STOP SELLING RETAINERS (and monthly payment plans)

Seriously. Just STOP IT!

Do you have an advisor or a channel account manager that's suggesting, "All you need is 6 clients that are willing to pay you $3,333.33/month and you'll be earning $240K/year. So, just go find 6 clients willing to pay a $3,333.33 monthly retainer."

RETAINERS SUCK!

They suck for agencies.

They suck for clients.

Why? Agencies bust their tail to develop a scope of work. We'll do this and this and this.

There may be a negotiation. Maybe the price holds, maybe not, but from day 1, the client is watching. They want to make sure that they get $3K worth of effort every month, but they also are watching to see if the results happen. No results? We're outta here! The agency is on notice from Day 1.

They suck for clients. Why? Agencies expect their clients to decide on a lifetime relationship and let's face it. We didn't marry our spouse after one date and (sorry to say) the divorce rate is something like 50%. Retainer relationship for life is ludicrous, but from Day 1, the agency is running for re-election and more interested in their monthly check than they are in actually having their client make money.

Selling retainers used to be hard. Now, it's pretty freaking impossible because they they sound like, "Pay me every month for the rest of your life and I'll do as little as I can to justify your continued payments."

  1. Focus on what your prospective client wants, big picture, long term.
  2. Focus on what neither of you know that you need to know.
  3. Let them buy that (a strategic plan).

How many contacts in your database? How many connections do you have on LinkedIn? How many other social media followers do you have?

If you knew how to approach them and focus on the three points above, how hard do you think it would be to get two of them to hire you this month?

If you want me to help you, listen for the click.


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