With the ever changing market, companies are starting to shift away from one-off projects and starting to focus on longer-term contracts and retainers. Some may ask whats the benefits of having a marketing agency on retainer compared to hiring a in-house employee. Well here we lay out a few of the major reasons why having a marketing agency on retainer in better in the long run.
What does a marketing retainer look like?
A retainer is an agreement between a client and an agency to work together for a longer period of time on more than just one project. It reserves a set amount of the agency’s time for a set rate. For clients with a good understanding of their long-term goals and needs, it allows them to get priority treatment and a lower per-project cost by essentially pre-paying for work. A typical retainer will scope out the work to be done by the agency over a set timeframe. It will outline key projects and ongoing activities that the agency is responsible for, and set a timeframe for completion.
advantages of A marketinG Retainer
For Agencies:
- The agency can focus their time on get a deeper understanding of the client’s long-term goals.
- There’s no need to be pitching to new clients to maintain a consistent volume of work.
- There is a clear roadmap for future production and can budget your team’s time.
- A predictable source of regular income and clear mechanisms for billing expenses and overages.
- A solid partnership allows you to take creative risks and be an expert rather than a service provider.
For clients:
- Working with someone who already understands your brand saves time and leads to better content.
- Priority access to an agency you trust, and don’t need to worry about whether they’ve already booked another project when you need them.
- Booking time in advance saves money, compared to budgeting projects one at a time.
- It’s easier to integrate a single agency’s projects into your larger marketing strategy.
- A longer-term relationship supports experimentation and optimization.
Is a retainer right for everyone?
No. If the client doesn’t have a clear grasp of their long-term marketing plans, retainers can be a bad experience and put stress on the relationship. Retainers are most useful when you know a steady, predictable partnership makes sense. In these cases, it allows everyone to get past the paperwork and focus on building and executing. It’s a way for both agencies and clients alike to do better work and grow their companies together.
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