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"It costs my clients more to churn — so they never do."

A client of mine said that to me this week, and he might have the best agency offer I've ever seen. He's an investment

banker who built a lead generation agency that finds off-market deals for private equity firms — proprietary deal flow the

PE firm's competitors never see.

The model: a seven-figure subscription business, plus a 2% success fee when a deal closes. And here's why his clients never

leave — the retainer is a rounding error against the capital PE firms deploy, but missing one deal costs them millions. When

churning costs your client more than staying, retention stops being something you fight for.

In this episode, I break down how the whole thing works — and what it teaches every agency owner about offer design.