Data analytics platform Biotron has developed a go-to-market strategy that rewards users before they even start sharing their data through its mobile application and other tools.
The business will use location intelligence to provide brands with insights into their customer base and analytics of their retail chain. In return, users get shares of the revenue before they join the platform. Once they opt-in to Biotron’s mobile application and start providing their data, they will be able to cash out in BTRN tokens or cash.
“Similar to many other companies we had to solve a chicken and egg problem,” Biotron CEO Pavol Magic said. “Without users, we can’t create intelligence reports for our clients to generate revenue. And without revenue, it’s hard to attract users.
“We’ve decided to license third-party datasets to power our products and we’ll start attributing revenue to the contributing advertising ID. Once the user installs our mobile application, there will already be revenue waiting for them. In turn, we’ll be able to collect data through these apps.”
Licensed and collected data, such as places of interest and movement data, will be used to create user profiles, audiences, and attributed visits. Collectively, this information will be used to create intelligence reports for brands. They can include information on the customer base, performance of the retail chain, or best possible new locations. Audiences can be further used to precisely target a client’s online advertising campaigns.
Revenue from the sales of these intelligence reports will be attributed to users who contributed their data even if they don’t have the application installed. They will also be able to control what data is collected and how it is used, ensuring the level of transparency and privacy the user desires. Biotron will also use standard industry practices like pseudonymization to keep users’ information safe.
The mobile application allows users to provide ground truth data (such as their social demography), which will improve the algorithms that create user profiles and audiences, resulting in better report quality. These users will, in turn, be rewarded by higher earnings. Apart from the revenue share, Biotron will also use undistributed tokens for user acquisition and motivating users to share more data.
Biotron is set to tackle other use cases too, with the first one being healthcare analytics in cooperation with Diagnose.me, a leading online health platform. Traffic congestion comes next.
Users get control over what data is collected and how it is used and in turn they get rewarded by shares from the revenue. Clients get location intelligence reports of unparalleled quality for lower costs. Biotron fulfils its vision of enabling innovation through availability of data and bringing transparency to a somewhat tarnished industry.