When working with a marketing agency, you typically have two options: working on a retainer or on a per-project basis. Here’s the difference between the two and the benefits to consider:
Per Project Basis
Working with a marketing agency on a per-project basis is best for individual projects or campaigns, with separate agreements and pricing structures for each project.
Benefits of working on a per-project basis:
- Flexibility:
Hiring an agency on a per-project basis allows you to engage for specific initiatives without any long-term commitment. - Cost Control:
Per-project pricing allows for more precise budgeting, as you pay for each project separately. This can be beneficial if you have sporadic or irregular marketing needs. Keep in mind, per project does not get the benefit of the discounted agency blended rate. - Specialized Expertise:
Depending on the project requirements, you can select agencies with specific expertise in that particular area. This enables you to leverage specialized knowledge for targeted campaigns.
Retainer Basis
Working with a marketing agency on a retainer basis involves an ongoing agreement where you pay a fixed fee for a set number of hours per month to retain their services. The agency allocates a dedicated team or resources to support your marketing needs consistently throughout the retainer period.
Benefits of working on a retainer:
- Consistency and Availability:
With a retainer, we commit to a specific number of hours or resources dedicated to your business on an ongoing basis. This ensures availability and consistent support whenever you need it. The team is always the same from project to project, task to task – ensuring we hit the nail on the head the first time as we have learned your business, your preferences and your voice, tone and style. - Priority and Promptness:
Being on a retainer means you receive priority treatment. Your projects and requests are given higher importance, leading to faster response times and quicker turnarounds. - Long-term Relationship:
A retainer arrangement fosters a stronger, long-term relationship between you and your agency. We become familiar with your brand, goals, and preferences, allowing for better collaboration and understanding over time. - Strategic Partnership:
Retainer-based agencies can provide more strategic input and guidance, as we have a deeper understanding of your business. We offer ongoing advice, suggest improvements, and contribute to your overall marketing strategy. - Cost Effectiveness:
Because your dedicated team knows what you like, we use less time to get it done to your preference. Plus retainers are offered at a discounted agency blended-rate.
In summary, the main difference between working on a retainer basis and per-project basis lies in the duration and commitment. Retainers offer ongoing support, consistency, and strategic collaboration, whereas per-project arrangements provide flexibility and specialized expertise for individual initiatives. The choice between the two depends on your business’s marketing needs, budget, and preference for a long-term partnership or project-specific collaborations.
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