Controlling your social network advertising may get simpler with the addition of MySpace’s self-service ad platform, launched in public beta this week. The platform is available for use by individuals and companies to promote themselves on the MySpace network.

The platform allows users to select the audience, target ads according to gender, age, region, city or state and even their interests. The targeting is based on information provided in MySpace user profiles and by their IP address. Pricing for the platform begins at $25 and can run up to $10,000; ads are pay-per-click. The ads can be created by customizing an existing MySpace ad template or can be created by the business’ own creative team.

According to a recent report from Hitwise, MySpace remains the top social network in the US with a 71% market share. Competitor Facebook ranks second with only a 16% share; however Facebook showed year over year growth of 40% while MySpace’s YoY actually reduced by about 6%. More than 75 million users logged on to MySpace in July; an increase of just over 2 million since June.

Social marketing has been shown to help marketers increase their brand recognition and develop a deeper loyalty. The nature of social networks allows consumers to feel they are a part of the brand. Utilizing social networks to increase brand recognition and loyalty is a smart move for marketers.

Tags: audience target, brand recognition, competitor, consumers, creative team, facebook, ip address, loyalty, market share, marketers, myspace, network advertising, public beta, self service, smart move, social marketing, social networks, target ads, user profiles