Google Is Giving $340 Million In Ad Credits To Small Businesses Affected By COVID-19
BOOM, COVID-19 hit causing most local businesses in most states across the country to close entirely, many indefinitely at the time of writing this post.
Some businesses we work with are open for emergencies only – like dentists, or pivoted to doing takeout – like restaurants, but in effect, local business is shut down.
People are staying at home, business owners are staying at home, we’re all staying at home. At least most of us, we hope.
So what’s the good news?
Google is helping with your new customer acquisition & communication efforts – when your back in business that is.
In an announcement on March 27, Google announced they are donating $340 million in advertising credits as part of their larger $800+ million to support small businesses and crisis response across the country.
➡ $340 million in Google Ads credits for SMBs
➡ $200 million investment fund that will support NGOs & financial institutions
➡ $20 million in Google Cloud credits for… pic.twitter.com/P36abqkpbA
— 1LocalBusiness.com (@1LocalBusiness) March 27, 2020
In addition to providing $340 million in ad credits, Google has also set up a fund that will support NGOs and financial institutions around the world to help provide small businesses with access to capital.
This is in addition to the $15 million in cash grants Google.org is already providing to nonprofits to help bridge these gaps for small businesses. They’re also providing $20 million in ad grants to community financial institutions specifically to run public service announcements on relief funds and other resources for small businesses
How Can Local Businesses Receive Their Share of Google’s $340 Million In Ad Credits?
The advertising credits can help financially-strapped local businesses stay in touch with existing customers and help acquire more new customers.
Their commitment includes $340 million in Google Ads credits available to all small businesses with active accounts over the past year.
“Credit notifications will appear in their Google Ads accounts and can be used at any point until the end of 2020 across our advertising platforms. We hope it will help to alleviate some of the cost of staying in touch with their customers.”
Here are some of the details we’ve learned so far:
- Who is eligible? Small and medium businesses, who advertise directly with Google or through partners, with active accounts since the beginning of 2019. Credits will be provided to advertisers that have been active advertisers since Jan 1, 2019 and comply with all Google Ads T&Cs.
- How do you sign up? You don’t need to. Eligible dental offices (all small businesses) will be notified by Google “in the coming months” – according to Google.
- Where can the advertising credits be used? Across the Google Ads platform, including Search, Display & YouTube.
- Do the advertising credits expire? Yes, on December 31, 2020.
Google says, “We are in the process of building these specialized credits into Google Ads accounts, therefore notifications will not show immediately. We appreciate your patience.”
“Small and medium-sized businesses are the backbone of our communities. They represent about 90 percent of all businesses and more than half of employment worldwide, according to the World Bank… Through ad credits, we hope to alleviate some of the cost to stay in touch with their customers.”
Google isn’t the only one handing out some financial help to small businesses, Facebook has also pledged $100 million in cash grants for eligible small businesses. You can see if you qualify here.
Aside from existing customer referrals, Google & Facebook are two of the most effective platforms for local businessess wanting to increase their new customer acquisition & retention efforts – that’s certainly true for our clients.
If not before in your case, then certainly so in the future.
Will you take the money and run?