Using Enterprise Credits to Pay for Geek Leads
If you bank with Enterprise, you probably know that you get free "analysis credits" in working with them that you can use to pay for business expenses and this includes Geek!
Here's how it works in REALLY simple terms:
- Enterprise sends money to Geek, which "prepays" for leads.
- When Geek bills for leads, we use your prepaid balance instead of charging your card / bank account.
Here's a little more detail on how that works itself in practice.
- You Tell Geek How Much of a Balance You'd Like to Prepay
You decide how much money you want to put into the "Geek bank" via Enterprise. Example: $3000 is what you decide you want in the 'Geek bank'. - Geek Sends You an Invoice
Geek sends you an invoice for $3000 (or whatever number you chose), which you then forward to your rep at Enterprise. - Geek Waits for Enterprise
Enterprise normally takes 2-3 weeks to pay an invoice like this; once they do, we'll start paying for your Geek leads with that money provided by Enterprise. - Geek Bills Against Enterprise Balance
Each week, as we bill for leads that we've generated for you, we take the owed monies out of the balance we have on file that Enterprise sent to us (instead of charging your credit card / bank account).
That's the gist of how it works. A couple points to emphasize:
- If Enterprise Money Runs Out, We Go Back to "Business as Usual"
If you do run out of money in your Geek bank, no big deal. We'll use your ACH or credit card on file to pay for those leads (IE Enterprise could take a bit longer to pay an invoice, your balance falls below zero with Geek before they do pay).
There is no such thing as 'Geek bank credit' whereby we wait to bill for your leads as we wait for the money to show up from Enterprise. We will spend money via Enterprise that is in the 'Geek bank' if its there, but if its not there, we'll use your regular ACH or CC info to bill for those leads.
To avoid interruption on using Enterprise credits, we'd recommend you have at least what you currently are spending for 3-4 weeks in the 'Geek bank'. IE if you spend $3000 per month with Geek, that's $750 per week on average, so we'd recommend you request a first invoice of 3 x $750 = $2250 or even a full month, $3000. Why? If you don't, since Enterprise takes 2-3 weeks to pay invoices, you'll find you are running out of Enterprise credits to pay for Geek leads. - You Can Also Decide Your "Warning Level"
Your warning level is that amount in the Geek bank account where you want us to remind you that it's time to send a new invoice to Enterprise and repeat the process. Example: you decide you want us to send you a warning email at $1500 balance in the Geek bank so that you have time to send a new invoice to Enterprise, giving them a couple weeks to pay the invoice and keeping your Geek leads paid for by Enterprise credits. - You Must Drive the Process Here, Not Geek
This means you decide how much each invoice will be for, what your warning level is, and you handle any communications with Enterprise. This is what Enterprise wants.
You will notice that this process gives you 100% control… you can change the amounts you want the invoice to be for or the warning levels as you see fit. Obviously when your Enterprise analysis account runs to zero after Dec 31st, we'll shift back to ACH/CC billing until you instruct us that you have enough analysis credits to begin the process again.
For more details on setting up a Enterprise Credits Fund with Geek, read more about how to do that in the Geek Dashboard here.