Economist - Marketing on MySpace
Fox News Corp has a brand. Unlike their competitors, they haven't relinquished it to stars or shows et cetera. They are also the exception because they understand market retention. You may have a political bone to pick with Fox News, but only because you are aware of their brand. MySpace has market retention too, because, well frankly, it's quite addictive. It's the internet version of tobacco.
This idea of market retention is foreign to media firms in an age where most are hyper-focused on "capturing" markets. Media firms spend millions of dollars on marketing only to toss away their branding in a nano-second. All of this is applicable to Fox News Corp. and MySpace. News Corp's acquisition is on the digital ball. Viacom is not far off, but they are trying to build from scratch (with MTV's new social networking site Flux) what Murdoch had but to acquire. While other media firms are looking in their rear view mirror, Murdoch and Myspace are the perfect and timely diagonal expansion. More on that later. In the meantime...
Marketing on MySpace | ForBiddeN fruit | Economist.com
Excerpts:
The social-networking site had 17m unique monthly visitors last July, when Rupert Murdoch recast himself as an internet visionary by buying it for $580m; now it has 54m, and is the most visited website in America.
MySpace seems to offer a chance for companies to take their marketing into new, potentially more lucrative territory, by becoming, in effect, members of their customers' network of “friends”. A growing number of firms have established their own pages on MySpace, to which users can link. In the process, some are getting into bed with some unlikely partners. Earlier this year, for example, Unilever, a consumer-goods giant, hooked up with Christine Dolce to promote Axe, a deodorant. Ms Dolce, who goes by the alias ForBiddeN, boasts around 900,000 “friends” who link to her MySpace page. Bleached, buxom and with impressive marketing savvy, she is arguably the most successful brand to emerge from MySpace, and has already launched a line of clothing.
That made her perfect, Unilever concluded, to draw in the 18- to 24-year-old lustful lads to whom Axe is shamelessly marketed. So Ms Dolce hosted an interactive game, called “Gamekillers”, based around dating tips and designed subtly to promote Axe. Some 75,000 MySpacers signed up for it.
The biggest challenge—for MySpace itself, and for the firms that want to use it to promote their wares—is not to alienate potential customers by being overtly commercial. “We need to be engaging with them, not banging them over the head with brandalism that pollutes their space,” says Kevin George of Unilever. But, he says, “when you deliver 18- to 24-year-old guys content they want to engage with, they don't mind if it comes from a brand.” This theory will now be put to the test, as MySpacers' attention is fought over by brands including Procter & Gamble's Old Spice, State Farm insurance, Elexa by Trojan female condoms, and the US Marine Corps.
