There is no delicate way for an agency to ask you for more money. You've agreed to a contract set at a certain monthly retainer that encompasses all marketing efforts. Leads are coming in, customers are happy, your business is steady but barely growing.
Why would you start paying more? The answer is simple and elegant: you pay for the proof of growth.
Enter: Growth-Driven Retainers (GDRs, as we will refer to them). This method is based on everything you think agencies should be doing for you – and that 'should' is growing your customers.
GDRs ease you into working with a new marketing company using a new process. If you want the full scoop on GDRs, check out our comprehensive guide on the subject.
GDRs function with 3 main pillars: communication, transparency, and predictability. Each of these aspects connect and overlap in a beautiful synchronicity.
Communication is the agency telling you how they expect this marketing project to go and what the results will be. If you're new to digital marketing, you should expect to be educated on the ins and outs of the industry and come away with a good understanding of what to expect.
You should also expect an agency to help you understand the relationship between your company and theirs, and build some benchmarks of how you can work together.
You should finish your initial conversation with the feeling that your GPCTs (goals, plans, challenges, and timing) are being understood.
An agency should be transparent about your investment and their time investment. This includes more than just monthly cost. More than that, you should know what technology you are investing in and how much time or results your agency expects to produce.
You are setting expectations early on of good communication, clear investments, and a sound roadmap for the future.
As an agency sets up strong lines of communication and is clear about a marketing roadmap, investments, and future goals, a pattern of predictability emerges.
Despite an ever-changing digital industry with new technology hitting the market every day, a true GDR process helps familiar patterns of growth and monthly spend emerge.
Over time, your agency should prove that they are a true partner – or even an extension – of your business when they bring everything together.
If an agency has put your business as a true priority, you'll see an amazing partnership start to bloom. As your company grows its customers, your agency grows along side you to meet your needs – and more than that, they'll help you set realistic KPIs and goals that will help you scale up in the future.
If you want to learn more about Growth-Driven Retainers, or you want some more background information, visit our comprehensive resource on the subject.