CitrusAd is the world-leading, white-label, self-serve, ecommerce ad-serving platform that enables retailers to monetize their digital shelf-space while enabling brands to increase sales by launching targeted and cost-effective digital campaigns into retailer websites. Since it was launched in 2017, CitrusAd powers the fastest growing ecommerce ad network in the USA and has become the global, retail industry’s preferred ad-serving platform, service and retail media sales organization. Successful retailers, in all verticals across 25 countries are leveraging the CitrusAd platform and real-time relevancy engine to create a more personalized shopping experience and deliver greater ROI for suppliers. For more information, visit https://www.citrusad.com.
Check out this interview with former AFL footballer and eCommerce entrepreneur Brad Moran, who last year sold his four-year-old business CitrusAd for $205 million. In the hour-long chat with Add to Cart podcast host Nathan Bush, Brad explains how CitrusAd became a $200M+ acquisition target by enabling retailers like Woolworths and Coles in Australia and Tescos and Target internationally to monetise the “digital shelves” on their eCommerce retailing sites.
In an episode called Horses are Better than Unicorns, Brad explains how he grew CitrusAd by listening and responding to retailers and equipping them to earn from $5000 a month to $10 million a month in extra advertising revenue. He also reveals how growth stalled for CitrusAd during the first six months of the COVID-19 pandemic and warns that Australian retailers need to embrace digital retail media systems within 12 months in order to defend themselves against an onslaught by the “Amazon ecosystem” within the next three to five years.
You can listen to Brad Moran’s Add to Cart interview at https://shows.acast.com/add-to-cart/episodes/horses-are-better-than-unicorns-the-citrusad-story-164.
Australian retailers have a “12-month window” to deliver retail media platforms that respond to how the pandemic has fundamentally reshaped customer behaviour warns CitrusAd CEO Brad Moran.
The explosion of online ordering driven by COVID-19 has seen digital retail media spending soar. In the US, retail media advertising expenditure hit US$31.49 billion during 2021 – a 53.4 per cent increase on 2020 – with a trajectory to top US$50 billion during 2023.
Mr Moran said many Australian retailers were failing to capitalise on this marketing megatrend because they lack the in-house expertise and experience to build a retail media advertising platform that could compete with Amazon, Google and Facebook. “They have a 12-month window to recognise and respond to how the pandemic has flipped the script for brand advertising in retail media,” he said.
Australian digital ad platform CitrusAd has announced the signing of five major international retail clients, including Groupon in the US and Sainsbury'sbury's in the UK, as revenues more than double to AUD$1 million a month thanks to a COVID-inspired online shopping boom.
Brisbane-based Citrus, which has also opened its third office in the US, currently supports 40 retailers in 22 countries, serving 28 billion ad requests annually. It has achieved 2000 per cent growth compared to this time last year. To this, Citrus will add Sainsbury'sbury's, one of the two largest supermarket chains in the United Kingdom, and Chicago-based Groupon, the American global e-commerce marketplace which connects subscribers with local merchants by offering activities, travel, goods and services in 15 countries.
Following a spate of recent deals, CitrusAd will now also be used globally by Ocado (the world’s largest dedicated online grocery supermarket), PC Components (Spain’s leading digital e-tailer), UK retailer Argos and leading international technology distributor Tech Data.
In Australia, the CitrusAd digital advertising platform is already used by major retailers including Coles, Woolworths, Officeworks and Dan Murphys. Launched in 2017 by former Adelaide Crows footballer, Brad Moran, CitrusAd is a retail SaaS (Software as a Service) company that turns retailer websites into revenue-generating digital advertising platforms.