- SRAX Inc.’s BIGtoken platform provides big data insights, analytics derived from its over 16.7 million users
- Big data is increasingly being used by companies, advertisers to adjust their business models, products to cater to customers’ rapidly changing wants and needs
- SRAX has carried out targeted marketing campaigns for variety of large clients which have resulted in positive return on advertising spend
- Recent study by MarketsandMarkets has estimated that Big Data industry will rise to $229.4 billion by 2025, implying growth of 65% over next 5 years
SRAX (NASDAQ: SRAX), a digital marketing pioneer focused on providing consumer data management services, has long been focused on helping consumers gain control over and monetize their digital data footprints. Through its revolutionary BIGtoken platform, which boasted 16.7 million users as of the end of the first quarter of 2020, SRAX enables its members to provide their advertisers with access to verified consumer data which can in turn help companies better reach and serve their audiences. Now, with a recently released study showing that the ‘Big Data’ market is set to grow from $138.9 billion in 2020 to $229.4 billion in 2025, implying a compounded annualized growth rate of 10.6% (http://ibn.fm/ZrNlF), SRAX’s commercial prospects look more promising than ever before.
Big data and its ability to depict online consumer behavior have long been used by companies seeking deeper insights into their customers. Netflix, the world’s largest video-on-demand streaming platform has been one of the early and most avid users of big data analytics. As early as 2009, Netflix famously launched a contest offering a prize of $1 million to the group which could come up with the best algorithm for predicting how customers would like a movie based on previous ratings. Today, the company’s film and TV show recommendation system is said to influence about 80% of the content which is streamed on the company’s platform (http://ibn.fm/wLziA). In this scenario, the use of big data analytics and the insights derived from Netflix’s hundreds of millions of users has allowed the company to tailor their content to match customer expectations, license or produce new movies and TV shows based on the expected customer response, and ensure that their marketing campaigns are resulting in an adequate return on advertising spend (“ROAS”).
SRAX’s BIGtoken platform has sought to capitalize on the growing demand for big data analytics through its broad user base as well as its extensive range of functionalities. Towards the end of 2019, the platform introduced the BIGtoken Lightning Insights functionality – a revolutionary tool which allows SRAX’s customers to instantly activate research and surveys about virtually any topic and pose it to BIGtoken’s extensive user base. Companies can choose to address their queries to BIGtoken’s extremely wide and diverse user base or opt to target extremely niche demographic and socio-economic sectors through the product’s over 25,000 points of segmentation and receive actionable audience insights within a matter of mere hours (http://ibn.fm/cDZYN).
The platform’s unique capabilities were recently highlighted during a campaign which the Company carried out for the Kraft Heinz Co. Through the use of SRAX’s BIGtoken tool, Kraft was able to launch a targeted marketing campaign which resulted in a 6.6% return on ad spend (http://ibn.fm/uIyNg). SRAX’s management highlighted the potential of their proprietary marketing solution by contrasting the Kraft campaign to those recently carried out by Walmart and Evite, which delivered flat and negative returns, respectively. Moreover, the company also revealed that the positive returns from the marketing campaign had prompted the client to subsequently follow through with a “really big purchase”.
With the use of big data increasingly becoming a priority for any advertiser, SRAX’s BIGtoken platform has devised a method by which it can provide its customers with near instantaneous and actionable intel on-demand, thereby allowing companies to forgo the oftentimes significant investment needed to create an in-house analytics team and rather focus their attention solely on transforming the data gleaned through BIGtoken into productive marketing campaigns. With the big data industry set to nearly double in size over the next 5 years, SRAX and its proprietary platform seem well-positioned to benefit from the swelling tide of growth.
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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