MySpace has launched a beta version of its DIY advertising platform. The new MySpaceMyAds allows individuals and small businesses to create their own ads that can be customised to specific users of the social network.
The service will allow anyone to create customised banner advertisements using MySpace's HyperTargeting technology.
HyperTargeting allows advertisers to tailor their ads to users based on their interests and other demographic details noted on their MySpace profiles.
The technology uses machine-learning tools to analyse all the information provided by users, including the background themes they choose for their profiles and the photos they post to their blogs, to identify which products or services a user may be interested in, MySpace has said.
"MySpace MyAds is a direct marketer's dream - providing entrepreneurs with the most accessible, personalised, and targeted advertising toolkit in the market," said Jeff Berman, MySpace president of sales and marketing. "We're giving businesses better ROI ASAP and in today's economy, that's a must-have."
After an ad is created, MySpace reviews it to ensure it meets MySpace's terms of service and then launches the ad. After the ad goes live, MySpace also will provide a suite of analytic tools and key performance indicators noting the number of times an ad was shown, the number of clickthroughs and the running cost of a campaign, MySpace said.
The advertiser is only charged when a user clicks on the ad as opposed to when an ad is served to a user, according to MySpace.