MySpace has announced the launch of the Community Builder advertising platform which will allow the advertisers to build and customize brand profiles on the social networking website.  The Community Builder is currently in private beta and is being tested by Deep Focus, an online marketing company.

The Community Builder platform will be available in both “Self-Service” and “Full-Service” versions and will provide 24/7 access to advertisers for updating their community profile and analytics to measure campaign performance and make real-time adjustments.

While the Self-Service version is aimed at advertisers familiar with MySpace and having technical skills, the Full-Service version will be provided by MySpace as an end-to-end and fully customized solution for community design, interactive applications and improved user experience.

I think the key feature in the Community Builder platform is the Analytics.  Lot of big brands are already using MySpace for engaging their customers using community features of the social network but lack the ability to measure performance.  If MySpace can offer accurate analytics on campaign performance to advertisers, it will become a very useful offering.

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