- Privacy regulations and changes in mobile apps reduce the supply of traditional data, leading to increased demand for new, fully compliant data solutions
- Reklaim offers a platform that rewards consumers for granting data access, produces verified datasets that marketer’s access for a fee
- Up to 30% of data being bought and sold in the market today is “dead” due to email bouncing, mobile ID deprecation, “Do Not Call” lists, and blacklisted IPs
- Reklaim’s solutions reverse the “bad data” trend with verified information consumers actively choose to share
- Market increase for data platforms is expected to increase from $1.42 billion in 2022 to $6.94 billion in 2029 at a CAGR of 25.4%
The days when companies collected consumer data and sold it to advertisers without their consent are rapidly ending as privacy regulations expand worldwide (https://ibn.fm/1EIxu). In addition, tech companies are taking action to reduce data mining by mobile applications (https://ibn.fm/4aqS2) drastically.
At the same time, advertisers still need data to fuel marketing strategies, leading to a growing demand for fully compliant consumer data solutions. Reklaim (TSX.V: MYID) (OTCQB: MYIDF) addresses that demand with a privacy-compliant identity ecosystem that gives consumers options to earn from their data while providing new datasets to brands and advertisers.
“The global data market has historically been built on collecting data unbeknownst to consumers and arbitraging it to as many different firms as possible for as much money as possible,” said Neil Sweeney, founder and CEO of Reklaim (https://ibn.fm/Phd8s). “This is quickly coming to an end, not only with accelerating changes in privacy legislation but also in how companies such as Google and Apple are quickly reducing the amount of data leaking from their products.”
Reklaim addresses that problem by supplying brands with fully consensual, consumer-verified data from users in the United States and Canada. The company’s ecosystem allows consumers to see how much their data is sold annually and how many companies are buying and selling their information. Users are also given options to earn points as additional compensation for answering polls- activities that produce additional verified datasets advertisers can access for a fee.
Reklaim’s solutions additionally increase data quality. Up to 30% of customer data is “dead” due to email bouncing, mobile ID deprecation, “Do Not Call” lists, and blacklisted IPs (https://ibn.fm/IIcqK). Reklaim’s data sets reverse that trend by providing current information from verified consumers that actively choose to share their purchasing behavior. Since better data leads to better advertising decisions, this business model is expected to contribute to the market increase for data platforms, from $1.42 billion in 2022 to $6.94 billion by 2029 at a CAGR of 25.4% (https://ibn.fm/OVtQZ).
Reklaim’s solutions come at a transformational time when legislative and technological forces are actively reshaping the consumer data market. The company’s ecosystem aims to redefine the sector by providing solutions that benefit both sides of the consumer data market by offering industry transparency, choice, and value.
For more information, visit the company’s website at www.ReklaimYours.com.
NOTE TO INVESTORS: The latest news and updates relating to MYIDF are available in the company’s newsroom at https://ibn.fm/MYIDF
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