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BizReport : Social Marketing : September 11, 2006

Social Networks: Changing the Advertising Campaign

Kids were the first to jump on the MySpace bandwagon. Creating their own pages for music, movies and more. With the popularity of social network sites like MySpace and FaceBook, companies are also jumping to get a foothold in this new advertising frontier.

by Kristina Knight

For example, JP Morgan Chase. The company knew college students used credit cards and tailored a program to students. Instead of marketing it only on their own website, however, Chase put advertising on Facebook. “We’ve been very active in marketing to a younger consumer and we know we need to be relevant in their life,” said Kathy Witsil, director of Chase Brands.

Many other companies have started their own social networks because of the huge number of visitors to places like Facebook and MySpace. In July, MySpace had between 45 and 54 million unique users. With such staggering numbers it is no surprise that companies are beginning to take advantage of the audience.

Advertising in the social marketplace is still a fairly small number, which means this could be the time to make the most impact. “Marketers are just now getting their arms around what social network marketing really is,” said Debra Aho Williamson, a senior analyst at eMarketer.

If you choose to begin social network marketing for your company remember this form is an ongoing conversation. You can’t control what people will or won’t say, and in the long run this network could boost your business limitlessly.

Tags: eMarketer, Facebook, JP Morgan Chase, MySpace, social marketing, social network

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