Retainer vs. Deliverable: Choosing the Right Model to Support Your Business Goals
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Retainer vs. Deliverable: Choosing the Right Model to Support Your Business Goals
When hiring product marketing managers on a fractional basis, one of the first decisions you’ll need to make is whether to work with someone on a retainer or pay them per deliverable. Both approaches have their benefits, but the right choice depends on your business’s specific needs, goals, and how you prefer to manage your resources. Let’s break down the pros and cons of each model and how to determine which is the best fit for you.
The Case for Retainers
Businesses that value consistency and long-term collaboration are best suited for a retainer model. Hiring a fractional product marketing manager on a retainer model does more than securing their availability—it is investing in an ongoing partnership that aligns with your business’s strategic goals. This approach is especially relevant in areas where regular support is critical to maintaining momentum, including content production, social media management, or ongoing analytics reporting.
Retainers also bring regular predictability to your workflow––and your budget. Being able to rely on consistent support lets you focus on driving your business goals while knowing that mission-critical tasks are being handled. At the same time, a long-term relationship fosters a deeper understanding of your brand, enabling your product marketing manager to deliver work that’s both high quality and aligned with your longer-term strategy.
A retainer model can also be highly adaptable to changing priorities and business needs as long as you stay within the agreed scope of work. For example, a retained partner can pivot seamlessly if your focus shifts from creating blog content to optimizing your website. And, when deadlines loom or unexpected challenges arise, you know they’ll prioritize your needs without hesitation.
The Case for Deliverables
When your needs are project-based or tied to specific outcomes, it might make more sense for you to hire by deliverable. This model ties payment directly to results, making it an appealing choice when you need to achieve specific goals within a defined timeframe. For instance, if you’re going to launch a product, redesign a website, or produce a video campaign, deliverable-based hiring is the way to go.
The beauty of hiring a product marketing manager by deliverable is the control it gives you over costs and outcomes. With a clear scope and defined milestones, you’ll know exactly what you’re paying for and when to expect results. This approach also allows you to bring in specialized expertise for niche projects to ensure you have the right talent for the job.
Deliverables can offer you an excellent way to test out potential longer-term collaborations. By starting with a single project, you can evaluate the quality of their work and how they meet deadlines before committing to a more extensive engagement. And, because this model focuses on clear, measurable results, it builds confidence in the process on both sides.
Choosing the Right Model
As a business leader, the decision between hiring a product marketing manager by retainer or deliverable comes down to aligning your hiring model with your broader strategy. Start by considering these critical factors:
- What is the nature of the work? If your needs are ongoing and require consistent attention––such as maintaining a content calendar or managing campaigns––a retainer ensures the work will flow smoothly without interruption. For one-off projects or sporadic needs, deliverables provide more focused support without long-term commitments.
- How does this fit into your financial planning? Retainers provide predictable monthly costs that help with long-term budgeting, making them ideal if you want stable resource allocation. Deliverables, on the other hand, offer flexibility, allowing you to allocate funds dynamically based on immediate needs.
- What type of relationship do you want to build? Retainers foster deeper partnerships and collaboration over time, while deliverables focus on specific outputs and can serve as a proving ground for potential long-term relationships.
- What are your priorities around responsiveness? If rapid turnarounds and immediate availability are crucial, retainers provide that assurance. For less time-sensitive work, deliverables may mean you don’t have to tie up resources unnecessarily.
Aligning Your Hiring Model with Business Success
Cost isn’t the only concern when making the choice between hiring a fractional product marketing manager on a retainer or deliverable-base. It’s about aligning your approach with the strategic needs of your business. Retainers offer consistency, long-term value, and the ability to adapt as your business evolves. Deliverables bring flexibility, focused expertise, and cost-effective solutions for specific goals. By understanding your priorities and thinking ahead, you can confidently choose a model that empowers your business to thrive.
If you’re ready to optimize your hiring strategy, let’s talk. Reach out today to explore how we can help you find the perfect fit for your business needs.
