MySpace Shows Brands Can Make a Comeback

March 2, 2012 at 9:22 pm Leave a comment

by Michael P. Grace

Comebacks are synonymous with sports figures, fashion, and pop stars—and more recently, MySpace. The company’s announcement that it added 1M new users last month shows that digital brands can make comebacks too—massive comebacks.

MySpace was considered all but dead when Specific Media and singer and actor Justin Timberlake took it off News Corp.’s hands in June 2011. Now the company has revived itself and enjoying a daily sign-up rate of 40,000 new users. So, what prompted the resurgence in popularity? What “success secrets” can non-digital companies learn from such a comeback?

  1. Focus on Your Strengths. The new MySpace owners have stopped trying to compete with Facebook and other social networking sites. Instead, they have focused on MySpace’s superior platform for posting and listening to music and revamped the site as a music service—a strategy that appears to be paying off.
  2. Grow Your Digital Marketing Platform. Even if you’re not a digital brand, this is a critical component to success. Unfortunately, many companies are still timid about investing in their online and social media presence. With so many users on social media sites, there’s no question that sites, like Facebook, Twitter and YouTube, are being used to learn about companies, products, and services and make buying decisions. Social media can be a powerful tool for any organization, both large and small, to interact and connect with customers and prospects in a more personal and powerful way.
  3. Understand Your Audience. This is marketing 101. The key is to expand your customer profiles to include their online behavior—what sites do they visit, what search terms do they use to find your products, what content are they looking for that you might be able to create. MySpace focused on what was important to its audience—offer an extensive library of music, keep the service free, and making it easily accessible.
  4. Integrate With Facebook and Twitter. We encourage all our clients to do this. Why? Referrals. According to By the Numbers: How Facebook Says Likes & Social Plugins Help Websites by Danny Sullivan of Search Engine Land, the average media site integrated with Facebook has seen a 300% increase in referral traffic. One of our clients (The Villages at Allen and Fairview) saw an increase in referral traffic by as much as 638% by integrating social media with their traditional marketing and website. What type of traditional advertising gets you that kind of result?
  5. Use Social Media Across Your Company. Social media can be effective as a marketing tool, but keep in mind that there are also very productive ways to utilize social media for customer service, product development, sales, purchasing, and recruiting. By thinking of social media holistically, you’ll see how it can permeate every aspect of your company’s work.

Only time will tell whether or not MySpace’s strategy will return the company to its prior rank in the online world. I’m not a gambler, but I think it’s a safe bet that if the company continues to enlist solid business and social media practices (including the five tips I mentioned) they will continue to successfully grow. Of course, if Justin Timberlake has any questions on what to do next he’s welcome to give me a call.


Entry filed under: CEO's Desk, Marketing, Social Media. Tags: , , , , .

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