Over the past few weeks, I’ve been hearing that more agencies are working on projects on a retainer basis vs hourly. My understanding is that the retainer enables an agency to focus on the work versus the administration.
This is intriguing, because I previously wrote that charging by the hour contributed to part of the bad image that PR folks have. It raises several questions for me:
- Are smaller/boutique agencies the only ones doing this?
– Does this result in better quality work?
– Does this mean there is less “nickel and diming” since it’s a set retainer?
Heck, being in-house, I like this. I know what my budget is on a month-to-month basis. No ugly surprises. No explanations to my boss and finance department. What is there not to love.
I posed this question to my twitter folks, “do you think a retainer basis is better than hourly? If so, why?” Here;s the conversation:
I would love to hear from PR agencies and other folks – in-house or agency. Which is better – montly retainer or monthly projections billed against hours?