We are now several weeks into the devastating impact that COVID-19 has had on our economy, our health and our world. A government stimulus package was approved for disbursement in the coming weeks to help us on a personal level, but what about on a corporate level for the “small” players?
We’ve rounded up the public and private sector stimulus opportunities that are now available to small and medium-sized businesses, mostly focused on advertising and marketing, to help alleviate some of the financial pain of lost revenue.
- WHEN // Advertisers who have been active since the beginning of 2019 will see a credit notification appear in their Google Ads account in the coming months. It’s not yet known how big the credit will be, but we’re guessing it will be a percentage of your average monthly account spend
- WHY // SMBs represent about 90 percent of all businesses and more than half of employment worldwide. They are the backbone of our communities, and are facing closures and declining revenue even as they find ways to support and protect their employees
Facebook for Business
- WHAT // Offering a Small Business Grants program worth $100 million in cash and ad credits. This intends to assist with rent and operational costs, and help businesses continue to connect with their customers.
- WHO // Limited to 30,000 SMBs across 30 countries, and companies will need to apply for the grant. Applicants must have 2-50 employees, have been in business for at least one year, and be located where Facebook operates. For any SMBs that may not be eligible for the grant program, Facebook for Business has created a pretty robust resource hub with other valuable tools and information.
- WHAT // $10 million Price Relief Fund to support small business customers. For those who want to continue using Mailchimp’s platform but need some financial support during the COVID-19 crisis.
- WHO // Current customers who have 25 or fewer employees in categories including restaurants and hospitality; brick and mortar retail; travel and leisure; entertainment; or health, beauty, and wellness. Other select businesses are eligible for up to three months of free Mailchimp service. Eligible SMB customers can fill out this form to request funding.
Small Business Association (SBA.gov)
- WHAT // On Friday, March 27, 2020, the CARES Act was signed into law. This contains $376 billion in relief for American workers and small businesses.
Most marketing platforms and SaaS providers are offering discounts and value-add offers to their customers. It just takes a quick scan through your inbox’s “Promotions” tab to make sure you don’t miss any. Some COVID-19 emails from businesses have had us scratching our heads as to why (don’t be like them). But some are truly offering valuable and helpful stimulus opportunities to their SMB customers – you!
Curious how you can use these stimulus packages to keep your marketing afloat? Contact us today, we’re here to serve as a remote extension of your in-house (probably now remote as well) team.