Small businesses are considered the spine of the modern economy, and Facebook wants to support them with a $100 million grant. Today we give an overview of the initiative and explore tips for your law firm.
In a previous article, we covered Google’s initiative to grant $340 million in Ad Credit for SMBs. Now, it’s time to look at what Facebook is doing to support small businesses that have been affected by the ongoing COVID-19 pandemic and understand if your law firm is eligible. The social media giant couldn’t close eyes to the problems of small companies, the spine of modern economies, are facing. The first step was to create a hub with valuable resources on how to stay productive and competitive. There, you can find information about how to keep yourself and your team safe, ways to keep in touch with your customers, ideas on an enhanced online presence, and some tips for potential customer plans. Remember that Facebook brand includes Instagram and WhatsApp, and here you can find specific information (Instagram help center, WhatsApp for businesses). Taking an extra step, the company decided to lend a helping hand to small businesses, announcing a $100 million support program that will come as ad credits or cash.
Let’s break it down and identify the key points of this initiative.
- Facebook has identified an increased need in small businesses and therefore decided to help with $100 million. Compared to Google’s support program, Facebook will also inject cash.
- The social media behemoth stated the 4 ways that a company could use this aid. First, as a way to keep a strong and united workforce. Second, to help with rent costs. Third, to cover operational costs, and fourth to connect with more customers. All these could apply to your law firm.
Google vs Facebook offerings to SMBs amid Covid-19
If we compare Google’s and Facebook’s initiatives will find a structural difference; Google will support SMBs with Ad Credits, while Facebook will also hand out cash. The selection process and the way they’ll determine eligibility is also different, so let’s find out more about Facebook’s initiative.
- The official statement makes it clear that 30,000 small companies will receive the grant. $40 million out of the total pot will go to 10,000 small businesses in the United States.
- The value of the grant is up to $4000 per eligible company, meaning that you could receive $2500 in cash for your law firm’s operational purposes and $1500 in optional Facebook Ad credits.
- Locations vary but must be in places where Facebook operates (or nearby). The United States is included, and according to reports, New York, San Fransisco Bay, and Seattle will be among the first eligible regions.
- Other than location, the criteria are clear and simple. Your law firm could be eligible if you’re in business for over a year, you employ a team of 2-50 people, and you can prove that you’ve been negatively affected by COVID-19.
- To apply, you have to visit the page created for the Facebook grant initiative. Then reach the lower part of the page and click on See Available Locations. There you can select your law firm’s location. Alternatively, you can click on this link and go straight to the application page.
- Applications are already open for most of the eligible regions in the USA, so act fast as they will remain open till May 8.
It’s vital to realize that Facebook is splitting its grant to ensure that on the one hand, it helps small businesses, like your law firm, cover operational costs. On the other hand, it encourages them to invest in legal digital marketing and potentially explore different ways to reach new customers. In a previous article, we have covered the importance of taking all the right, strategic decisions for your law firm, so now, let’s concentrate on ways to stay creative with your digital strategies.
Invest in Facebook Ads
Facebook Ads can be a great way to get in front of your local community. You can start by building your brand awareness, engaging with potential clients who need your legal services, and eventually turn them into new leads. Additionally, you can use it as a tool of retargeting, reaching people who have already visited your website, or by getting in front of people in a specific location, such as an emergency room, doctor, or hospital. A subtle reminder to the right people, in the form of a promoted post or a display ad, can put you in top of mind. If you are already investing in Facebook Ads in English, you should consider expanding your digital strategy to reach Hispanic audiences. Spanish speaking people spend significant time on Social Networks and are known to be more likely to click on paid ads.
Instagram is a popular Social Network, owned by Facebook. It means that you will be able to use your Ad credits to explore Instagram and attract new leads. Using retargeting methods, you can create brand awareness for Instagram-native audiences who speak photos and videos. You can try Google’s new Video Builder to create original video content for your law firm and promote it on Instagram through stories Ads or Video Ads. Another tip you could follow is to use short testimonials from your clients and create your ads on Instagram explore. Our final suggestion is to keep track of the ways you’re supporting your employees and your community and then use this material to show that you care for your people. Consumers don’t forget, and experts expect them to support businesses with a proven track record of support amid COVID-19.
It’s time for our key takeaways.
- Facebook proves its support to small businesses by aiding them with $100 million in cash and ad credits. $40 million out of this amount will go to 10,000 businesses in the United States.
- You can find out if your law firm is eligible by filling out the application for the Facebook Grant.
- Act fast, applications for most locations are open and will remain till May 8.
Use the Grant wisely. Part of it will be in cash, and you can cover your operating expenses. $1500 of the $4000 will be in ad credits, make sure that you take advantage of the amount and explore new legal marketing strategies. A great way to use this amount is to try reaching Hispanic audiences; if you require assistance on your Spanish speaking strategy feel free to contact the Hispanic legal marketing expert