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How to Price, Deliver & Sell Performance-Based Retainers, with Chris Rudolph — Ep. 139

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Last updated Apr 25, 2024

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How to Price, Deliver & Sell Performance-Based Retainers, with Chris Rudolph — Ep. 139

Last updated Apr 25, 2024 | 0 comments

Parakeeto

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About this Episode

In this episode of the Agency Profit Podcast, host Marcel Petitpas and guest Chris Rudolph, Founder @ The Freedom Agency Coach dive into the nitty-gritty of performance-based retainers for agency services. Chris, a seasoned business coach with a knack for helping agency owners grow their businesses without the hustle, shares his journey from stumbling into coaching to becoming a passionate advocate for agency success. He discusses the evolution of agency pricing and scope, emphasizing the shift towards performance-based retainers amidst economic changes and client uncertainties. Chris introduces a hybrid model that combines a flat fee with a performance-based component, allowing agencies to cover costs while offering clients a lower-risk investment. This model aims to maintain client trust by adjusting as the agency-client relationship evolves, ensuring agencies don’t overextend into high-risk situations or miss out on deserved revenue.

The conversation also covers strategies for acquiring and retaining clients through audits, the importance of clear communication, and managing the balance between performance-based and traditional retainer clients. Chris’s insights offer a roadmap for agencies looking to adapt to changing market demands while fostering growth and sustainability.

Hop into the episode below.

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Points of Interest

  • 00:01 – 00:21Introduction: Marcel introduces the episode and guest Chris Rudolph, a business coach specializing in helping agency owners grow their businesses and improve their lifestyles.
  • 00:21 – 01:05Chris’s Background: Chris shares his journey from starting in the fitness industry to coaching agency owners, emphasizing his accidental entry into the agency space.
  • 01:05 – 02:41Why Agencies?: Chris explains his focus on agencies, driven by their unique challenges and his passion for helping agency owners develop CEO skills they typically lack.
  • 02:41 – 03:11Changes in the Agency Landscape: Discussion on how COVID-19 and economic changes have affected agency pricing, scoping, and client retention strategies.
  • 03:11 – 06:17Opportunities from Disruption: Chris highlights how disruptions can open up opportunities for agencies ready to adapt, especially in terms of performance retainers.
  • 06:17 – 09:18Hybrid Retainer Model: Chris introduces his hybrid model combining flat fee retainers with performance-based components to balance risk and reward.
  • 09:18 – 11:09Determining the Base Retainer: The conversation dives into how to calculate a base retainer that covers costs and a margin, ensuring agencies don’t lose money on performance-based contracts.
  • 11:09 – 18:59Setting Performance Fees: Tips on simple and effective ways to structure performance fees based on net sales, ROAS, or cost per lead, depending on the agency’s services.
  • 18:59 – 27:09Audit Process for Client Acquisition: Chris describes the process of conducting audits for potential clients to assess fit and demonstrate value before proposing a retainer model.
  • 27:09 – 35:26Retaining Clients Through Transition: Strategies for transitioning existing clients facing churn or cancellations to the hybrid performance-based model as a way to retain their business.

Show Notes

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