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Making money on MySpace without an account is perhaps the best way in which you can make money through MySpace. Not only does it remove the risk that other methods require (i.e. putting your account at risk, risking a lawsuit, etc.), but it also requires a considerably smaller amount of work.

In order to make money on MySpace without an account, all you have to do is find people on MySpace who can make money for you. This is especially inexpensive if these people do not know that making money with their accounts is a possibility; however, on the other hand, it will be a lot easier to find the right people and convince them to do this if they already do it on a regular basis.

So how do you go about doing this – making the connections and then setting up the ads?

You can start by finding people who are outright selling MySpace bulletins or private messages. Before you ask them to send out a bulletin for you, you will want to join their list as a friend and monitor them for a minimum of a week. See whether or not they send out bulletins every day. If they do, chances are that few people are reading them.

Once you have tested the person selling bulletins, you will then want to check out their offer and compare it with others. How many friends do they have and how much are they charging? Is their list composed of any specific segment of the population? Are they sending out bulletins or private messages? These are all important things to keep in mind when considering price.

You will then want to test out various bulletin sellers with various friends list sizes. Determine which one has the best response; and then stick with that one as much as possible.

Additionally, remember that you are attempting to sell to the same crowd, so you will want to take a different approach each time. Use contests, giveaways, and events that attract customers for purposes other than buying. This will ultimately yield more sales.

In addition to setting up a MySpace profile and advertising your business through a network of friends, you may also want to consider advertising directly through MySpace. MySpace allows you to do this in a number of different ways.

One way in which you can advertise on MySpace is through “video ads.” These flash videos are placed in various spots throughout MySpace. These can either be in the form of a video screen or a banner, which pops out into a movie with a viewer hovers his or her mouse over the banner.

These are the most expensive of all forms of advertising MySpace sells; however, they are also reputed to have the highest click through rates, too. Depending on the price you want to pay, you can select the places in which these videos play and the amount of views you receive.

If you’re looking to pay less for advertising, you may want to purchase something cheaper, such as a regular banner ad, a text ad, or an image ad. All of these are relatively inexpensive; however, MySpace may require you to purchase a high volume of impressions, as most of their advertisers have budgets well in excess of $5,000.

This advertising certainly isn’t free, but it may be more effective in the short run, as it will allow you to immediately drive visitors to your profile or to your website without spending the time to build up a massive friends list, to join groups and forums, and to post semi-regular bulletins, reminding people to check out your profile.

Another major advantage to advertising directly through MySpace is that they will segment the demographics for you. For instance, if you just want to advertise to people who are in bands, they will set your ads up in the optimal place to reach that demographic.

With that being said, if you are serious about advertising on MySpace, you may want to send them an email to inquire about their rates and positioning. They will send you a media kit to help you determine what is best for your business.

At this point, it is a good idea to look back on what we’ve talked about so far and reiterate the different techniques and steps needed in order to make money on MySpace. Let’s start with the basics:

1. Create a profile on MySpace.

Before you do anything else on MySpace, you will have to create a viable profile that will actually convince buyers one of two things: 1) you are another human being; or 2) that you are a serious, professional business. Either option is fine; however, you must clearly demonstrate either in your profile.

2. Advertise on MySpace.

This requires some start-up cash, but if you have it, it may be one of the wisest moves you make. This is especially potent if you already have a profile setup on MySpace. You can simply advertise, drive traffic to that page, add friends to your list, and then send them periodic bulletins, as if you were sending out mailings to a list.

3. Purchasing bulletins on MySpace.

This is another effective technique for marketing on MySpace. Rather than going directly through MySpace, you can find people who have large friends lists and ask them if they are interested in “selling” a bulletin to you. You can either write this bulletin as you would a solo ad; or you can use it to announce some contest, which is probably a better option.

4. Use private messages to make sales to individuals.

Private messages keep the tone somewhat more personal than a bulletin would. Additionally, you will want to use first names when communicating through messages.

5. Don’t ever spam your friends lists.

Remember that commercial uses of MySpace are not exactly encouraged; however, they may be tolerated, provided that your efforts are not overt and disruptive. For this reason, you will want to remain low-key. Avoid getting flagged or reported.

Follow all five steps and techniques I’ve outlined above and you’ll have a good chance of making money on MySpace. All you have to do is find the right market and then figure out how to segment them from the rest of the crowd.