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My space presentation (1)
- 1. A road less traveled… a road of our own.
- 5. Competitors
- 8. Innovation as a Strategy
- 13. Positive return on investment
- 14. Metrics and reporting dashboards track behaviors
- 16. Members would be pleased
- 19. Choose what they want it to look like
- 20. More reliability
- 22. In-house platform has more benefits
Notes de l'éditeur
- Hello, my name is Jennifer Springer and I will be presenting to you our group’s proposal, to answer the question “Should MySpace enter into Google’s OpenSocial Platform”? After thorough research, our group has come to the conclusion that MySpace should choose to develop its own platform in-house rather than entering Google’s OpenSocial platform. The social networking industry is very competitive, with other big forces such as Facebook and Twitter threatening MySpace, and we believe that MySpace should choose to differentiate themselves by developing their own social platform. CHANGE SLIDE
- Throughout this presentation, we will illustrate our proposed idea to you. First, we will go through MySpace’s features and how they are attempting to emerge as a leader in the social networking market. Next, we will describe how MySpace can use innovation as a strategy to become an industry leader, followed by an illustration of their competitors and how they are entering the social networking world. We will also go through the competitive advantage strategies that we think MySpace should use in order to be successful, and explain why MySpace should develop their application in-house
- From the beginning MySpace has been creating its own version of a social networking site, setting it apart from any others, initially Friendster. We don’t feel as though MySpace should change this strategy now. MySpace has offered more customization, control and user-friendly aspects than any other sites had at the time. Ahead of any other players in the industry MySpace was experimenting withCHANGE SLIDE
- blogging, instant messaging, mobile capabilities and video uploading.Looking at any industry, the leaders in the marketplace are the leaders in innovation. They spend most of their time at the drawing board and taking risks when necessary, and also before its competitors do.CHANGE SLIDE
- MySpace has also attempted to show innovation by going global. In 2007 MySpace took off globally, and had hundreds of millions of people around the world visiting their site each month. While attracting global users, MySpace attracted popularity in different regions. For example, MySpace.com (62 percent) attracted approximately two-thirds of its respective audiences from North America. That said, MySpace has already amassed a large international visitor base and both appear poised to continue their global expansion. MySpace should use their innovation ideas from their global outreach and apply them to developing their own social platform.CHANGE SLIDE
- Facebook, one of MySpace’s biggest competitors, has wisely chosen to create a proprietary platform rather than use an open-platform, which is one of the many reasons why we think MySpace should do the same. Although using open-source social networking platforms via the internet is inexpensive and commitment-free, MySpace’s current dilemma with Facebook is beginning to take over the industry does not call for a quick, cheap or temporary solution.For MySpace to respond to Facebook’s strategic moves in the marketplace, innovation will be key.Using Google’s OpenSocial platform would mean that other social networking sites also using this platform would offer the same applications and tools. This would defeat the purpose of strategically responding to other players in the industry. MySpace needs to distinguish itself from competitors. In this case, we encourage your company to create a social platform all its own. CHANGE SLIDE
- We believe that MySpace should use a combination of the differentiation and innovation strategies in order to gain competitive advantage from its competitors. The differentiation strategy would help MySpace offer services different than its competitors, therefore, users will be attracted to MySpace instead of its competitors. Also, MySpace can develop existing applications using the innovation strategy for competitive advantage in order to focus on making user’s experience great. By using both of these strategies, MySpace can gain the advantage needed to stay successful in the social networking industry. CHANGE SLIDE
- By creating a social platform all on its own, MySpace can design and utilize any type of participation tools they desire. The company will also be able to show a positive return on investment since MySpace would own all of the data and content that its members provide. In addition, as a private label platform, metrics and reporting dashboards can track behaviors or members far beyond the usual site activity. Detailed profiles of each member will allow MySpace to send very targeted emails, relevant to its users. MySpace community members would be very pleased with the accuracy of marketing and personalization that the site will offer. Lastly, by opening their own social platform, MySpace would now be able to compete with Facebook. CHANGE SLIDE
- Although developing their own social platform would require MySpace to have a large initial investment, they will experience long term positive returns on investment that will they will benefit from. CHANGE SLIDE
- By developing their new social platform in-house, MySpace will not only get to decide its features, but they will be able to chose what they want it to look like. MySpace can also have more reliability in the application because they know they it will be finished it time because they are developing it themselves. Also, by MySpace developing their own application in-house, competitors will have to make their own application in order to compete with it.CHANGE SLIDE
- In conclusion, based on the information our team provided it is clear that MySpace should develop their own social platform and they should develop it in-house. Even though there will be a large investment required initially, MySpace will experience large gains as the platform gest introduced to its users. Thank you for taking the time to listen to our presentation, and we hope that you will agree with our proposal.