How to get the most from your marketing retainer
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In this week’s episode of Marketing + Margaritas, Jade breaks down the world of retainers + why they’re effective for both agencies and businesses.
A retainer can be a game-changer, but you need to make sure you’re getting the most out of it for your business. Even though we’re focussing on marketing retainers, the same principles apply to other retainers too!
Sounds great! But what is a retainer?
Basically, you pay a flat monthly fee to a service provider + in return they will provide you with a set amount of hours, plus some special treatments + added value, just for being a retainer client 😉
Okay cool, so what are the pros and cons?
Pros:
You get a whole lot of different skills for a set amount each month + most of the time, that amount is less than paying a wage.
When an agency works consistently with a business month after month, it becomes easier to identify opportunities + potential issues to fix.
Cons:
Welllll you do need to pay it every month, but even that has an upside! You’ll know exactly what that monthly expenditure is.
Alright, this is sounding good. Now, how can I make sure I’m getting the most out of my retainer?
If you’ve already got a retainer or you’re considering one, here’s what Jade encourages you to do:
Tip #1: Stay engaged and communicate on the regular
The more we can collaborate with you, the better the results will be. Obvs we will provide our professional recommendations + advice, but the fact is – the more input we get from you, the quicker we can understand what you’re trying to achieve + start tailoring our work to supercharge your ideas!
Tip #2: Leverage the agency advantage
You have a whole team of people at your disposal! Not only does that mean you have a wide set of skills to call on, but they can also handle the tasks you’d rather avoid. For example 👉 If you hate trying to get photos of your team on worksites or at social functions – no problems, get your agency onto it. If you’re not sure where to start with your marketing data – HELLO agency friends, please review my data + give me actionable insights. Better yet, refer to step one and action them for me. Plus, they probably enjoy doing it!
It all comes down to taking the opportunity to call on other people’s expertise + when someone enjoys what they’re doing, you can see the difference. Use your retainer for strategy development too – your agency should be analysing data, coming up with insights, strategising etc. Doing ALL of the things that will not only set you up with your strategy but also push it forward.
A retainer gives you access to specialised skills that move your marketing forward. The longer you work together, the more attuned your agency becomes to your business + you’ll see your strategy working to drive results!
Tip #3: Make use of the learning opportunity
Building on Jade’s point about using your data, you can go even further + get proactive about learning what works for your marketing. Have you heard about A/B testing? The brief explanation – it involves testing two options in the marketplace to see which one performs better + gives you the best ROI. While A/B testing isn’t typically included in standard services, it’s something you can explore through a retainer + will allow you to gain valuable insights over time.
Another hot tip: if you have an agency, you can also be doing training with them to learn more about marketing + specifically how it works for your business. You can upskill yourself + your team, while chucking it onto your retainer.
Tip #4: Make sure your agency is accountable
This last tip may seem obvious, as it should be a given, but you’ve got to check in with your agency – retainers can sometimes lack transparency. You’re always going to know your business better than us, so make sure the hours on your retainer are being spent in the right places. The more you work with an agency, the quicker you can build that relationship + trust them enough for you to step back, letting them manage your marketing. But remember – they should still be super accountable to you 100% of the time!
We’d like to give a special shout out to our Rebel retainer clients, because as Jade points out – this is her podcast, and she can do what she wants 😉