For a man who claims he’s never had an actual job Chris Miglino sure knows how to make data work.
Mr. Miglino is the founder and CEO of SRAX, a provider of proprietary ad technology tools that offer brands, agencies, publishers and content owners new opportunities to target, reach and monetize their audiences.
SRAX provides several marketing services. They centralize media management onto one dashboard, allowing clients to compare different methods, customize reporting and control client analytic access. Budget allocation can be optimized in real-time via a customized scoring system and SRAX can be customized for a company’s unique KPIs.
SRAX Genome allows companies to target audience micro-segments with additional precision, Mr. Miglino said. A continuous feedback loop allows you to continually refine those units until the ideal audience has been identified. SRAX Social blends a social media management platform, social strategy services, technology and big data to improve a company’s digital performance.
Mr. Miglino said he’s always been an entrepreneur dating back to his college days. In the 1990s he founded Centerlinq, a company that tracked consumer data in shopping malls via an interactive kiosk system and frequent shopper program. In the 2000s he founded companies that created and distributed yoga and socially beneficial content and which fostered a community of yoga enthusiasts. He then served as the CEO of Lime Ad Network and LOHAS Integrated Media, an online ad network helping marketers reach green, healthy living and cause-related audiences. It provided marketers with a full-service contextual and behavioural targeting program and broad-based media buys.
“Technology is where I always wanted to be,” Mr. Miglino began.
SRAX started with selling ads on Facebook and grew over time thanks to contacts Mr. Miglino developed in the medical and pharmaceutical communities. It transitioned into several areas (some described above), including Blockchain Identification Graph (BIG) Token, a blockchain-based platform that allows consumers to own, verify and sell their own data.
Consumers’ personal data generated $130 billion in revenue in 2017 – for other people, Mr. Miglino said. With BIG Token, they can earn that money for themselves. When consumers sign up for BIG, they decide which data they share, and with whom. Thanks to the blockchain they can verify both the data and who is purchasing it.
“Early in 2017 we were thinking about the data buying experience,” Mr. Miglino recalled. “We thought ‘why not create a platform to allow consumers to own their own data’?
“Consumers don’t realize how much companies are paying for their data. There’s lot of people accessing consumer data and we feel those consumers should be rewarded.”
The SRAX system addresses the sense of privacy invasion we all experience when we get popups and pitches we don’t want and which are ill-suited to us, he added. It also helps advertisers reach their ultimate targets, and only those targets – the people who are actually interested in their wares.
The BIG Token has another important feature, Mr. Miglino said.
“We’re doing a security token, not a utility token. The utility token has seen its day. The SEC is at the end of that rope.”
Regulators are growing wise to companies issuing what are actually securities under the guise of a utility token, he added. Many are based off-shore in places like the Cayman Islands or Gibraltar.
“They hide the sales tax through offshore entities then list on an exchange not approved by the SEC,” Mr. Miglino said.