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I love the elusive retainer. Only had one once for 11 months and only full-filled like 2 projects. An agency/ business has to really want or need YOU specifically for it to happen and that’s usually after you denied freelance and fulltime.
Some stars need to align:
- the clients really need to trust you/want to work with you (maybe you worked with them in the past at your agency)
- the brand needs to be big enough to have an ongoing need for creative work, that they can’t fulfill in house or at an agency
Then, you just agree on a set scope of hours per month and they write you in as a line item on their yearly budget.
Retainers *can* be kind of a pain in the ass though, with a lot of onboarding requirements, insurance requirements, contract negotiations, etc. and once you get into it, having hours/burn rate nitpicked. They’re often booking you just for a set number of hours per month (but not 100% of your time), which can make it difficult to take on other work.
I much prefer day rate to hourly billing, and to be honest, a long term/several-month freelance contract on a day rate is just as good if not better.
And when you consistently deliver for a few clients they will naturally keep coming back too, even without an official retainer.
It takes a lot of work upfront. ID the work and deliverables the *need to fit within the retainer. Take the time to align that work with the right staffing and hours to execute each deliverable and come up with a budget for each project. Be sure to map out the time for all the added administrative-like elements outside of project deliverables (billing, status calls, general client relationship management, etc). Add a 10-20% contingency on top of the total to allow room for 1-2 unidentified project(s) plus things like team promotions. Get yourself a great project manager to keep the team and work moving forward and track it all monthly, if not weekly.
Appreciate the insights guys!
Took me just shy of 8 years to do it but landed two in a year at the same rate and not all that heavy lifting. One was requesting to W2 me and I told them a ceiling test amount, they agreed to piss that idea and stick to a retainer. The other offered a retainer that was decent enough for the workload they asked for…problem is now they’re expecting me to stick with that number for 2026 with 2-3x the demand.
Someone said above, the stars need to align. They’re not wrong.