Yeah yeah, I know Facebook is the new hotness, and I know you think you need to be a pro Facebook advertiser to make some real money from social networking sites. You don’t. There’s a huge opportunity right now to do well if you:

• Are an affiliate
• Own a product
• Have a website/service or just SOMETHING to advertise

I’m talking about one of the opportunities people will talk about in a few years and say things like:

“what the hell was I doing?”

“I wish it was still that easy.”

“I can’t believe you could get clicks that cheap.”

and so on.

With Facebook continuing to not only dominate the social networking space but the INTERNET in general, other popular social networks are starting to BLEED. This presents a HUGE opportunity in paid advertising.

MySpace Ads or “My Ads” has undergone some monumental changes in the last few months. I was spending a lot of my advertising budget on My Ads last year when I was heavy into affiliate marketing and had some amazing results. There are A LOT of things I like about My Ads; I honestly am a bigger fan of the My Ads advertising platform than Facebook’s. My Ads offers more targeting options and advanced features like pixel placement, conversion tracking, and remarketing.  Another reason I’ve always been a huge My Ads fan is that all of their ads are banner based. Banners have always had much higher CTR’s and conversion rates for me than plain text ads in almost every niche/scenario.

Anyway, back to this big opportunity over at My Ads…

Since they are slowing way down in traffic/signups and losing users every day they’ve lowered the costs behind their advertising to encourage more use. You can get suggested bids as low as 1 cent per click on your ads now which is very rare for the rising cost of paid advertising. The more targeting options you try the more likely you are to find a combination that will offer dirt cheap clicks.

I found that by targeting Males 23-45 that are interested in “PC Computer Games” my suggested cost per click is $0.04 – $0.09.

Just to contrast how big of a deal this is – last year the cheapest clicks I had EVER gotten were around 40 cents per click on My Ads. This is one of those amazing opportunities people moan and complain about missing out on all the time like direct linking on AdWords. You might be thinking that the traffic must suck now because people are leaving but that’s not the case at all. There are still over 71 MILLION active users on MySpace for you to market and sell to. I played with different targeting options for awhile and found quite a few different demographics that offer very inexpensive clicks.

Please take advantage of this opportunity – things like this are rare these days in the internet marketing space. I’d love to hear what kind of suggested bids you’re getting and results from your campaigns!