For agency owners · The RaaS Playbook

SaaS is dying.
Agencies get paid for results.

RaaS (Results as a Service) means your client pays when your work produces a result, not for your hours or for a tool.

Inside: every headline behind the shift, explained in plain words with the source. How RaaS works and how to price it. And 12 offers for different kinds of agencies, each with what counts as a result, a worked price and a pitch line.

Part 1

What happened, in order

In February 2026, investors started dumping software stocks. By May, the two biggest AI labs had both launched services companies. Here's each headline and what it means for you.

Feb 3, 2026 · Bloomberg

"We call it the 'SaaSpocalypse'"

Anthropic, the company behind Claude, released an AI tool for in-house lawyers. Shares of legal software and publishing firms tumbled the same day. A trader at the investment bank Jefferies told Bloomberg: "We call it the 'SaaSpocalypse,' an apocalypse for software-as-a-service stocks."

What it means: when an AI tool can do the job a software product was sold for, investors stop believing that product can keep charging what it charges.

Bloomberg: Traders Dump Software Stocks as AI Fears Erupt

Feb 3, 2026 · Axios

"The AI disruption in software is here"

Axios reported the same slide: Anthropic's release triggered a sell-off across software stocks.

Axios: The AI disruption in software is here

Feb 4, 2026 · Bloomberg

A trillion-dollar tech wipeout

In two days, hundreds of billions of dollars were wiped off the stocks, bonds and loans of tech companies. Software was at the center: the software stocks in one iShares fund lost almost $1 trillion in value over seven days.

What it means: this wasn't one company having a bad week. Money left the whole "sell software by the seat" model at once.

Bloomberg: Trillion-Dollar Tech Wipeout Ensnares All Stocks in AI's Path

Feb 5–6, 2026 · CNBC

"Illogical panic or a SaaS apocalypse?"

Anthropic's new tools for its Claude "Cowork" agent handle work that software and data companies sell as core products: legal research, CRM, analytics. The S&P 500 Software & Services Index fell over 4% in a day, its 8th losing session in a row, and was down about 20% for the year. Hedge funds had already bet about $24 billion against software stocks. Thomson Reuters, Salesforce and LegalZoom were among the hardest hit.

The other side, to be fair: Nvidia's CEO Jensen Huang called the idea that software will be replaced by AI "the most illogical thing in the world," and Wedbush said the sell-off priced in an "Armageddon scenario" that's "far from reality." Constellation Research put the real worry this way: not that software dies, but that AI limits how much software companies can charge.

CNBC: AI fears pummel software stocks

Feb 27, 2026 · CNBC

"Now it's facing an 'existential' crisis"

By the end of February: Salesforce down 21% for the year, ServiceNow 26%, Adobe 22%, Intuit 37%. The fear: companies buy fewer software seats when AI does the tasks the seats were for. Mistral's CEO told CNBC that more than half of the software in a company could be replaced by AI. An investment director at GAM said the software model "in its current form is impaired."

What it means: the price per seat is under attack. The value is moving to whoever makes the work actually happen.

CNBC: Software was going to eat the world. Now it's facing an 'existential' crisis

Mar 2026 · Sequoia

"Services: The New Software"

Julien Bek, an investor at Sequoia (one of the most famous venture firms), wrote that the next trillion-dollar company will be "a software company masquerading as a services firm." In plain words: AI does the work, and the customer buys the finished work, not a tool. The post passed 1 million views on X within days, and Fortune covered it in April.

What it means: the smartest money in tech now funds companies that sell done work. That's what an agency is.

Fortune: This Sequoia partner thinks AI-enabled services are the new software

Apr 13, 2026 · HubSpot

"Now you pay when the task is complete"

HubSpot switched two AI agents to paying per result. Its Customer Agent went from $1 per conversation to $0.50 per resolved conversation. Its Prospecting Agent went from a monthly charge per contact to $1 per lead recommended for outreach, meaning you pay when a prospect gets qualified and handed to your team. HubSpot says the Customer Agent resolves 65% of conversations for 8,000+ customers. Its Chief Customer Officer: "You pay when it works, full stop."

