A retainer is understood as a fixed payment made for a set of services to be provided during a predetermined period of time, the terms of which are governed under a contract.
Earlier the term “retainership” was associated with lawyers and consultants but now several professionals are keen to work on retainer rather than in short term project basis.
Why strategic digital marketing agency is more likely to work with a marketer on the same lines?
Retainership is the preferred business model in areas where services to be provided expand over a long period of time and the scope is undefined at the time of entering the contract. These criterions have attracted the attention of strategic digital agencies as marketing requires continuous attention and effort. Brand strategies set long term goals that are best seen as step by step process rather than a collection of short deliverables. Strategic online marketing or digital marketing is a commitment that cannot be summarized in a span of few months, it needs time to establish a brand and its digital presence. If the commitment is too short, marketers often fail to see any substantial results. Therefore, nowadays it is important to have someone completely dedicated to the art of digital marketing at all times.
Keeping in sync with the above, following are valid reasons as to why a Retainership business model is suitable for marketers working with strategic brand marketing agencies:–
Strategic internet marketing is not a time-barred service
Marketing is not a onetime occurrence, it is an ongoing endeavor. Therefore, services are required over a span of time, which can be difficult to summarize into a restrictive time frame. Retainers are perfect for marketers as they fit the time suitability perfectly.
Benefit of certitude adds to the package
When working with a strategic digital marketing agency, the scope of services is vast. There are guidelines but no visible barriers, a retainer brings in the elements of predictability into the arrangement. There are no major surprises to be expected during the course of the contract in terms of services or hidden costs.
The Expense or Investment Debate
Marketing budgets work up to 10% or even more, an amount of money which is substantial. Working on retainer turns out to be cost efficient for both the parties as it lays out the deliverables giving a better view at the ROI during the period of indulgence.
Allocation of marketing budgets become easier when working on a retainer because the costs are transparent and known. A single contract covers all the necessary activities, which makes financial planning simpler.
The focal point
Retainers are result oriented rather than being task oriented, they do not focus merely on getting a particular job done but rather achieving a goal. This ensures that they are also committed to the marketing goals and their actions are in accordance with the same. Otherwise, agencies hired for specific jobs often leave an aura of unfinished business around them.
Plentiful of Resources
With an agency, comes all its creative talent, something otherwise not possible to get access to in the same rates. You get designers, copywriters, visualizers, strategic planners, creative director, photographers and what not; all under one agreement. This comes in play to make your marketing efforts stronger.