On Friday the 27th of March, Google announced that they will be offering ad credits for small-to-medium sized businesses (SMBs) who routinely advertise with them. Google have pledged $340 million in Google ads credit, to help companies “stay in touch with their customers during this difficult time” (Google Ads Help). This ad credit can be used at any point until the end of 2020, across any Google Ads platform.
Google has stated that they believe SMBs are the backbone of communities, representing around 90% of all businesses (according to World Bank). The coronavirus pandemic has meant that these companies are seeing a significant decline in revenue, as well as being forced to temporarily shut down.
In addition to providing $340 million in Google Ads credit, Google has also set up a fund to enable NGOs and financial institutions with what they need to provide small businesses with access to capital. Additionally, Google has provided $15 million cash grants to non-profit organisations to help bridge the gap for small-to-medium sized businesses.
SMBS, who, as Macy Edwards, Director of Digital Paid Media at ClickThrough puts it are “the vast majority of the businesses who advertise with Google, and who may not have the cash reserves that larger firms have to carry on advertising”.
In addition to Google pledging $340 million in ad credits, Facebook has also announced financial help for small-to-medium sized businesses. For its part, Facebook will offer $100 million in Facebook ad credits, as well as cash grants to support up to 30,000 small businesses across 30 countries.