Eric Deeran tells creative agencies struggling with thin margins to switch from one-off projects to retainer clients. A few monthly retainers smooth your cash flow, let you hire and plan ahead, and boost your overall margins.
If you're a video or creative agency that doesn't have great margins and you're doing a bunch of one-off large projects, the number one way to smooth out that revenue and get higher margins is to implement retainers. This is because clients are paying you consistently every single month, meaning you can build predictability around cash flow and hiring people and payroll and expenses and be able to cover all of that with just a few retainers. So if you want to learn about how you can do this, I put together a short video on the next page. Check it out. We'll see you there.
