- California
Consumer Privacy Act presents opportunity – not inhibition – to data
management companies
- SRAX
prioritizes consumer experience as well as the consumer’s ownership of
data
- Launch
of new program allows public companies to conserve cash, purchase ads with
stock payments
Digital marketing and consumer data management technology
innovator SRAX Inc. (NASDAQ: SRAX) is adapting to and overcoming
the new challenges of 2020. From new laws regarding data collection and
elimination of social gatherings due to stay-at-home orders, SRAX is helping
consumers and the brands they trust stay connected.
The California Consumer Privacy Act (CCPA) has presented
both challenges and opportunities to businesses regarding data privacy
regulations. Following the precedent set by the 2018 General Data Protection
Regulation (GDPR), California set out requirements of its own that are
anticipated to influence similar legislation across the rest of the United
States.
In a recent article, Tech News World identified these legal
implements not as inhibitors to business but rather as opportunities for the
industry to enhance customer experience (http://ibn.fm/Rglz3). Consumers who opt into the sharing of
data are more likely to fully engage with brands. What some see as inflexible
standards of the CCPA can actually be mechanisms to help companies build trust
and transparency with an interested audience.
While many in the data management realm are playing catch-up
to these new legal requirements, SRAX has prioritized customer control from its
inception. The Company provides all stakeholders – marketers, content owners
and consumers – tools to unlock the value of data. All of the data collected by
SRAX is opted into by the consumer, making it more valuable with long-term
recurring revenue to the companies who access the collected information. Not
only are consumers receiving a better overall experience from the companies
they choose to interact with, but the companies are accessing high-quality data
with higher conversion rates – a win-win situation orchestrated by SRAX’s
strategic design.
2020 has brought more changes then data privacy. In fact,
more people are online right now than ever before. Social distancing has forced
the world out of the office and into cyberspace, and companies are having to
pivot quickly to meet the new needs of their consumers. Understanding this new
challenge and the opportunity accompanying it, SRAX launched a Stock for Ads
program (http://ibn.fm/OusoP).
This new program allows public companies to conserve cash by purchasing media
across all marketing channels with stock payments.
“We understand what it means to be a publicly traded company
and we want to help businesses continue, not halt their marketing efforts,”
SRAX founder and CEO Christopher Miglino stated in a news release. “With our
custom media plans, businesses can attract and engage customers with digital
ads, covering expenses up to a year in exchange for stock of their company.”
Now more than ever, people are seeking community. The new
virtual happy hour (http://ibn.fm/oBpCb)
is evidence to how, when faced with any odds, humans still seek connection.
Consumers are turning to the tools they have on hand, and those tools are
digital. SRAX has worked hard to create a platform that empowers the consumer
to take charge of their digital content. When companies sign up, they are
communicating to potential consumers that they value and respect their privacy.
They are seeking a relationship built on trust and loyalty and aren’t looking
for shallow connections. SRAX provides a platform that enables both consumers
and brands to reach their full potential.
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
About MissionIR
MissionIR is
primarily focused on strategic communications. We have executed countless
communications programs to address the needs of companies ranging from
start-ups to established industry leaders, gaining valuable experience and the
expertise necessary to determine the most effective strategy for any given
situation.
For more information, visit www.MissionIR.com
Please see full terms of use and disclaimers on the Mission
Investor Relations website applicable to all content provided by MIR, wherever
published or re-published: http://www.missionir.com/disclaimer.html
