MySpace Keeps Growing Portal, Adds Classifieds
In a move mimicking the portal days of yore, MySpace has announced the launch of a new Classifieds service. The new service will be powered by Oodle, which is simply a free online classifieds platform. The service will also provide users with promotional tools similar to those that Facebook currently provides on their Marketplace product.
Granted, this is not a new strategy for MySpace who already had a classifieds product. The difference is that there will be new features including search and filtering tools as well as listings from users not on MySpace. This means MySpace will have more content for their classifieds product. While Facebook’s marketplace has not been a highlight of the social network site, MySpace’s classifieds service appears to be more popular among its user base.
One thing posing a challenge to MySpace? Craigslist, the leader in web-based classifieds. Also, why does MySpace need to focus on a classifieds service rather than focus on innovating their social network offering? More revenue of course! MySpace has been placed in a position where it has become critical for the company to generate more substantial revenues and this new classifieds offering will help them achieve that.
MySpace is trying to group this new classifieds offering as “social commerce” but I’m not so sure I agree with that. While classified transactions are inherently social, it is not the type of social commerce that many industry people refer to. Social commerce typically refers to recommendations and comments from fellow shoppers. Facebook is trying to take that to a whole new level with recommendations from other friends.
Whether or not this new offering is actually “social shopping” isn’t really important. What is clear is that MySpace is looking to offer new features that help keep users on the site for longer as well as help MySpace boost their revenue. This new classifieds service should help them accomplish that.
