Have you ever found money?
Last week, I found 20 dollars in the pocket of my favorite pants. Obviously, it was already mine, but then again, I didn’t know I had the money, so it was indeed found.
The funny thing with found money is that what you do with it is highly reliant on where you find it and how much it is.
If you find money outside your bank, you may deposit and save it. If you find money outside your favorite department store, you may spend it. However, generally you are more free thinking with found money because after all it is money you previously did not have and are much more likely to do something with it quickly.
Last week, many advertisers found money in their Google Ads account as Google starting depositing ad credits to advertisers throughout the USA.
If you are an advertiser that spent money with Google Ads in ten of the twelve months in 2019 and in January and/or February of 2020, you most likely received your ad credit from Google last week.
Most of my private clients, received either $300 or $750 in Google ads credit, so it was a good chunk of found money.
If you are an advertiser that did not see a notice about receiving an ad credit, you can easily check in your Google account if you received a credit by logging into your account and navigating to the transaction settings under tools & settings and looking at ‘Adjustments’.
If you are currently advertising, there is nothing you will need to do. The ad credits will automatically start being applied to your ad spend as the image above shows.
If you are not currently advertising, the ad credits will stay within your Google Ad account until the end of the year (12/31/20).
So Why Now?
Google announced its plans for ad credits back in late March, vowing to provide ad credits starting sometime in May.
So why the timing of now (in late June) opposed to April or even May as originally promised?
I believe that reason is two-fold:
- If Google issued the credits in April or May, many advertisers wouldn’t have seen the full benefit of the credits as conversion rates were universally lower. However, conversion rates are increasing across industries and advertisers will most likely get more benefit from the credits now than they would have a month or two ago.
- Average Google clicks are currently substantially less (some clients up to 50% less) because not as many advertisers are currently using Google Ads. Many advertisers paused advertising in late March or April this year. By giving the credits now, Google is hoping to gain interest in having those advertisers who have paused their advertising return and start spending money advertising with Google even after they have used their credit. (At least that is why my inner cynic thinks!)
If you are interested to learn more about how Google Ads are currently cheaper and why many advertisers are currently finding increased profitability using Google Ads, check out last week’s podcast episode:
In the meantime, know that you have until the end of the year to spend your Google ad credits.
Also know that if you haven’t yet done so, now may be the time to reactivate your Google Ads as average pay per click costs are currently reduced due to a decrease number of current advertisers.
If you wait until later in the year, you most likely will not be able to attain the same number of clicks from the Google ad credits as you can now simply because of the current decrease in the number of Google advertisers who have yet to restart ads since COVID.
Remember to stay safe and stay focused.
Looking for More Information on Google Advertising?
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ABOUT THE AUTHOR
Andy Splichal is the founder of True Online Presence, author of the Make Each Click Count book series, host of the Make Each Click Count podcast, founder of The Academy of Internet Marketing and certified online marketing strategist with twenty plus years of experience helping companies increase their online presence and profitable revenues. To find more information on Andy Splichal, visit www.trueonlinepresence.com or read The Full Story on his blog, blog.trueonlinepresence.com.