- Forbes offers invaluable advice to company execs during fragile economies
- Christopher Miglino outlines three steps to follow in troubling financial situations
- Open, honest, direct communication key during major crisis, advises CEO
SRAX Inc. (NASDAQ: SRAX) CEO Christopher Miglino authored a recent Forbes article that provided valuable insight and advice to executives leading companies during fragile economies (http://ibn.fm/cfHOM); Miglino is a member of the invitation-only Forbes Business Council comprised of successful entrepreneurs and business leaders. In the article Miglino offered critical insights on staying connected with investors gleaned from his two decades of experience working in the digital space.
Titled ‘Communicating with Investors and Understanding Their Behavior During a Major Crisis’, the article noted that, during uncertain economic times, “it’s important to understand how your investors are reacting to their positions in your company and how to utilize the latest technologies to communicate with them.” Miglino recommended leaders take three important steps during troubling financial situations.
Step 1: Understand Who Is Sticking with You. “While many issuers don’t put a lot of value in retail investors, many of the smaller-cap companies are dominated by high-net-worth individuals with significant positions in the company, but who don’t meet the threshold to have to file with the SEC,” wrote Miglino. “Especially in volatile times, issuers need to understand what both institutional and retail investors are doing in real time. Waiting is just not an option.”
Step 2: Comfort Them with a Communication Strategy. “Reassure your investors by establishing a communication protocol,” Miglino suggested. “Let them know you’ll be sending out a weekly or biweekly update in which you conduct a comprehensive analysis of your company’s position and business strategy moving forward.”
Step 3: Engage Investors on Social Media. In the article, Miglino observed that investors turn to social media for news and updates. “With targeted social media campaigns, you can reach former and current investors across devices whenever they go online,” he said. “Current targeting capabilities allow for companies to make sure that investors are seeing your data even if they miss a press release or filing that the company has put out.”
“All in all,” concluded Miglino, “during a major crisis, it’s extremely important to be open, honest and direct with your shareholders. They deserve it. Put yourself in their shoes, and that realization should click pretty quickly. Stay smart and calm, and the rest will follow.”
Miglino is ideally qualified to share insight and suggestions to leaders of publicly held companies. He has spent the past two decades working in the digital advertising space and has successfully launched and sold two companies; both of those companies were sold to publicly traded companies on the NASDAQ. Currently CEO of SRAX, a digital marketing and data-management-technology company, Miglino has extensive experience and understanding of how to lead companies to success and growth.
SRAX’s technology and tools unlock data to reveal core consumers and their characteristics across marketing channels for brands in the CPG, investor relations, luxury and lifestyle verticals. Monetizing its data sets, SRAX is growing multiple recurring-revenue streams through its various platforms, including its exclusive BIGtoken platform. SRAX has developed a consumer-managed data marketplace where people can own and earn from their data, thereby offering everyone in the internet ecosystem choice, transparency and compensation.
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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