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Rupert Murdoch’s News Corporation announced yesterday that their social networking site, MySpace, will not hit its annual revenue target of $1 billion, falling short by some 10%.
Revenue in the third quarter fell from $233 million in the preceding 3 months to $210 million.
As discussed in this blog previously, there is certainly a place for marketing in the social networking sites but are they really the best place to find buyers desperate to buy your product or service?
Will Murdoch offload MySpace if it’s not the cash cow it first seemed? Now, who’s got money to burn?
“Phone call, Mr. Gates..”
The news hasn’t got any better for MySpace since. In our post MySpace Announce Job Cuts Amidst Slump in Market Share we look at how the company has continued to haemorrhage money a year later; becoming part of a wider online issue for News Corp. Whilst visit figures remain decent, Facebook’s dominance is clearly impacting on their financial stability.
In today’s multichannel world, there are mountains of data which provide insights into how users have interacted with your business and their path to conversion (or non-conversion). It is important to understand performance with multichannel marketing, which can be achieved through attribution modelling. Attribution refers to assigning credit to something (a channel, touchpoint, etc.) for the role it played in the final conversion. An attribution model is a rule, or set of rules, that assigns this credit correctly to the right channel or touchpoint.
For a long time, Bing, the UK’s second-largest search engine, has been underappreciated and, in some instances, even ignored. Often regarded as the inferior search engine to market leader Google, Bing has historically struggled to appeal to many in the digital world. Most PPC analysts would give justified reasons for neglecting Bing for so long; these include the volume of traffic and the user experience just not matching up to Google. However, the validity of these assessments is now diminishing. Bing has grown and improved rapidly in the last couple of years; if you are not integrating it into your comprehensive digital marketing plan, you run the risk of missing out on a large portion of your chosen market and significant revenue.