If you’ve ever felt out of your depth when it comes to your business’s marketing needs, a marketing agency retainer may be the perfect solution!
Maybe you’ve considered hiring an agency for a marketing retainer before but found yourself on the fence, wondering things like, what does a marketing retainer actually entail and how do you know if it’s the right choice for your business?
That’s why True Co. created this ultimate guide to marketing agency retainers. In it, we cover:
- What is a marketing retainer?
- How does a marketing retainer work?
- What services are included?
- How much does one cost?
- How do I know I can afford one?
- How will I know my retainer is working?
- Benefits of a Marketing Retainer for the Client
- Benefits of a Marketing Retainer for the Agency
- When to Use a Retainer
- When Not to Use a Retainer
We’ll answer all of your questions so you can decide with confidence if a retainer is the marketing solution you’ve been looking for.
WHAT IS A MARKETING RETAINER?
A marketing retainer is a recurring monthly or quarterly agreement that reserves a set amount of the agency’s time or services for a fee. This arrangement allows the client and agency to work together on more than one project or goal over an extended period of time, typically in service to an overarching marketing strategy.
Among its many benefits (which we’ll elaborate on in a minute), the continuity a retainer provides typically better serves the client’s overall marketing efforts than if those same efforts were parceled out to an agency as individual projects.
HOW DOES A MARKETING RETAINER WORK?
After an initial meeting to discuss marketing needs and future goals, the agency prepares a proposal for the client to review. The proposal would include an overall marketing strategy, along with a breakdown of the monthly services needed to implement said strategy, and reporting methods used to update the client on the strategy’s progress. It would also list the proposed retainer fee and other terms of service.
If the client is happy with the proposal, they sign and return it and the retainer takes effect. Each month the agency will provide the agreed upon services, moving the client’s business closer to its marketing goals. The agency will also provide periodic updates to the client, supported by in-depth analytics pertaining to the client’s KPIs.
WHAT SERVICES ARE INCLUDED IN A MARKETING RETAINER?
The services a marketing retainer includes will vary based on different agencies’ approaches and the client’s specific needs. Some agencies specialize in specific areas, like SEO (Search Engine Optimization) or PPC (Pay Per Click), while others, like True Co., offer a full range of services.
Services that may be included in a marketing retainer:
