I used Myspace in my last marketing position--great success, but I think it depends on what you're promoting. I was the Marketing Director for a nightclub/lounge, so my 'friends' were local, between the ages of 21-50, and we had this community thing going. You know? People met people in my friends list and would actually meet up, in person, at my venue. The audience was very focused. Honestly, for my first week on the job, I spent 5 hours of the day just adding hot girls to my friends list that resided in my zip code--it was that easy. I find that my current business wouldn't benefit as much. Credit cards and personal finance are something that people seek--not me seeking them. At my last position, I could kind of assume hot, young girls wanted to party. I can't really assume that everyone needs a credit card or an affiliate program. I'm still new to marketing products/services on the internet, so I'm still learning. And if anyone can tell me how I can market my company on MySpace/Facebook--share! Please share!
Absolutely, for that type of thing myspace is unbeatable, when used to market to a local group of like minded people. The number of bands that have used myspace to successfully promote their concerts and albums is mind boggling. By the way, here's a friend of mine who's very good. Give him a listen. http://www.myspace.com/joedesroches
If you are looking at a way to monetize facebook this is a pretty good recorded webinar I watched. I know the one guy is a million dollar earner and the other guy is a multiple six figure earner. It is a free 76 minute webinar where they teach how to use facebook to make money in whatever you do. Reading the other posts here and after watching this webinar I don't feel this technique involves spamming at all but really revolves around building relationships. It does take a little time consistently but you'll see how it pays off... If someone else watches it - let me know if you think this is advanced stuff or if I was just impressed because I am a Facebook newb. There is a sales page attached underneath the recorded webinar but you don't need to buy anything for the free training. http://facebook.webmarketingandleads.com/?DigitalPoint Hopefully this will add value to your business.
Twitter is the "new" myspace. Nowdays Twitter become popular and Facebook has lots of traffic from the Users.