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I think this article is going to be super relevant about What are Retainer Clients and Why do you need them? So let’s get started.
If you’re a freelancer and you’re worried about how are you going to get your next client and what’s the income for next month’s going to be then.
I think this article is going to be super relevant about what and where to get clients on a retainer and why you should be doing that.
You may always worry about who is going to be the next client and how much are they going to pay me. You don’t know how your income is going to look like and that’s stressful and I think it’s probably the most common issue that freelancers have.
It is a very simple concept in which a client pays you every month on a regular base and you know that this client is going with you forward and you know exactly how much money is entering your bank account next month from this client.
That’s something that gives you the self-assurance and the relaxation to be braver and do new things because you know that your fixed monthly income is being taken care of.
For example, the client who needs an app and their budget are around, let say $3,000 and he needs it in 3 months.
In my experience when you building a website or an app, there are two things happen, there is the scope of the project changes, so you know they might think that they’re the specifications for the website or the app are one thing but halfway through they decide they want to add one more thing and to remove something if you would work on a project base what would happen.
All of a sudden there will be a lot of new work to do and you’ll be upset because you’re going to work more and still get the same amount of money you are getting. So that’s bad.
The other thing is that if you have an idea about how to improve it or add new stuff that you’re not going do that because you don’t want to create yourself more work.
But if you’re working on a retainer then it doesn’t matter, if there is more work, you’ll just work more time and get more money.
There are three types of retainers.
The first retainer is a fixed time retainer and what that means is that you actually sell your client fixed time every week or months. For example, I work with a client for two days every week so he’s paying me no matter what for two days of my time for a week.
I know exactly how much money is coming at the end of the month and every week we’re seeing what we have to do this week and there’s always tons of work to do so. It’s kind of like being a part-time employee but still doing freelancing.
The second concept is the fixed item based.
What that means is that your client is paying to get some types of results every month. For example, he will be getting three new banners every week or two new ads or two landing pages.
So you know what you have to deliver each week, the client knows he needs that on a regular base and so you’ve got this contract where every week or months you provide him with some assets and that’s what he is paying you for every month.
The third type is On a need-based retainer.
What that means is that if your clients have an emergency, for example, his website went down or he needs a quick some Facebook image for a campaign that he’s doing. Then every time he has this type of emergency you’ll be doing the job for him.
That means some months maybe you won’t have any work to do and someones you’ll have a lot of work to do, it’s kind of an insurance policy for your client.
Which he’s willing to pay for that whenever he has this crisis you’re there for him.
I personally like working with on a fixed time base retainer.
Be sure to checkout How To Build a Long Term Relationships With Clients