Can Your Brand Afford a Marketing Retainer?
Spin Creative • October 5, 2020
One of the biggest things stopping companies from exploring the idea of hiring a creative agency on retainer is the belief that they can’t afford it. Too often, you’ll hear of the high costs of marketing retainers, but less of the immense value—and the cost savings—they can provide.
Marketing retainer costs often start at around $1,000 per month and build up from there, climbing much higher for larger businesses with more intensive needs. While you may balk at the cost initially, consider that a pre-determined retainer fee might actually fit within your budget and save you money.
If your company is looking to expand its marketing efforts, think carefully about the costs of scaling marketing up in house versus turning to a strategic partner. The results might surprise you.
Retainers can save costs
When considering whether or not a marketing retainer is within reach for your brand, you’ll first want to reach out to potential creative partners to get quotes based on your needs. Then, compare those costs to the potential costs of your other options, such as using freelancers or creating content in house.
One of the major things most brands find is that the cost of establishing or expanding their in-house marketing team far outweighs the cost of a monthly marketing retainer. Most notably, the costs of salary and benefits for new employees and the equipment required might be more than your company is prepared to spend right away.
Retainer costs are predictable
Another key consideration when planning for marketing costs is their predictability. Outsourcing for marketing projects using freelancers could result in unpredictable costs each month, added fees or price jumps based on the time of year or required turnaround. For many companies, this uncertainty can make or break the ability to expand marketing.
With a marketing retainer, your costs are always predictable, thanks to an agreed-upon price and contract signed up front. You’ll know exactly what you’re getting, when you’re getting it and how much it will cost month over month, making it much easier to work it into your budget and create a long-term strategy.
Think of the ROI
The most important thing to think about, however, is the value
of the content your company will receive in exchange for a monthly retainer. While the cost might seem high at first, you must factor in the return on investment you expect from all that new content.
Working with a creative agency on retainer means you’re getting consistent, high-quality content focused on a long-term goal that you can use to attract new customers, push customers through the buyer journey or turn leads into conversions. If that content is successful in bringing in life-long customers, the cost might pale in comparison to the profits.
When your company wants to take on new marketing projects, don’t discount the idea of using an agency on retainer right away. Consider the costs and the benefits of hiring a strategic creative partner, and say hello
to Spin Creative to learn more.
About Us
Spin Creative is a video production company and creative agency helping marketers create winning video and creative strategies that engage, inspire and activate targeted audiences. Spin is headquartered in Seattle with offices in San Francisco and London, serving brands around the globe.
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