Small businesses like MySpace because it provides free Web space, free advertising and free access to millions of potential customers. Hollywood likes MySpace because it can help boost turnout for movies’ opening weekends. And some brand names use MySpace to generate the kind of buzz that just can’t be bought.
Companies, like individual MySpace users, can create free Web pages promoting themselves or their products. They too can collect friends — users who link with the company and in return link it to their social networks.
“There’s a real value to word-of-mouth promotion,” said Pete Snyder, CEO of New Media Strategies, an online intelligence and marketing firm based in Washington, D.C. “It’s about trusting the opinions of like-minded folks more so than commercials.”
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