- SRAX, via its BIGtoken platform, has developed a consumer-managed data marketplace
- The Company also has its BIGresearch program that extracts data and insights from its BIGtoken audience
- In addition, SRAX has its Lightning Insights program that gives businesses knowledge by returning first-rate audience insights
In today’s economy, personal data has become an incredibly valuable commodity. Companies that are able to walk the tightrope of leveraging consumer data while upholding stringent privacy expectations are hard to find. However, SRAX Inc. (NASDAQ: SRAX) is at the vanguard of developing a consumer-managed data marketplace that gives consumers control over their information. SRAX, a digital marketing and consumer data management technology enterprise, offers consumers the ability to own their own data and get paid for its release. Additionally, the Company’s technology and tools unlock data to reveal core consumers and their characteristics across marketing channels for brands in a variety of verticals. Through several new initiatives, SRAX continues to leverage consumer data to innovate in the evolving economic landscape.
One of SRAX’s latest initiatives is its web portal for the research side of BIGtoken – BIGresearch. Fundamentally, BIGresearch connects businesses to global first-party data that is uniquely consumer verified and opted in. With a nod to data’s increasing value in today’s economy, BIGresearch extracts data and insights from the Company’s BIGtoken (consumer-managed data marketplace) audience of more than 16 million registered users and enable businesses to obtain answers to any market, brand, customer, and product questions from various panels (http://ibn.fm/d8yDB). This data represents users in more than 40 countries with more than 10,000 populated segments. The panels categories include B2C Panel (Business to Consumer), B2B Panel (Business to Business), and Healthcare Ailments Panel.
Another recent initiative is the promotion of BIGtoken’s Lightning Insights solution. Lightning Insights allows brands to quickly access research and surveys regarding their brand, product, or industry. It returns valuable audience insights quickly to the brands that need them (http://ibn.fm/T3U4s).
Offering an accelerated road to data acquisition, Lightning Insights has the ability to activate research and surveys and get results in hours. Therefore, in times of uncertainty and change, brands can come to better understand how circumstances are affecting their target audience so they can act accordingly. With Lightning Insights, brands get access to SRAX’s global bank of consumers, targeted research and surveys to gain insights about their audience, and a rich data graph including location and transaction history.
Consumer data is of great value to businesses in this day of market fragmentation, and brands need to better understand their target audiences. The CDP (Consumer Data Platforms) Report 2020 notes that “Businesses are feeling the very real effects of fragmented customer data every day. IBM (http://ibn.fm/B5a57) estimates that bad data costs the US $3 trillion each year.” The report also notes that “There was a time when businesses were happy to collect simple vanity metrics like new signups, downloads, or pageviews… Nowadays, the appetite to understand the entire customer journey extends way beyond that.”
SRAX’s focus is its consumer-powered data management platform that rewards consumers while enabling businesses to obtain fully informed consumer opted-in data. Also, issues of privacy and data ownership are of increasing concern to consumers. They expect to keep data private, privacy laws on both the state and federal level are putting the value and control of data back in the hands of consumers. Social platforms such as Facebook, Twitter, Snapchat, LinkedIn and others are facing backlash from consumers over privacy concerns.
SRAX’s BIGtoken solution enables consumers to own their own data and get remunerated for the release of their data. With BIGtoken’s secure platform, consumers have control over what data is shared, who can buy it, and how it’s used (http://ibn.fm/OOVY2). Furthermore, businesses gain consumer data that is passed through numerous layers of verification for premier accuracy.
With the Company’s BIGtoken platform, consumers receive rewards (cash or gift cards) when they opt to share their data (http://ibn.fm/jY5nq). Of note to investors is that SRAX is building technology that is creating proprietary data for the Company, posing the benefit of long-term recurring revenue.
SRAX continues to focus on building the most valuable opted-in consumer data set in the world. The Company’s mission is to provide consumers choice, transparency, and compensation for their digital data. For investors, SRAX is formally launching BIGtoken into a number of global markets as it works to monetize its data sets, growing multiple recurring revenue streams through its different platforms.
For more information, visit the company’s website at www.SRAX.com
NOTE TO INVESTORS: The latest news and updates relating to SRAX are available in the company’s newsroom at http://ibn.fm/SRAX
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