The ongoing economic crisis in Sri Lanka has put small and medium-sized businesses in peril. Since early this year, the country has seen its foreign exchange reserves plummet, leading to tight restrictions on forex transactions. This has especially affected SMEs that have already felt the blow of the depreciating Sri Lankan Rupee (LKR). As the Meta Authorised Sales Partner (ASP) for Sri Lanka, the Roar Digital team has been working tirelessly to offer viable solutions to ease this struggle for the 3,000+ brands it works with.
Last week, they were able to implement the most recent of these solutions — a permanent LKR billing option that will minimise the adverse impact the forex crisis had had on advertising spends across Meta platforms for Roar Digital partners. The team is already rolling out LKR ad accounts for both existing and new clients, who will be able to set up their new accounts and migrate any old campaigns with ease.
There are several benefits to using an LKR ad account, the most important being that advertisers will no longer be impacted by exchange rate fluctuations when spending on campaigns. Second, it is a cheaper option to being billed on a credit card for campaign spends. It also helps advertisers streamline their media planning with other local mediums such as TV, radio and print, which are costed in rupees. Finally, the granular reporting capability allows advertisers to view their results down to the two decimal points in LKR.
To learn more, please go through some of our Frequently Asked Questions (FAQs) below.
Yes, however all spends that run through USD ad accounts need to be settled via USD payments from the 1st of October 2022.
You can migrate campaigns from your old account to your new account. Please watch the following video to learn how to do this.
Instructions to migrate campaigns from USD to LKR ad accounts
If you are an existing client and already have a USD ad account with us, our team will reach out to you to help migrate your campaigns to a new LKR ad account. If you are a new client and wish to set up your LKR ad account, please reach out to our client partnerships team.
VP, Client Partnerships
+94 (76) 221 2338
Senior Manager, Client Partnerships
+94 (76) 773 6734
Assistant Manager – Client Partnerships
+94 (76) 367 8021
Junior Client Partner
+94 (74) 281 2367
Couldn’t find the answer you were looking for? Please reach out to one of our aforementioned team members via phone or email.
Visit www.roar.global/roar-digital for more information regarding the Meta ASP program in Sri Lanka.