In order to be effective, an advertising review must be rare and surprising. It should move away from the traditional forms of advertisement. An example is King Kong advertising review that the digital agency used as a solution to its demand for top talent. The reviews are creative because they come from the employees themselves.
CitrusAd is a Brisbane-based online advertising technology start-up that was founded by former AFL player Brad Moran. He was able to raise $6.5 million from Moelis Australia Venture Capital for the start-up that sells a software platform to retailers so that they can monetize their digital real estate. Product placements on websites are treated like physical space. Best spots are charged a premium.
According to Moran, advertising at the point of purchase is more lucrative for retailers. CitrusAd is now competing with the likes of NASDAQ-listed personalized digital advertising companies that include Criteo and Microsoft’s Promote IQ. Companies that have signed with CitrusAd include Coles, Woolworth’s, Groupon, and Dan Murphy.
Moran considers his company lucky with some of his earliest clients. In the last 3 years, the company has gone from strength to strength to pave the way to the US market. The full stack retail media platform has a user-friendly interface that allows brands to log in, create their own advertisements, and serve sponsored posts and banners to their chosen websites. The concept is similar to Google AdWords in your own site.
It is not easy winning big clients like Ocado, Salisbury, Argos in the UK, and Groupon in the US because of competitor Criteo that uses aggressive strategies to keep its clients. Moran learned a lot from early mistakes. He has better decision-making skills and has become a lot sharper after 6 years. He has become more realistic and understands the pitfalls that he has to look out for.
The industry for digital agencies is competitive. They have to compete for clients and top talents in the industry. They have to think about creative solutions like the King Kong advertising review to become a highly successful company. Feedback is an important tool that makes clients and talents happy to work with the team.