The first campaign I ran on Myspace was a dud. I made some cash, but not enough to break even. Total spend was $1200'ish.
Second time around I decided to go with an offer that most people wouldn't touch and it did VERY well, and continues to do so. I've spent upwards of $10k on this and am doing well.
The third time I'm setting up now, and plan to spend A LOT. So hopefully it really pays out because I'm at the limit with all of my cards, and until that wire shows up, I'll be tapped the fuck out.
Myspace traffic isn't search traffic, so paying $0.30+ per click is perfectly justifiable now. Social media traffic is crummy for the most part, thats why you have to do your media buys in VOLUME. You have to target your LP to the traffic you're getting. Its all a pain in the ass, but it works. Many people I see advertising diet specifically aren't even using landing pages because they are so damn lazy. I did that in the beginning and lost cash.
Some of you guys should take a step back and ask yourself if you're really cut out for it or not. If you fail once and just give up, then you're doomed to fail many times over in the future.
I'm also going to invest heavily in other social media, as there is A LOT of cash to be made.
I was talking to a network friend of mine the other day about a dating offer someone pushed via Myspace and it brought in over 10k signups in a matter of a few hours flat. THAT my friends, is power. Granted the offer cost him a shitload of cash, it was clearly worth taking a chance on it.
Get in while you still can and while there is still gold to bank from!