The world's largest online social network has announced plans to introduce "SelfServe by MySpace," a new advertising platform that builds upon MySpace's targeting technology and empowers users such as small business owners, bands, and politicians to purchase, create and analyse the performance of ads throughout the network.
SelfServe by MySpace is the first platform to provide customised tools for small businesses to generate and target display ads to their desired customers in a social media environment.
"SelfServe by MySpace leverages our ad targeting platform, enabling anyone to create meaningful business and promotional campaigns through the vast friend networks they've built on the MySpace platform," said Michael Barrett, Chief Revenue Officer for Fox Interactive Media.
"Targeting is for everyone-from the smallest band to the biggest brand-now MySpace provides a solution for anyone looking to advertise."
The tool will enable users to select from a number of ad targeting factors such as geographic, demographic, and various user interest categories. After selecting their desired ad placement within the MySpace network, all SelfServe participants will use the customised tool to pay for their ads and initiate placement.
All users registered for SelfServe by MySpace will have access to analytics tools enabling them to track their ad performance.
"Right now most small business owners are using directory services, search, or a traditional ad network-none of which put the user in the driver's seat of their own advertising experience, said Chris DeWolfe, CEO and co-founder of MySpace.
"There are 23 million small businesses in the U.S. and less than a million advertise online. SelfServe is designed for the millions businesses that don't advertise online today-we want to bring that new class of advertisers to MySpace."