What it means: a public software company just priced its AI on results. Your clients will soon expect the same from you.

HubSpot newsroom

2026 · Intercom

$0.99 per resolved ticket

Intercom prices its Fin AI agent from $0.99 per outcome: a customer question Fin fully resolves. No resolution, no charge for that ticket (Intercom still has seat plans on top).

Intercom pricing · Fin pricing

May 4, 2026 · Anthropic

Anthropic launches an AI services company

Anthropic, Blackstone, Hellman & Friedman and Goldman Sachs formed a new company that works with mid-sized businesses (think community banks, manufacturers, regional health systems) to put Claude into their most important work. Engineers sit with the customer, find where AI helps most, build the system and support it long term. More investment firms back it, including General Atlantic, GIC and Sequoia Capital.

What it means: the makers of Claude decided the money is in doing the work for the client, not just selling access to the model.

Anthropic: Building a new enterprise AI services company

May 11, 2026 · TNW

OpenAI launches a $4 billion services company

OpenAI set up the OpenAI Deployment Company with more than $4 billion from 19 investment firms led by TPG (with Advent, Bain Capital and Brookfield). It puts OpenAI engineers inside client companies to get AI from pilot into daily work. To staff it fast, OpenAI is buying Tomoro, an AI consulting firm whose clients include Mattel, Red Bull, Tesco and Virgin Atlantic. OpenAI's COO: "Our customers tell us they need help going from pilot to production."

What it means: the makers of ChatGPT are building an agency. The bottleneck isn't the AI anymore, it's someone who makes it work inside a business.

TNW: OpenAI launches $4bn Deployment Company

The whole story in one line

AI made software cheap, so tools are losing their pricing power. Results are still rare, so the money is moving to whoever delivers them. The AI labs are building services companies to catch it. You already run one.

Part 2

How RaaS works

You sell a result the client can count. AI does most of the work, so your cost per result drops, and you keep the difference.

RetainerSoftware (SaaS)RaaS
Client pays forYour hoursAccess to a toolA result
Who does the workYour teamThe clientYou, with AI
Client's riskHigh: pays even if nothing worksHigh: pays even if no one uses itLow: no result, no bill
Your upsideCapped by hoursn/aGrows as AI cuts your cost per result

How to price a result

Step 1 · What one result is worth to themUse their own numbers. A booked call is worth their average deal size × the share of calls that close. A resolved ticket is worth what a ticket costs them today.
Step 2 · Take a shareCharge a slice of that value, often 10 to 30%, so the deal is an easy yes for them.
Step 3 · Check your costAdd up AI, tools, sending, data and your team's time per result. If your price isn't comfortably above it, change the offer before you quote.

Every price on this page is a worked example, not a market rate. Set yours from the client's numbers and your own costs.

The 5 lines every RaaS contract needs

  1. The result, in one sentence. Specific enough to count in a spreadsheet.
  2. Who counts it, and where. A shared sheet or dashboard both sides can see.
  3. A setup fee or monthly base. It covers your tools until the results flow.
  4. A monthly cap. A great month shouldn't break their budget.
  5. What's out of scope. Name the things you won't be judged on.

Part 3

12 offers, by agency type

Find your kind of agency, then open the offer for the details. Pick one. Don't build them all.

If you run a…Sell…
Lead gen / cold email agencyHeld sales calls
Paid ads / performance marketingQualified leads
SEO agencyPage-1 rankings that hold
Email / e-commerce marketingRecovered revenue
Social media agencyQualified inbound DMs
Design agencyApproved designs in 48 hours
Web / CRO agencyConversion lift
Video / content studioReady-to-post videos
AI automation / supportResolved tickets
Recruiting agencyHires who stay 90 days
Bookkeeping / finance opsBooks closed on time
PR agencyEarned media placements
1
Lead gen · cold email · appointment setting

Held sales calls

Qualified sales calls that actually happen on your client's calendar.

