Google Ads Announce $340M in Ad Credits for Small and Medium-Sized Business
These past few weeks have been challenging for everyone, and to say that the coronavirus quarantine has affected small and medium-sized businesses is an understatement.
However, the sense of support and unification throughout these times has been apparent. Recently, Google has shown its support for small and medium-sized businesses by announcing it will issue $340M in Google Ads credits. As a small business ourselves, we have been relentlessly working to help our small and medium-sized clients operate throughout this difficult time. When we saw this announcement, we had to break it down so you can understand how this can benefit your business.
Why is Google offering ad credits to small and medium businesses?
According to the World Bank, small and medium-sized businesses represent about 90 percent of all businesses and more than half of employment worldwide. They are the backbone of our communities.
COVID-19 has impacted the future of many businesses, which sadly, some may be facing closure and declining revenue as they find ways to support and protect their employees. The ad credits may be a way to alleviate some of the cost to stay in touch with their customers.
Who is eligible for the ad credits?
Small and medium-sized businesses that have advertised directly with Google or through partners that comply with Google’s terms and conditions with an active account since January 1, 2019, will be eligible for ad credits.
If your ads have been live since the beginning of 2019, you will receive a notification at the top of your Google Ads account. The ad credits will be useable across all Google Ads channels such as Search, Display, and YouTube.
How much will your business get?
Google has not announced how the $340 million will be split, but we anticipate that it will focus on the industries that have been impacted by COVID-19 the most.
When will the ads credits be available?
So far, Google hasn’t provided a date outside of ‘the next few months.’ However, we expect things to move much faster with Google looking to get businesses spending again, especially those that have cut their marketing spend significantly.
Should you keep your advertising on during COVID-19?
This is a common question right now, and primarily the answer depends on what your business does and how tremendous the impact of COVID-19 has been on it.
Research and history show those that continue to market themselves in times of crisis come out better at the end. With that being said, many businesses aren’t able to run full-scale campaigns during this time. Therefore, our recommendation is to run a smaller scale, awareness-based advertising.
You can still get a good reach on the Google Display Network for minimal spend levels, and these types of ads will keep your brand at the front of people’s minds when things start to go back to normal again.
How long are the ad credits valid for?
The Google Ads credit can be used at any point throughout the year and will expire on December 31, 2020. Any credits unused will be removed from the Google Ads account.
How should you spend the ads credits?
Now is the time to be working on your marketing strategy for a post virus world, and if you’re eligible for the ad credits, how you use them could close the revenue gap and help you come out on the other side of COVID-19.
If you need support with your Google Ads account, feel free to contact us at 913-428-9508. We would be happy to support you and your business navigate through these challenging times and help prepare for the future outcomes from the impact of COVID-19.