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Social Networking Goes Big Business

Posted by ryuzaki0 on from the this-profile-for-sale dept.

PreacherTom writes, "It is no secret that sites like Facebook and MySpace are big hits among students. Big business is catching on to their possibilities too. Even in the wake of online stalking scandals, companies such as JP Morgan Chase, Apple, and Burger King are building whole marketing campaigns around social networking sites, to the tune of an estimated $280 million in 2006. It appears to be working: take the King, for example, who has amassed more than 120,000 'friends' that opt (for rewards) to associate themselves with his profile." These marketing drives are aimed at younger consumers, but (from the article): "About 36% of MySpace users are people aged 35-54, as are 30% of Facebook users."

9 of 68 comments (clear)

  1. huh? by User+956 · · Score: 4, Informative

    Big business is catching on to their possibilities too.

    What do you mean "is catching on"? News Corp (FOX) bought Myspace for 500 million a year ago.

    --
    The theory of relativity doesn't work right in Arkansas.
    1. Re:huh? by q-the-impaler · · Score: 3, Funny

      Apparentely you don't understand that uncool is now cool. I remember seeing stores carrying "SPAM" shirts before it became a name for unwanted email. And what was so cool about wearing a SPAM shirt? Dunno, myself... but kids bought them. If they brought back Hypercolor shirts it would be a hit.

      --
      Sierra Tango Foxtrot Uniform
  2. 36% by Eightyford · · Score: 3, Funny
    About 36% of MySpace users are people aged 35-54
    That's a lot of pedophiles! Yikes...
    --
    Religion for nerds. Stuff that really matters
    1. Re:36% by eln · · Score: 5, Funny

      No big deal, the other 64% are FBI agents posing as 13 year olds.

    2. Re:36% by ConsumerOfMany · · Score: 3, Funny

      There is even a class for older people who want to learn how to sign up and use myspace. (its SFW, if watching vids at work wont get you fired and hilarious)

  3. A marketing wet dream by Colin+Smith · · Score: 3, Insightful

    Your customers tell you all about themselves, voluntarily and for free.

    Contrary to most geek's ideas, marketing is bloody difficult. It's actually very expensive, very hard work. You're essentially trying to model human society. That's why they'll pay you to answer questions.

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    Deleted
  4. Re:MySpace, FaceBook, studpid by jo42 · · Score: 3, Funny

    Then someone needs to write a Wikipedia entry on just that topic -- what are you waiting for?

  5. Re:A preponderance of knowledge by Krater76 · · Score: 3, Insightful

    This isn't an EBay or a Google, it's just entertainment and no one is more fickle than the 18-24 demographic. Besides, it's just a matter of time. Kids grow up, trends change. Think about one of the hottest fads that were around when you were 18 and think about how much they affect you now.

    I honestly can't think of any fads at all. Maybe that's because 18-24 was college and college was a pretty good time on it's own :)

    --
    "Is life so dear, or peace so sweet, as to be purchased at the price of chains and slavery?" - Patrick Henry
  6. Too Much! by PineHall · · Score: 3, Interesting

    Is it me, or has the amount of advertising reached an all time high? Everywhere I look I see "Buy! BUY! Buy!" No wonder the national saving rate is currently negative. We are digging ourselves way into debt. I think this is not good in the long term. I wonder how long can this last and if there will be a backlash.

    Advertising on social networking sites looks like a good idea, but I wonder when people will say no more and avoid these advertisement websites. I think people will eventually look for web communities where advertising is a minimum. And many people will pay for advertising-free websites.