image for post - FT 035: How to Grow Your Client Value Using Retainers with Jarrod Drysdale

FT 035: How to Grow Your Client Value Using Retainers with Jarrod Drysdale

Finding and onboarding new clients can be extremely time consuming. So wouldn't it be better to turn clients you already have into ongoing work?

I chat with Jarrod Drysdale of Studio Fellow on how he uses retainers to turn one-time projects into ongoing engagements. And what retainers are (and aren't) in the first place.

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Jared shares with us:

  • The Benefits of Adding Retainers: Retainers can create a much smoother income stream and ultimately mean far less time spent searching for new clients.
  • What Retainers Are: Jarred explains his retainer structure, when to introduce a retainer, and what that could look like (using a designer as an example).
  • How to Transition from Single Project to Retainer: Don't start at the retainer! You want to make sure that this is a good relationship first. Then examine the client's goals with them, position yourself as the person that can help them reach their goals, and you've got the foundation for a retainer.
  • What to Deliver Through Retainers: We discuss what types of work make sense for a retainer, and the importance of delivering something meaningful to the client and which you want to be doing. A retainer filled with low-level maintenance tasks won't bring much value to either side.
  • How to Price and Create Value in Retainers: Jarrod discusses how to come up with pricing for your retainer, and how to deliver extra value beyond hours by for example including a monthly report (as he learned from Brennan Dunn).
  • How to Build Long Lasting Client Relationships: The ultimate goal is to keep that client and build a longer and more profitable relationship. We discuss positioning yourself as the expert, educating your clients, and building that critical trust.

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