How to Price, Deliver & Sell Performance-Based Retainers, With Chris Rudolph

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Apr 17, 2024

Guest Chris Rudolph shares insights on adapting agency pricing with performance-based retainers, navigating industry changes, setting performance fees, conducting client audits, and balancing client satisfaction with agency profitability.

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Episode notes

Introduction

00:00 • 2min

Accidental Entry into Agency Coaching and Passion for Developing Skills

01:35 • 2min

Adapting Agency Pricing with Performance-Based Retainers

03:19 • 14min

Shifting Sales Conversations for Agencies and Utilizing Audit Funnels

16:50 • 3min

Navigating Client Audits and Performance-Based Retainers

20:12 • 16min

Investment Diversification, Guest Content, and Podcast Promotion

36:00 • 6min

Points of Interest

00:01 - 00:21 - Introduction: 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 - 01:05 - Chris’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 - 02:41 - Why 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 - 03:11 - Changes in the Agency Landscape: Discussion on how COVID-19 and economic changes have affected agency pricing, scoping, and client retention strategies.
03:11 - 06:17 - Opportunities from Disruption: Chris highlights how disruptions can open up opportunities for agencies ready to adapt, especially in terms of performance retainers.
06:17 - 09:18 - Hybrid Retainer Model: Chris introduces his hybrid model combining flat fee retainers with performance-based components to balance risk and reward.
09:18 - 11:09 - Determining 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 - 18:59 - Setting 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 - 27:09 - Audit 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 - 35:26 - Retaining 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

Connect with Chris through his profile: Chris Rudolph on LinkedIn
Freedom Agency Coach

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