As many small-to-medium sized businesses (SMEs) around the world are struggling to stay afloat during the coronavirus pandemic, a few digital giants have stepped up to support them. Google, Facebook and TikTok, which has proved massively popular during the lockdown, are offering ad credits and cash grants. Both Google and Facebook make a lot of revenue from their ads, with Google earning $134.81 billion and Facebook earning $69.66 billion in 2019. By supporting SMEs when they need it, they are likely to strengthen their relationships with them. With so much of their revenue coming from ads, it’s in the best interest of these giants for SMEs to survive. If you are an SME, take a look below to find out how you can apply for ad credits and/or cash grants for your business.
Is my business eligible for Google ad credits?
Google is giving out $340 million in ad credits to SMEs. Starting in late May, Google will start notifying customers that they have added ad credits to their Google Ads accounts. The ad credits can then be used for any future promotion until 31st December where they will be removed if they have not been spent. The amounts you will receive will vary depending on how much you have spent in the past as well as the country and currency where the business was set up on Google Ads.
In order to be eligible for any of this, you need to already have been spending on Google Ads. Eligible customers need to have spent with a Google Ads account in ten out of the twelve months in 2019, as well as in January and/or February in 2020. You can have advertised directly through your Google Ads account or through a partner. If you are eligible, there’s nothing you need to do except wait for Google to notify you that the ad credits are now in your Google Ads account.
Is my business eligible for Facebook’s cash grants and ad credits?
Facebook has announced that they will be offering SMEs $100 million in cash grants and ad credits. The programme has been introduced to support businesses with keeping their workforce, helping with rent costs, connecting with more customers and covering operational costs. Up to 30,000 SMEs in 30 countries will be eligible to receive the grant.
For your SME to be eligible for a Facebook grant, your business needs to have between 2 and 50 employees, been in business for over a year, experienced challenges from COVID-19 and be in or near a location Facebook operates. Applications from SMEs in the US are now open whilst grant programmes in other countries including the UK will launch in the coming weeks. To apply for a grant, head over to Facebook’s Small Business Grant Programme page and select your location. Whilst waiting for the grant programme to launch in your country, Facebook still has other tools you can utilise in their Business Resource Hub.
Is my business eligible for TikTok ad credits?
TikTok is investing in a number of ways as part of their commitment to COVID-19 relief efforts. As part of their commitment, they are providing $100 million in ad credits for SMEs to support them when normal business activities resume. They are yet to announce too much information, however, the programme is expected to roll out over the coming months depending on public health authorities’ decisions on when normal business activities will resume.
These are great opportunities for SMEs to take advantage of. Not only support your business during this crisis but to also improve your communications with your customers as well as expanding your current customer base.
Don’t forget to check for any notifications from Google and keep checking your Google Ads account for the ad credits and ensure you spend them before the end of the year so they are not wasted!
We will be updating this article if we hear of any more businesses offering grants and/or ad credits for SMEs. Make sure you check back and let us know if you believe we have missed any. If you would like any more information around how to apply or if your business is eligible for these grants, get in touch with us today.