Today, many small-and-medium-sized businesses (SMBs) are struggling to stay afloat while COVID-19 is keeping many customers at home. Now Google has offered a lifeline: $340 million in ad credits to SMBs.
The credits will free financially-strapped businesses stay in touch with customers, letting them know about changes to business hours and operations or special promotions. Here are some of the details:
- Who’s eligible? SMBs that have been active advertisers since Jan 1, 2019.
- How do I sign up? You don’t need to. Eligible SMBs will be notified by Google “in the coming months.”
- Where can credits be used? Across the Google Ads platform, including Search, Display and YouTube.
- When do credits expire? December 31, 2020.
Some details are still pending, like when credits will be available and how many advertisers will receive. 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.”
In addition to the ad credits, Google has set up a fund to help SMBs access capital and is providing $20 million in ad grants to help financial institutions spread the word about available relief funds and resources for SMBs.
Google explains, “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.”
Facebook has also come out with an offer of $100 million in cash grants for SMBs. See if you qualify.