Pitch lineYou only pay for calls that happen, with people who fit your buyer. No calls, no invoice.
How it works

Deliver it with AI

  • AI builds and researches the list: titles, company size, recent hiring or funding.
  • AI writes a personal first line per lead; you approve the templates.
  • AI sorts replies, so a person only handles the interested ones. Send from separate domains, never the client's main one.

What counts

  • The prospect matches the agreed buyer (title, size, industry, region).
  • The call is held. No-shows don't count until rebooked and held.
  • The prospect isn't already in the client's CRM.
Worked price$10,000 average deal, 1 in 5 calls closes → each call is worth $2,000 to them. $200–$400 per held call is 10–20% of that, plus a small monthly base for sending costs.
  • Protect yourself: a setup fee for domains and inboxes; a monthly cap; a call the client cancels or misses still counts as held.
2
Paid ads · performance marketing

Qualified leads

Leads from your campaigns that pass the client's own qualification rules.

Pitch lineYou pay per lead your sales team would actually call. Junk form fills are on us.
How it works

Deliver it with AI

  • AI generates and tests ad angles and creatives at a volume a team can't match.
  • AI scores every lead against the qualification rules before it reaches the client.
  • Ad spend stays on the client's card, so you're paid for qualification, not markup.

What counts

  • Agreed fields are real (work email, company, budget or need answer).
  • It matches the target market and isn't a duplicate or a competitor.
  • The client's team doesn't reject it within 7 days with a reason from the list.
Worked priceIf 1 in 10 qualified leads becomes a $3,000 customer, a lead is worth $300. Charge $40–$60 per qualified lead plus a management base, or switch to a share of revenue once tracking is trusted.
  • Protect yourself: agree a minimum test budget; you're not responsible for leads the client never follows up.
3
SEO agency

Page-1 rankings that hold

Agreed buying-intent keywords on Google's first page, kept there.

Pitch lineYou pay for each keyword we get onto page one and keep there. Until then, you only pay the base.
How it works

Deliver it with AI

  • AI maps keyword clusters and drafts pages; editors add real experience and facts.
  • AI audits technical issues and internal links across the whole site.
  • Track rankings weekly in a dashboard the client can see.

What counts

  • A keyword from the agreed list ranks in the top 10 in the agreed country.
  • It stays in the top 10 for 30 days in a row.
  • Branded keywords (their own name) don't count.
Worked priceA keyword that brings 300 visits a month at a 2% conversion and a $500 customer value is worth $3,000 a month to them. A monthly fee per keyword held, plus a base for content, keeps both sides honest.
  • Protect yourself: SEO is slow; keep a base for the first 3 months. Google updates are a shared risk; say so in writing.
4
Email / e-commerce marketing

Recovered revenue

Sales from abandoned carts, win-back and post-purchase flows you build and run.

Pitch lineWe only earn a cut of the sales our emails bring back. If they don't sell, we don't eat.
How it works

Deliver it with AI

  • AI writes and tests subject lines, offers and send times per segment.
  • AI segments customers by what they bought and how recently.
  • Reports pull straight from the store's own numbers.

What counts

  • Revenue the email platform attributes to your flows, with an agreed attribution window (for example 3 days after a click).
  • Refunds are subtracted.
Worked priceFlows that bring back $40,000 a month: a 10% share is $4,000. Add a setup fee for building the flows.
  • Protect yourself: a monthly minimum; the client keeps discounts and stock in line with what you promote.
5
Social media agency

Qualified inbound DMs

Real potential buyers who message the client because of the content you make.

Pitch lineStop paying for likes. You pay for buyers who slide into your DMs.
How it works

Deliver it with AI

  • AI turns one idea into scripts, carousels and captions for each platform.
  • A comment-keyword funnel (ManyChat or similar) sends a free resource and starts the conversation.
  • AI tags each DM as buyer, curious or spam.

