- SRAX’s BIGtoken platform gains relevance on heels of renewed focus on data-driven marketing
- BIGtoken recently launched various new initiatives, including use of sponsored surveys, Lightning Insights, sponsored actions and more
- Kraft’s recent BIGtoken-powered marketing campaign enjoyed 6.6% return on ad spend, far outpacing competing advertising campaigns launched by rivals
- The Publicis Groupe published its second study using BIGtoken’s Lightning Insights tool, highlighting platform’s quick, efficient ability to generate customer insights
In late 2014, UK cell provider Three introduced its award-winning ‘Holiday Spam’ campaign, promoting the mobile company’s roaming data offering which enabled customers to use their phones abroad at no extra cost (http://ibn.fm/6nIhv). The ad campaign featured people ‘spamming’ their friends with their holiday snaps, a concept which resulted from the company’s costly and painstaking investigation into people’s behavior while on vacation – a form of research which SRAX Inc.’s (NASDAQ: SRAX) proprietary BIGtoken platform has now appropriated into an efficient and accessible service offering. The rise of data-driven marketing and the ability to personalize and launch targeted ad campaigns has become critical in improving ad content quality and driving customer engagement. Moreover, it has also grown in significance as a result of a renewed focus by cost-conscious marketers in to their return on ad spends (ROAS). With the use of SRAX’s BIGtoken offering, companies are now able to tap into the platform’s 16.7 million subscribers in an instantaneous fashion – deriving invaluable and oftentimes otherwise inaccessible customer insights and feedback quickly and efficiently.
The BIGtoken platform was initially conceptualized as a means of enabling customers to monetize their data by marketing its access to interested counterparties. Advertisers were able to receive high-quality, targeted data while users were able to control what data was sold to whom, gaining compensation in return. However, the current reach and abilities of the platform far exceed its original intentions. Over the past two quarters, SRAX has launched a number of new initiatives within its proprietary offering, including the dissemination of sponsored surveys, Lightning Insights, insights-driven media as well as sponsored actions – all of which have contributed to the platform’s dramatic increase in monetization in recent months.
Leading up to the 2019 holiday season, global food & beverage giant Kraft Heinz Co. approached SRAX for assistance with its newest marketing campaign, one which would be tailored towards women located in a certain area and professing specific interests. Through the use of over 100 proprietary data points, SRAX’s BIGtoken platform was able to formulate a target audience for Kraft’s campaign which met the company’s desired criteria. The campaign was a notable success, resulting in a 6.6% ROAS for Kraft (http://ibn.fm/M6bc2). Kraft’s marketing campaign success was even more remarkable given that it was run concurrently with two other advertising initiatives, led by Walmart and Evite respectively, both of which failed to produce positive returns. Within an extremely competitive consumer packaged goods (CPG) industry, BIGtoken’s insights were instrumental in contributing to the marketing campaign’s success and driving new consumer activations.
“BIGtoken has evolved from a consumer opt-in data platform for advertising activation to a full-service marketing stack,” said co-founder of BIGtoken Kristoffer Nelson. (http://ibn.fm/cneW5). “Beginning with audience insights, marketers can discover profound insights about their target audience to activate against. From here, new insights and learnings are applied inflight to improve performance. And once the campaign concludes, locations and sales measurements are applied to further learn, optimize and iterate.”
However, BIGtoken’s abilities have not been limited to determining target audiences. During the COVID-19 outbreak, marketers and data analysts found themselves blindsided, unable to gain insights into their end consumers’ rapidly changing behavior as a significant proportion of their conventional tools were rendered largely useless by nation-wide ‘shelter at home’ orders.
Publicis Groupe, one of the world’s largest advertising firms, seized the opportunity to carry out a unique study utilizing BIGtoken’s Lightning Insights service, examining consumption patterns and customer behavior surrounding the Mother’s Day celebrations in May (http://ibn.fm/b3uRP). The study found that 84% of respondents had celebrated Mother’s Day 2020 in some way, with over 68% of respondents sending gifts, gift cars, or food to their loved ones – the majority of whom chose to do so through online means.
Marketers are increasingly able to use BIGtoken to gain rapid and insightful feedback into their target consumer group’s consumption habits, their planned purchases as well as their preferred acquisition methods. With global consumer brands increasingly on the lookout for newer and more creative ways to interact with their potential consumers (http://ibn.fm/6y2Vx), SRAX’s BIGtoken platform and the valuable insights generated by its captive subscriber base could find itself in greater demand than ever anticipated.
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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