Google Ads Announces $340 M for SMBs in COVID-19 Crisis
As we all have experienced the devastating consequences of the Coronavirus outbreak in every industry, the future is still uncertain. From the healthcare sector to the economic leaders, no one is assured of their business strategies. But one thing is certainly keeping all things lively and that is the utilization of digital platforms. Online marketing, Video conferences, digital marketing have not let any type of business go in vain during these crises. The digital industry pioneers have also started empowering businesses to strengthen their presence online. The best example we could see, when as a part of a huge financial commitment, Google came forward to announce its support in March through a variety of programs. Out of which, $340 million were announced as Google Ads Credits meant for the eligible small and medium businesses (SMBs) so that the businesses could stay in touch with their customers in these unprecedented times. So, let’s see how all this will play out!
Who is eligible?
This credit program is intended to support existing and dedicated advertisers who have been affected by the COVID-19 crisis but had run Google Ads campaigns in 2019 and in January or February of 2020. It does not matter if the campaigns were run in Google Ads account directly or through a partner. Google states that SMBs are a pre-identified business type by them. Thus, they already have a global team that helps these customers daily. Eligible advertisers will see notifications about available ad credits in their Google Ads accounts. The brand-new accounts Google Ads accounts made in 2020 won’t be eligible.
Why is this being phased in?
Google had a coupon program for the new advertisers, but the company had to build a new infrastructure to support this credit program. This phasing process will ensure a smooth rollout for the new system and see that the ad credits are applied seamlessly to accounts globally, across languages and currencies to provide the best customer experience.
How many credits businesses will get?
Each eligible advertiser will get one credit. It is issued at a customer level, so multiple accounts or types would be treated as one eligible credit entity. The amount of the credit worth will vary by customer. Google doesn’t release any specific details of the calculation, instead specify that it’s based on historic Ad spend levels, and also their country and currency. The credits can be used across the Google ecosystem, including Search, Display, YouTube and other campaign types. This ad credit can be used throughout the year and must be utilized by 31st Dec 2020. After 31st December 2020, the ad credit will expire and any unused portion of it will be removed from your Google Ads account.
Other programs and commitments by Google include:
- Ad grants to help the World Health Organization (WHO)
- $200 M investment fund to support NGOs and Financial Institutions
- $20 M Google Cloud Credits for academic institutions and researchers to curb Covid-19
- Direct financial support to increase the production of PPE and life-saving medical devices
To summarize, small and medium enterprises are particularly vulnerable during this crisis as they experience less engagement and sales. This is why the credits are aimed at supporting and active existing customers. SMBs globally can fully utilize this opportunity and expand their marketing strategies.