A place for friends - and now, small businesses, too!

Yesterday was the official launch of MySpace's new advertising service, MyAds: a cheaper alternative for small businesses who want to advertise on MySpace by designing banner ads that target users by specific demographics (made possible through MySpace's Hypertargeting service available as of last year). According to MySpace founder Chris DeWofle, Hypertargeting has already helped some advertisers achieve a 50%-300% jump in click rates for their ads. Right now when businesses are pinching their budgets to save in the current economy, many are wary of social media marketing. The really cool news is that MySpace convinced about 3,300 advertisers to sign up for MyAds during its beta run even before it's official launch! As a dedicated believer in the merits of social media marketing for any business, large or small, I just thought this was pretty exciting news :)