Author Topic: How much should I pay someone to market my newly established business?  (Read 1307 times)

jyoung65

  • Jr. Member
  • **
  • Posts: 59
  • Medbilling
Marketing is a job and itself. It has really been a challenge for me, I am not a sales rep. and cannot stand rejection. So with that being said I need a marketing/sales rep. I did post an ad on craigslist for a marketing/sales rep. got a couple of responses, in the ad I did advise that the position will be a commission driven position. I need assistance with how to pay the rep. I want to meet with the applicants this week. I think it will be hard to say a percentage, when I don't know the detail like how many providers and their net gross sales. Should I give a flat rate?

Thanks :)

Michele

  • Global Moderator
  • Hero Member
  • *****
  • Posts: 4705
    • Solutions Medical Billing
We have never hired a marketing/sales rep but we have 'rewarded' people for referrals.  What we did was offer $50 for an appt and a $50 bonus if the provider signed.  Then we would give them residual compensation for the first six months we billed for the provider based on the amount we charged.  So for example, they set us up with an appt, the provider signs, and agrees to pay a $1000 flat fee per month.  The person would get:

$50  appt bonus
$50  sign up bonus
$100  1st 3 months  ($300)
$50  months 4-6  ($150)

The residual bonuses were paid each month so they would receive $100 first, then $100 after the provider paid month 1, $100 after the provider paid month 2 and so on.  For a total bonus of $550 over a 6 month period.  Sounds complicated but it worked well for us.  We would get a year (minimum) contract so we were guarenteed $12000 for the $550 commission.  For us, $550 is worth paying for an account like that.  And usually we would end up working for the provider for longer than one year, so the commission was definitely worth it.  And the commission is based on the size of the accout so you don't pay big bucks for a part time social worker.

Hope that helps!
Sign Up for our FREE Medical Billing Newsletter
Get a 10% discount on Medical Billing Products by using Coupon Code: 10OFF
http://www.solutions-medical-billing.com

jyoung65

  • Jr. Member
  • **
  • Posts: 59
  • Medbilling
Thanks Michelle!

hawaii50pr

  • Newbie
  • *
  • Posts: 2
Hi jyoung65!!

I am a newbie myself....and I am starting the whole marketing thing.  Someone told me about going to craigslist and posting an ad there for billing services.  I did this, and I did not hear one thing back from anyone  :( Maybe I just posted it in the wrong area.  Where did you post your billing services and were you able to post just to one city/area or multiple areas?  When I did my post it would not let me post to multiple cities or areas.  Thanks in advance for any info you can give me :)