My Small-Biz Space

The ever-popular online social network is fast becoming a small-business network.

MySpace is now home to countless pages of small businesses aiming to build some buzz, a grass-roots effort to reach customers who might otherwise spend all their money at the big players such as Starbucks and Barnes & Noble.

Frankly, analysts say, it's a no-brainer. One of the appeals of advertising online is reaching such a large audience, and Standard & Poor's equity analyst Scott Kessler believes there are many other benefits.

"Most importantly ... you can target advertising to a particular audience or based upon a number of criteria," Kessler says. "Also, the Internet allows for great measurement of the effectiveness of advertising. Another [important] element ... as we look at more-sophisticated types of Internet advertising is the ability to interact with current and potential customers online."

And MySpace isn't the only Internet forum through which small businesses can advertise and connect with customers. Creating customized Web sites and blogs are obvious ways to build brand presence online.

And for less work, and nominal (if any) fees, small businesses can turn to service sites such as MerchantCircle, which boasts of being a MySpace specifically for local businesses.

Through MerchantCircle, small-business owners can create a profile, complete with blogs, newsletters, pictures, maps and even coupons, to attract customers. Companies can also monitor feedback and communicate with clients, as well as connect with other local businesses in the area.

To view Brittany Umar's video take of today's segment, click here.