Tuesday, August 21, 2007

Why is your business not Facebooking or Myspacing again? Just Wondering!

Today is a busy day at the Rollett Marketing offices. First off, I do have to confess that I finally gave into the Holy Grail and bought an iBook. And let me tell you I couldn’t be happier! Way overdo if I say so myself.

Getting into the Marketing world today I really wanted to point out some information about the Myspace generation. First of all when I say Myspace generation, I mean the Millennial Generation (i.e. Generation-Y) and it is not solely confined to Myspace. This encompasses the whole social networking, Web 2.0, widget and application world. I think that 'Myspace Generation' is a fitting categorization for the largest class to enter colleges this fall. With university education getting back in motion yesterday here in Orlando (Go Knights!) I needed to share some valuable information with you.

First, if you are not marketing to this generation, you are clueless in your business approach (unless you are selling prune juice or V8). Secondly, if you are not focusing at least 25% of your efforts where we hang out, then you are even more lost. Where do we hang out, what do we do? You don’t need to move far from where you are right now! The computer encompasses more of our time than anything else and needs to be your key focus to hit this demographic.

Look at this:
- 93 percent of students report that they own a cell phone
- 58 percent of students own an MP3 player
- 27 percent of co-eds cite choosing to stay in touch with friends via social networking site over face-to-face communication or over phone
- 54 percent of college students (ages 18-30) visit a social network in a typical day
- 66 percent of students are learning about brands, products and services from their friends

You want numbers for Facebook and Myspace! Well here you go!
-Myspace bought by Rupert Murdoch for some $580 million
-YouTube bought by Google for just under $1 billion
-Facebook just turned down Yahoo $1 billion offer

Myspace boasts 60 million active users
Facebook boasts 27 million active users

Even more disturbing is that over 3.5% of every American (or 7.5 million people) with a mobile phone has visited Myspace, Facebook or another social networking site on that mobile device.

If this post hasn’t convinced you to get off your ass and get moving on social networks, then I don’t know what will. Everyone knows that us Millennial kids have the attention span of a 2-year old, so if you wait too long you are going to miss out on the biggest marketing opportunity of your lifetime!

This isn’t to say that you need to spend the big bucks to get on the home page of Myspace, they won’t even write you a reply if your budget is less than $50,000, but it is to say that you need to effectively market your product on a profile and spread the word. Don’t chase cool, blend in and let cool find you, even if you are prune juice or V8! 

For more information on how Rollett Marketing can help get your feet wet in Social Networks please email greg@rollettmarketing.com or grollett@tmail.com for instant access.

Greg’s new book “Myspace Band Fund” will be available worldwide in October. Check back for more information and to get special bonuses from our pre-sales!

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