- Major CPG brands Kraft and Sun-Maid partner with SRAX through BIGtoken platform
- BIGtoken continues global expansion, entering the EU market
- SRAX is building what it hails as the most valuable opted-in data set in the world
SRAX Inc. (NASDAQ: SRAX) is a digital marketing and consumer data management technology company that integrates all aspects of the advertising experience, including verified consumer participation, to deliver a digital competitive advantage for brands across multiple industries. The company is building additional value by empowering consumers to own and earn from their data through its consumer data management and distribution system, BIGtoken. Recently, major consumer packaged goods (CPG) brands Kraft (NASDAQ: KHC) and Sun-Maid launched programs on the BIGtoken platform, validating that marketers are interested in reaching consumers who have opted into being rewarded for their data. Both marketers are gifting consumers with BIGtoken points for making purchases of their products at Walmart (NYSE: WMT).
In a revolutionary new way to reward consumers, BIGtoken poses a few survey questions and then asks customers to scan their receipt with image recognition technology, which is built into the BIGtoken platform. Once this is done, the consumer is rewarded, and the marketer has a sale and statistical data on the consumer.
The most difficult aspect of launching a new data-based service is attracting the brands that see the data as an effective tool to reach their audiences. Once adopted by the market, these businesses can benefit from the windfall of ongoing value to their data sets. Many companies in the data space have experienced this, and, while traditional data providers such as Oracle, Experian and Transunion have benefited from the sales of consumer data, none have done it while rewarding consumers for their data.
Can BIGtoken change shopping patterns by rewarding consumers? If the use of coupons in this country is any indication, then the company could have a good shot at making a dent in the $760 billion consumer packaged goods market (http://ibn.fm/knlGL). In the Kraft and Sun-Maid programs, users are rewarded $1.50 to $2.00 for purchasing certain products at Walmart.
While the platform already has 16 million members, this type of integration can help it continue to grow, aiding SRAX in accomplishing its goal of creating the most valuable opted-in data set in the world. Further attraction of world-class brands like Kraft and Sun-Maid to the platform will continue to propel SRAX toward that achievement.
The platform offers benefits for both customers and marketers. BIG Rewards enables marketers to engage BIGtoken’s nearly 16 million users to participate in brand research and exclusive offers. This exponentially expands BIGtoken’s commercial capabilities and helps to solve data problems across the digital marketing and advertising industry. Additionally, through the BIGtoken platform, consumers are equipped to own and earn from their data. As consumers become more aware of the value of personal data, an expectation of privacy and options for compensation for the release of that data is building. Consumers are fighting back against large social-media platforms that overstep expected boundaries regarding data collection. Not only are customers recognized and rewarded through this platform, but marketers benefit as well, creating a mutually beneficial relationship unlike any of its kind in the data space.
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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