Social Reality, Inc. (NASDAQ: SRAX), a digital marketing and consumer data management technology company announced today that Chicago-based, integrated marketing agency Blue Chip will activate anonymized self-attested, transaction, location, and social media data from SRAX’s BIGtoken app, which gives insight to opt-in information on consumer buying habits such as brands and stores frequented for major client advertising activations.
As consumers become more aware of the value of their online identities, brands are starting to implement practices that respect their consumers’ privacy and share of voice in the data ecosystem. This presents a challenge for marketing agencies, which rely on data accuracy for reaching a target audience of consumers at the right time. While data collection and targeting is a strong component of the marketing process, marketers are often challenged with data accuracy rates on average of 50%. Blue Chip is seeking to improve those accuracy rates with the help of applications like SRAX’s BIGtoken.
“We are excited to partner with Blue Chip, and applaud agencies like Blue Chip that recognize the importance of advancing data accuracy and validity. They are truly being proactive in supporting the new data economy,” said Kristoffer Nelson, COO at SRAX and co-founder of BIGtoken. “We’re confident our work with agencies like Blue Chip and other marketers will soon drive the entire digital advertising ecosystem toward improving data accuracy on behalf of the clients they serve. As marketers increasingly turn to data-driven solutions to grow their businesses, BIG assures the information collected about their target audiences meets their business needs in a consumer positive approach without regulatory risk. We’re looking forward to seeing the results from this initial rollout and expect BIG’s data accuracy will significantly raise the bar for what’s considered industry standard.”
“BIGtoken is unique within the ever-growing data marketplace for its opt-in approach, which gives consumers greater control over their data, while offering us the ability to make our client campaigns even more successful by being more accurate,” said Joy Mead, executive vice president and general manager of business leadership at Blue Chip. “We recognize the need for protecting customer privacy for our brand partners, and BIGtoken’s platform puts us ahead of the curve with respect to how we can both empower consumers and protect our brand equity through respecting data privacy and transparency of how their data is being used.”
“SRAX is pleased to work with Blue Chip and looks forward to helping them improve data accuracy with SRAX’s one-of-a-kind data marketplace,” notes George Stella, vice president of SRAX Shopper. “As we move into the new data regulation society, SRAX will be the company to solve marketers’ issues with accessing data in a transparent and compliant way.”