Marketing can be a daunting task as a business owner.
Your time is valuable, and you are juggling so much for your business that setting up a marketing strategy isn’t practical on your own. This is why most of our clients hire us – because they need a partner that they can trust to grow their business.
When it comes to agencies, there’s an array of options from hourly rates to year-long contracts. What happens if you don’t want to be locked down for a full year? A marketing retainer may be the answer.
What Is a Marketing Retainer?
A marketing retainer is a contract between a marketing agency and a business that outlines a set of agreed-upon services and deliverables for a fixed amount of time, typically a three, six, or twelve-month period.
A retainer typically includes ongoing services, such as strategic planning, execution of campaigns, and tracking of KPIs (Key Performance Indicators) to measure success.
What Is the Difference between an Hourly and a Fixed Rate?
The difference between hourly rates and a fixed rate is the predictability of costs. With hourly fees, costs are monitored by the hour and can add up quickly, but with a fixed rate, it is pre-determined and provides a set pricing structure that is agreed upon before the work begins.
Choosing a retainer allows your business to better plan and budget for marketing expenditures and ultimately results in cost savings.
Benefits of Working with a Marketing Retainer
Strategy from the Start
A marketing retainer allows for a long-term partnership, so you can get started with an in-depth marketing strategy from first engagement. After all, marketing is a long-term game.
This strategy should begin with research on your ideal target customer, followed by an audit of your brand’s message and online platforms. The initial phase (the first sprint) should be aimed at forging an intimate understanding of your brand and industry sector in marketing collaterals. While this is time-consuming, it is the key to a successful campaign.
Flexibility with Marketing and More
When you work with a marketing agency under a retainer, you will have access to a wide range of services that can work for your business. If you want to switch up your marketing plan in a specific area, you can do so from one cycle to the next.
This flexibility will work to your advantage, especially in the ever-changing landscape of the business environment. Additionally, you’ll have access to other related services like graphic design, web development, or even lead generation, which may not be possible with an hourly rate model.
Priority Treatment and Quick Responses with a Dedicated Account Manager
With a marketing retainer, you will receive priority treatment and quick responses from an assigned account manager who will act as the lead point of contact for all your marketing needs. Your account manager is your biggest cheerleader and always keeps you a priority.
This level of service ensures that your marketing campaign is always on track, and questions can be answered promptly by someone who is familiar with your business.
No Surprise Costs, Making Budgeting Easier
Marketing retainers are all-inclusive, fixed-price agreements, so there are no surprise bills. This helps your business to plan better, based on the agreed set deliverables. With a fixed retainer fee, businesses can now accurately gauge the returns on investment (ROI) from their marketing efforts.
Partner with a Marketing Agency That Specializes in Sprint Retainers
Working with a marketing agency can provide ample benefits to your business — saving time, costs, and providing access to expert marketing knowledge. There are various models to work with a marketing agency, but the marketing retainer is the best choice for small to medium-sized businesses.
At Hot Dog Marketing, we understand that every business is unique and that is why we offer custom marketing services tailored to meet our client’s needs. If you are interested in partnering with us on a marketing-retainer basis, visit our agency pricing page for more information.
Read the Latest:
Hot Dog Marketing helps expert service providers and tech companies build their brands at the same rate they’re growing their businesses. We have deep expertise in branding and online marketing for both business-to-business service companies and local consumer service businesses.