For those owning and operating a design studio, they're fully aware of the importance of creating retainer agreements. However, many clients aren't aware of the several benefits afforded them by using one. For the sake of transparency, it's not always beneficial for designers or clients to use a retainer agreement — each client/designer relationship must be measured individually.
For those enterprises already established and in need of a consistent and regular workflow, it goes without saying that agency retainers are a good move. Nevertheless, businesses just starting out with enough foundational materials to get the ball rolling, 20 to 40 hours worth of completed work each month might be a tidbit too much.
Whatever the case, this short, yet concise, article points out three of the most beneficial aspects of using retainer agreements — for both clients and designers.
1. Peace of Mind
A design agency retainer agreement grants you peace of mind, especially when considering project deadlines.
A retainer agreement should place a lot of responsibility and culpability on the design studio for meeting project deadlines. Nonetheless, it's not all about deadlines either. Indeed, your designer should also show they're willing to take accountability for all of the other project stipulations. If written correctly, a retainer agreement should give you confidence that the designer you hired cares about your brand's success just as much as you do.
2. Spend Less Time Chasing New Clients
Retainer agreements ensure designers spend less time chasing new money (clients) and more time on existing client projects.
One of the biggest issues anyone working in the creative industry faces is being forced by necessity to chase the next payday. Retainers ensure designers won't have to waste a lot of time creating proposals or providing quotes for each individual project. On top of that, designers and clients don't have to fret over a fresh round of invoices each month.
Retainers give designers enough capital to outsource some aspects of a project if they find themselves backlogged (it happens time-to-time — especially during peak seasons). Of course, having a lump sum upfront helps designers focus on their present clients rather than merely surviving from project to project. This forces them to chase new clients — retainers build trust and long-term partnerships.
3. Negotiate Discounts
It's a lot easier for clients to negotiate discounts for a set of projects that will be covered by a retainer agreement compared to many premium freelance fees.
It's not an easy life for freelancers in the design industry who take projects on a payment-by-payment basis. For this reason, many designers who don't require retainers are less likely to negotiate their overall fees. However, for those designers who use retainer agreements, the incentive to negotiate price is there. Not only does this save money but time as well, as there will be far less pre-project agreement making going on. And all the time designers save on things like that goes towards getting your projects finished.
Learn More About Using Retainer Agreements With a Design Studio
For those of you seeking a fresh and honest approach to Facebook/Instagram Ad placement, e-commerce website design, conversion rate optimization, lead generation, brand awareness, and growth hacking, contact us now to learn more about our client-friendly retainer agreements. We specialize particularly in the cycling and outdoor activities industry, however, we can help any business grow.