaigns. Last time I spoke of keyword average position. In today’s blog I will talk about click through rate, impressions, and match types.
#2 keep your keyword Click Through Rate (CTR) high and limit keyword impressions.
After your PPC campaign has been running for about a month, your campaign will now have some good data to tackle my second recommendation. Your broad match type keywords will have many impressions, especially if your industry and keywords are highly competitive. If you have some keywords set to exact or phrase match type, then your impressions will most likely be lower for those keywords. If your click through rate, is higher than three to five percent, then this means searchers are drawn to your ads and feel the ads are relevant when they type in that search term. You want your keywords to have as high a CTR as possible. If you have keywords with a lower CTR, then there are a few things you can do before completely removing them. First, you can change the match type from “broad” to “phrase” match. This will limit your impressions and hopefully improve your CTR. I always prefer changing the match types before abandoning a keyword, because you never know if a different match type will work better. If the CTR is still low after changing the match type to “phrase”, then I would consider removing the keyword. The keyword selected may not work for your product.Tune in for my third recommendation soon. It should be posted in early January.