Social Networking - The Next Great Marketing Medium?

There has been a virtual explosion of social networking sites in the past couple of years. Even the big players like Google, Yahoo and MSN are getting into it. With so much interest in how social networks work, one begins to wonder if there is marketing potential within these social networks? There are many bands who have gotten their start on MySpace. Simply by hosting some of their music online and blogging about themselves they developed a following. Soon they had record deals and contracts lined up. Of course to use services like MySpace you need to have something this target market needs. If you don’t then you probably shouldn’t put too much effort into MySpace. But that doesn’t mean other social networking opportunities should be overlooked.