Bonfire CMO René LeMerle says it’s been a while coming, but Google’s (this week) and Facebook’s (two weeks ago) advertising businesses have finally responded to the COVID-19 pandemic.
The world’s top advertising platforms have announced relief plans for advertisers to assist them through the tough times. Both companies are offering advertising credits / grants – the goal being to offset advertising costs for their customers and help them weather the COVID-19 storm.
For many, it might feel like a self-serving strategy to keep advertisers spending in the respective ad networks. But given the plight of many businesses currently, any assistance to keep their brands in front of customers will be welcomed.
From Google’s announcement:
“We want to help alleviate some of the cost for small and medium-sized businesses (SMBs) to stay in touch with their customers during this challenging time. That’s why we’re giving our SMBs worldwide $340 million in ad credits, which can be used at any point until the end of 2020 across our Google Ads platforms.”
“We know that your business may be experiencing disruptions resulting from the global outbreak of COVID-19. We’ve heard that a little financial support can go a long way, so we are offering $100M in cash grants and ad credits to help during this challenging time.”
There are eligibility criteria for both programs, so it’s important to speak to your respective agencies or reps for details on the fine print.
Grants and credits are due to be issued in the coming week, so if you’re considering shutting off your advertising, it might be worth holding off.