Google Announced $340m Advertising Credit for SMBs
Amid the current challenging times, many SMBs are suffering irreversible damage, and many of them may not survive long enough for the outcome. Many corporations took the lead to ease these struggles of small and medium-sized companies. This includes lifetime offers, enormous discounts, and materials supporting the social distancing recommendations most countries give.
In the same light, Google recently announced that they will be giving $340 million to SMBs to stay in touch with their customers.
The $340m Credit Is only One Side of Google’s Announcement
Google also added that they will be setting up a fund to help NGOs and financial institutions to help them with access to capital, as an addition to the already existing $15m Google grants that are already being distributed to nonprofit organizations.
Additionally, Google will set up an additional $20m fund in ad grants for financial institutions to specifically run public service announcements on relief funds and other sources for SMBs.
Who Can Get the Google Ads Advertising Credit?
Although Google announced they will be supporting SMBs, there is a prerequisite. To be eligible, the business must have been active during the past year (2019). Or, as Google put it, advertisers who have been active on the platform since the beginning of 2019.
Sadly, this means that small businesses that open a new account are not eligible for the advertising credit.
As we mentioned earlier, SMBs are in a dire situation – they can’t achieve enough profit, and are on the verge of collapsing. Many businesses did major cuts in their marketing budgets, and if things do not change soon, many of them will be facing closures. The other side of things, companies are trying to support their employees, but with the decline in revenue generated, they soon will not be able to. So, this is why Google decided to give out Google Ads credit – to alleviate some of the costs SMBs have during these difficult times.
When Will the Google Ads Credit Be Available?
Google did not provide a specific date when the credit will be available, but they mentioned that SMBs worldwide that meet the criteria will be notified within their Google Ads accounts in the following months.
Advertisers who receive ad credits will be notified when they get theirs. Google mentioned that they are in the process of building the credits within Google Ads accounts, and urges businesses to be patient.
The Google Ads Credit Will Expire in 2020
The Google Ads credit will be usable at any point throughout 2020, and it will expire on 31st Dec 2020.
It will not get transferred to the next year, and the unused portion will be removed from the Google Ads account.
The Credit Will Be Applicable Across all of Google’s Channels
The ad credit will act as any other payment within the Google Ads account, meaning that it will be usable across all of Google’s platforms, including Search, Display, and Youtube.