COVID-19 Digital Advertising Credits
In light of the COVID-19 pandemic and its effects on businesses, the biggest players in digital advertising have committed to supporting small businesses by offering advertising credits to select companies. Since many of our clients advertise on these platforms and could benefit from ad credits, we wanted to provide an update about what we know regarding ad credits.
There are two ways we are staying informed. First, we are monitoring corporate communications online. Second, we are checking in with our agency partners at Google and Facebook during our regularly scheduled calls. Here's what we know right now.
Google has committed $340 million in ad credits to small businesses. An additional $20 million has been set aside for community financial institutions for special PSA messaging. To be eligible, businesses must have spent money on Google ads for 10 out of the last 12 months. The ad credits will first be made available for some businesses starting in late May, although it sounds like many businesses will have to wait to receive them until later waves of credits are released "over the following months." The value of the ad credits will vary and depend on previous Google Ads spending. Google isn't divulging their calculations, but the unspoken assumption here is the more you've spent, the more you can expect to receive in credits. Finally, you will have until the end of 2020 to use the ad credit. We will monitor client Google Ads accounts and inform you when/if you are granted Google Ads credits.
You can learn more about Google's ad credit program here: https://support.google.com/google-ads/answer/9803410?hl=en
Facebook has committed $100 million in cash grants to small businesses located around the world. Facebook accepted applications from businesses who met their criteria which included having business locations in areas near Facebook offices. This excluded many of our clients and other businesses located in the Inland Northwest or outside the biggest cities. At this point, Facebook is no longer accepting applications and says they will only be able to provide grants to a portion of small businesses which applied.
You can read more about Facebook's ad grant program here: