MySpace tries to recover its cool - WSJ
I was quoted in the Wall Street Journal last week discussing MySpace's efforts to win back its audiences, spur engagement and attract new advertisers. They definitely do have an uphill task though I'd warn you not to write them off too quickly. The traffic drops that they're seeing aren't that dramatic and they need more time to show that their more entertainment centric strategy is going to work. Here's the quote:
MySpace lost its way over the years as it got caught up in a race with Facebook, launched disparate initiatives and let technology and new-product developments lag, ad executives say.
Those missteps cost MySpace much of its buzz on Madison Avenue, says Shiv Singh, vice president and global social-media head at Razorfish, the digital-ad agency owned by Publicis Groupe."Marketers want to align their brands with the newest and the greatest. Currently, that is Facebook and Twitter," Mr. Singh says."Hardly a day goes by without a client asking me, 'What should I do with Facebook?' I don't get anywhere near as many questions about MySpace," he adds.
They've certainly lost the attention of advertisers today but that doesn't mean they can't win it back especially if they focus more, launch innovative ad products and rebuild the somewhat tarnished brand.
Follow me on Twitter (@shivsingh) for more insights on digital strategy and social media.
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