In recent weeks, the world has been shaken to its core by the toll that the spread of COVID-19 has had on our lives and communities. With the number of the infected and the death toll rising daily, most people are isolating themselves in their homes and only going out for essential supplies. While this is a necessary precaution to take with public health in mind, social distancing and quarantining have undoubtedly had a negative effect on the economy. At Versa Creative, we are particularly aware that small and mid-sized businesses (SMBs) are feeling the worst of the current situation; in response, many corporations have announced funding and initiatives to help lessen the burden.
On March 27th, Google’s CEO announced their plan to commit $800+ million towards the support of small and medium-sized businesses, health organizations and governments, and health workers on the front lines. In addition to allocating funds for the World Health Organization, nonprofits, financial institutions, and Google Cloud credits for academic purposes, Google is also providing $340 million to go towards ad credits for all SMBs with active accounts over the past year. The hope is that this will alleviate some of the costs of staying in touch with customers while trying to keep the doors open and pay employees during this time.
Eligibility and the Release of Funds
As the majority of our clients fall into the SMB category, Versa Creative is being proactive by staying in contact with our Google team for the latest updates on how and when the credit will be applied, who qualifies, and how an account will be notified of the credit. Google has stated that, when the time is right, eligible SMBs will receive a one-time credit to their accounts. The ad credit will go to SMBs in every country where Google Ads is available, focusing on customers with existing relationships and have been working with Google for at least a year. If eligible, you will be informed through an in-product notification with the credit amount. Credits will be made available to eligible customers in phases beginning in late Q2 and can be used to offset future advertising with Google until the end of 2020.
At Versa Creative, we are sensitive to our client’s needs during this unprecedented time and want to do all we can to support the SMBs that we work with. If you are a client and have questions about your eligibility, how you can use this credit to stay in touch with your audience while you’re closed, or just advice on how to navigate through these rough waters, contact us today. We are fully functioning and ready to meet your needs.