Chris Miglino, CEO & Founder
The rise of the social web has led to the escalation of online promotional opportunities. What started as a way for people to connect and share their personal and professional experiences online has culminated into a major phenomenon being accessed by nearly 2 billion people globally. Social media channels such as Facebook, Twitter, and YouTube have been united by visually-driven networks, mobile apps, social gaming, and shopping programs. Today, social media advertising has become the key to increasing brand visibility. It is altering how firms market and sell their products and services— overhauling outdated approaches with analysis of consumers’ shopping history.
Instead of reactively targeting shoppers, social media advertising proactively presents relevant options before consumers even begin their search.
Going beyond general the demographic and geographic data, social media advertising opens the door to deeper interest, behavioral, and connection-based targeting methods. Along with social media advertisement, Real-Time Bidding (RTB) has gained momentum— buying and selling of online advertisement impressions through real-time auctions. Automating digital advertising with a focus on the RTB market and social media is LA-based firm, Social Reality [OTCMKTS:SCRI]. The company provides tools that enable publishers and advertisers to maximize digital advertising initiatives. Social Reality’s programs generate quantifiable engagement for clients, thereby driving revenue and increasing brand recognition. The company also develops custom Facebook applications to help grow customers’ social media presence and drive brand engagement.
Automating Digital Advertisements
With an aim to help Facebook applications monetize their products, alongside assessing brand marketing, in March 2010, Social Reality’s CEO, Chris Miglino, together with the now CIO, Erin de Ruggiero, started selling advertisements on Facebook. From providing advertisements to developing customized applications for large brands, the company went on to develop two out-of-the-box products—GroupAd, a brand loyalty platform and SRAX, an RTB platform.
Social Reality’s platforms connect online publishers with demand-side partners and buyers, provide targeted and measurable Facebook advertising campaigns, and offer brand advocacy and customer loyalty campaigns all through proprietary technology.
“Social Reality is in the business of automating the advertising technology, assisting brand advertisers and publishers execute transactions on the RTB platforms and social media,” says Miglino. “Our proprietary technology connects the social and digital spheres to offer brands, agencies, and publishers new and measurable opportunities to target, reach, and monetize their audience.”
The company’s GroupAd provides instant rewards and feedbacks to consumers—assisting brands know who their influencers are so they can further accelerate their marketing efforts. SRAX, on the other hand, helps users take advantage of the benefits of RTB by managing the client’s targeted buys with a customized strategy that optimizes campaign impact and achieves real results in real-time. Both Social Reality products balance each other to achieve the Social Reality vision—automate and make digital ads available, affordable, and efficient for businesses of all sizes.
Library of Social Media Apps
GroupAd is built with an extensive background in social media, consumer, and cause and influencer marketing, offering a complete group of easy-to-launch brand campaigns that drive measurable influence and engagement. It acts as a library of social media marketing apps that allow brands to identify and reward their most valuable customers through compelling contests and content. An integrated dashboard tracks campaign performance and delivers insights into brand advocacy and customer loyalty. Detailed analytics, including demographic information, enables precise personalized retargeting that increases campaign ROI.
Social Reality has worked at the intersection of social apps, gamification, and e-commerce. Working with clients like Target, Toyota, Merrell, Kenmore, Chico’s, and Macy’s, Social Reality’s solution brings together social design, peer-to-peer referral, and rewards. The company recently assisted Kenmore Appliances—a brand of household appliances sold by Sears—grow its fan base for Kenmore and Cookmore.com—a Kenmore recipe website. Social Reality crafted a dream kitchen design contest that lived on the brand’s fan page and as a standalone mobile app. The users who collected most points by dragging and dropping items from kenmore.com, designing rooms with those items, or inviting their friends to participate won a Sears gift card. Contest entrants agreed to receive additional information from Cookmore and also signed up for e-mail newsletters. Social Reality ported all the email addresses to Cookmore with an instant API call and created all the key performance indicators based on engagement with the application, tracking ‘likes,’ time spent, tweets, and click-throughs.
A Single Intuitive Platform
The powerful SRAX RTB platform instantly connects online publishers with multiple demand sources in real-time to earn the highest eCPM on every impression.
Our proprietary technology connects the social and digital spheres to offer new and measurable opportunities to target, reach, and monetize their audiences
In the SRAX RTB system, impressions are placed for auction as they become available. Each bid request is exposed to competing direct and indirect demand sources according to a series of pricing and creative rules set by the publisher. Sophisticated algorithms sort and evaluate returning offers to identify the highest bid that meets the publisher’s criteria. SRAX allows publishers to sell multiple formats of inventory—from mobile, desktop, and video to in-app advertisements—in real-time from a single intuitive platform. With multiple formats and multi-device optimization, publishers gain more opportunities to monetize their inventory and increase revenue.
"Social Reality is in the business of automating the advertising technology assisting brand advertisers and publishers to execute transactions"
Developing technologies to bring social and PR services to the SRAX platform is SRAX Digital Impact—Social Reality’s in-house social marketing services team that works with brands to develop tailored, integrated marketing. From robust digital marketing and media relations campaigns to brand management and positioning, SRAX Digital Impact works with brands to develop creative social and media strategies that have a measurable impact. Additionally, SRAX App allows advertisers to make their content mobile-friendly while saving on the development cost of building an app from scratch.
SRAX also has a programmatic advertisement exchange platform built specifically for the healthcare industry— SRAXmd. The platform integrates with leading medical content publishers, apps, associations, and websites, to offer agencies and brands the ability to reach a verified audience of healthcare providers.
As the social web grows and becomes increasingly complex, the variety and number of promotional opportunities will become more overwhelming—both for larger brands seeking to create a cohesive consumer experience and for smaller brands with limited resources. Social Reality’s array of turnkey tools will continue allowing brands to effectively master this growing social landscape, while developing and deepening their relationships with many influential consumers. The company aims at automate online advertising and digital marketing activities, building the future of the digital advertising space with tools that improve brand performance.