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WHAT IS A RETAINER?

 

How your business may benefit from a retainer agreement in 2020

In this article we will aim to explain the benefits of hiring a team to carry out services, depending on the nature of your business requirements, without the headache of full-time staff logistics.

A retainer is an agreement between a client and an agency to work together for a longer period on more than just one project. It reserves a set amount of the agency’s time for a set rate.

The client, for example yourself, pays a set amount upfront to secure the service providers time and commitment.

For clients with a good understanding of their long-term goals and needs, it allows you 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 should outline key projects and ongoing activities that the agency is responsible for and set a timeframe for completion.

So, what’s in it for you?

In these points we will use Brandfunk’s typical retainer benefits to highlight the various gains of securing an agency retainer to aid your businesses mission and increase productivity.

1.     Working with someone who already understands your brand saves time and leads to better outcomes. 

We specialise in brand development and a conducive brand across the board builds brand association and familiarity.

The risk of hiring different people for different things can often lead to a fragmented brand identity, looking unprofessional, and at worst amateur in the eyes of your potential customers and clients.

 

2.     Offers invaluable expert support – especially if you don’t have an in-house design team. 

We at Brandfunk like to call it ‘the agency experience, without the agency price tag’.

The beauty of a retainer agreement is you can still utilise the expertise of a team without taking on your own, it really is like having a secret business weapon in your back pocket, our clients like to think!

 

3.     You have 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.

An advanced commitment secures a well thought out business strategy.

From content to brand evolution in our case, you can trust we are committed to your vision and you don’t risk the disappointment of being put on a waiting list because we are booked out.

 

4.     Booking time in advance saves money

Compared to budgeting projects one at a time. This also enables you to stay within budget each month.

We meet in the middle, commit to us and we commit to you, with benefits such as discounts and ALL the latest offers first.

 

5.     It’s easier to integrate a single agency’s projects into your larger marketing strategy.

Miscommunication is a common issue when different agency’s take on different tasks.

Being the mediator in your own business when everyone is looking for the fall guy because no one is singing from the same song sheet is no fun.

Business should be fun – it’s one of our core values!

Integrating a single agency to take care of your strategy makes for a smoother workflow for everyone.

 

6.     A longer-term relationship supports experimentation and optimisation.

Humans are impatient by nature, but be it lead generation or SEO strategy these things can take time.

Having a long-term relationship allows for analysing and titrating strategies to aid your long-term business growth without anyone second guessing key objectives.

 

7.     Savings

Because of the up-front booked out cost – our retainer clients benefit from a 15% discount on the agency hourly or day rate!

Just imagine what these savings could be put towards in a year, you could stay within budget and incorporate further growth strategy, for example take advantage of PPC services or hire a content writer. The brand building possibilities are endless.

 

To summarise, the client; yourself that is, pays a retainer fee each month for services required at a discounted fee to honour the commitment to the supplier or agency (e.g. Brandfunk) without the overheads, management and logistical complexities of running full time staff.

Check out one of our clients who enjoyed a retainer option with us here.

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