Video production retainer: Everything you need to know
The vote is unanimous:
That video is the most profitable way to do marketing today, needs no further debate.
And here’s the thing: Many of you’ve already come aboard the video production bandwagon. You’ve been investing well in video to achieve all your business goals. Naturally, as an agency or a business, you’ve signed up with a trusted video production house, maybe even ours, to help you create professional video content that resonates with your client’s business.
So why am I writing this blog post today?
I want to talk to you about something that will take this creative partnership with your video production company to an all new level.
What I’m talking about here is a video production retainer.
Which begs the first question:
What is a video production retainer?
A retainer essentially is an agreement between you the agency, and your video production company where you agree to work together for a stipulated period of time. The time period of the agreement is usually 6months to a year. You pay the video production company a set amount each month as retainer fees. The amount is then adjusted against services provided during the agreement period.
During this time, your video production company works on not one but a series of projects for your company. What a retainer also helps achieve, are long-term goals, priority treatment on projects, as well as a lower-per project cost as you’re essentially pre-paying for the work (buying in bulk).
At the close of the agreement, you can choose to either cease your partnership, or renew it for further projects.
One of the key benefits of a video production retainers is the relationship it builds between your agency and the video production company.
What are the benefits of signing up on a retainer agreement?
- You build a long-term collaboration with your production company which in turn creates room for more feedback, improvements and a solid partnership that is profitable to both parties.
- Your video production company then becomes like an in-house production team, who you can approach directly at any point in time during the period of your agreement and get them to work with you on a priority basis.
- When you purchase in bulk, it really saves you money.
Is a video production retainer right for your business?
Before you consider a retainer, evaluate your video production schedule for the year ahead. If you have for instance a requirement for 3 videos every month and overall, a sizeable amount of content that needs creating, a video retainer works as a great idea.
However, if you or your client doesn’t really have a crystal-clear idea about their long term video-marketing plans, retainers could put a stress on the relationship.
Typically when there’s a steady flow of work and a predictable relationship, a retainer can work wonders. What a retainer also does is helps you take your attention off the paperwork, and focus on creating and executing.
If you have a clear road map of your video marketing goals for the year ahead and want to understand how a retainer can help you, write in today: [email protected]