A retainer fee is a flat, “all-in-one” fee for a specific service you will be giving to your client. This could be SEO, content marketing, email marketing, and so on.
It usually includes a set scope of work per month. For example, if you’re a content marketing agency this could be:
1. 5x SEO-optimized blog articles
2. Distribution strategy and implementation
3. Graphic design (5x custom images for each article)
…and so on.
Any extra work outside this agreement can be billed separately or adjusted in the next cycle.
Agencies typically also keep a “retainer fee tracker” to track how much has been delivered during the month and what else is left (or what can be added on).
Most retainers are paid on a month-by-month basis, although some agencies prefer to sign contracts with their clients for a minimum of 3 months retainer.