CitrusAd Partners With Shoppable Video Ad Platform
Publicis Groupe’s retail media tech company CitrusAd has partnered with video advertising platform Sponsorcart to provide on-site shoppable video ad technology to advertisers and simplify campaign activations on retailer media networks (RMNs) in the U.S. and abroad.
Sponsorcart's shoppable video ad formats aim to drive meaningful engagement for brands and fetch greater CPM (cost per thousand impressions) in the retailer’s revenue stream, according to a media release.
Sponsorcart’s technology allows CitrusAd brand and retail partners to launch and manage video ad creative/formats tied to corresponding SKUs for add-to-cart functionality providing closed-loop measurement insights and analytics. Sponsorcart’s video solution appears natively on online storefronts across the path to purchase.
It also leverages first-party retailer data, allowing marketers to target consumers by content, keyword or other audience data with sponsored ad placements.
Sponsorcart's technology is not limited to CitrusAd, but CitrusAd is the first to launch and make the ad formats available.
"Brands will be able to easily align commercial video assets with SKUs directly within the path-to-purchase in a shopper-relevant manner," Adam Skinner, managing director, retail media networks, CitrusAd, said in the release. "These enhanced shopper experiences deliver tremendous storytelling power and an attractive way for retailers to expand their media offering."
"Our goal was to make it easy for video to play a larger role in retail media," added Stephen Caffrey, CEO and co-founder of Sponsorcart, which launched in 2022. "We are delighted to tie our video ad platform to CitrusAd to make shoppable video ad campaigns dynamically populate in a native and personalized manner with lightning-fast load times."
Digital video advertising spend in the U.S. reached an estimated $55 billion in 2021, according to Statista, which projects spend will increase to $78.5 billion by 2023, more than doubling the figure from 2019 ($32 billion). CitrusAd says retailers can improve customer experiences and boost CPM by adding video to advertising campaigns.