It wasn't long ago that Myspace was sitting atop the social media pile with over 100 million users in 2006 (which, at the time, was a very, very big deal). Fast forward a few years, and Myspace is now gasping for air, making a last ditch effort to remain relevant to users by integrating Facebook functionality into Myspace profiles. Big deal, you say? Well, getting a Myspace email with Facebook branding (below) is like seeing a Ford with a Chevy logo on the grill. Humbling for Myspace, to say the least.
It's a mighty fall from grace for the company that Rupert Murdoch bought for $580 million in 2005. It's also a great lesson in the fleeting popularity of social media channels. While the concept of social networking is here to stay, the tools we use to do so will continue to come and go. Social media users are fickle, and the next shiny nickel is right around the corner. In a similar vein, hitching a marketing strategy to a social network rather than a social media strategy can be dangerous. Know the tools, know their strengths, and keep an eye out for "what's next" lest ye be left with a stagnant Facebook app or an unengaged Myspace fan base.