What counts

  • The person matches the client's buyer and asks about the offer or a price.
  • It's a new contact, not an existing customer or a friend.
Worked priceIf 1 in 8 qualified DMs buys a $1,200 package, a DM is worth $150. Charge $25–$40 per qualified DM on top of a content base.
  • Protect yourself: the client answers DMs within 24 hours; slow replies aren't on you.
6
Design agency

Approved designs in 48 hours

Finished, client-approved designs (ads, social posts, landing sections), billed only when approved.

Pitch lineYou only pay for designs you approve. Revisions until it's right, delivered in 48 hours.
How it works

Deliver it with AI

  • AI drafts several directions in minutes from the brand kit; a designer picks and polishes.
  • AI resizes each design to every format the client needs.
  • A shared board tracks requests, versions and approvals.

What counts

  • The client marks the design approved, or doesn't ask for changes within 3 days.
  • Delivered within 48 hours of a complete brief.
Worked priceA freelancer charges by the hour and takes a week. $60–$150 per approved ad set or post, with a monthly minimum, is cheaper for them and still profitable because AI cuts the drafting time.
  • Protect yourself: set a revision limit per design; new ideas count as new designs.
7
Web / CRO agency

Conversion lift

More sales or sign-ups from the same traffic, proven with an A/B test.

Pitch lineWe only get paid if your page converts more. If our version loses the test, it's free.
How it works

Deliver it with AI

  • AI reviews session recordings and analytics to find where people drop off.
  • AI builds page variants fast; you test the strongest against the original.
  • Run each test until it has enough visitors to be sure.

What counts

  • The new version beats the original in a fair A/B test, at the agreed confidence.
  • The lift is measured on the agreed goal (sales, sign-ups, booked demos).
Worked priceA page making $50,000 a month gets a 10% lift → $5,000 extra per month. A 20% share of the extra for 6 months is $1,000 a month, plus a setup fee.
  • Protect yourself: agree a minimum traffic level; a test that can't finish isn't your fault.
8
Video / content studio

Ready-to-post videos

Short videos edited, captioned and approved, ready to post, paid per approved video.

Pitch lineSend us raw footage. You pay per video you'd actually post.
How it works

Deliver it with AI

  • AI finds the best moments in long footage and cuts first drafts.
  • AI adds captions, cleans audio and resizes for each platform; an editor finishes.
  • Optional bonus on views or shares once you trust the numbers.

What counts

  • The client approves the video, or asks for no changes within 3 days.
  • Delivered in the agreed time after the footage arrives.
Worked price$80–$200 per approved short, with a monthly minimum of 8–12 videos, plus a bonus per video that passes a view target.
  • Protect yourself: bad or missing footage resets the clock; music licensing is the client's call.
9
AI automation · chatbots · support outsourcing

Resolved tickets

Customer support tickets solved without a person stepping in. (Intercom and HubSpot already price this way.)

Pitch lineYou only pay for tickets our AI fully solves. If your team has to step in, it's free.
How it works

Deliver it with AI

  • Train an AI agent on the client's help docs, past tickets and policies.
  • It answers in chat and email; anything it can't solve goes to their team with a summary.
  • Every week, review what it missed and add the missing answers.

What counts

  • The customer says it's solved, or doesn't ask again within 3 days.
  • No one on their team touched it. Reopened within 7 days doesn't count.
Worked price$6,000 a month of support pay ÷ 1,500 tickets = $4 per ticket today. $1–$1.50 per resolved ticket saves them more than half. Add a setup fee.
  • Protect yourself: a monthly minimum; refunds, complaints and legal issues stay with their people.
10
Recruiting agency

Hires who stay 90 days

Placed candidates, paid in full only if they're still there after 90 days.

Pitch lineYou pay for hires who stay, not for CVs.
How it works

Deliver it with AI

  • AI sources and screens candidates against the role's must-haves.
  • AI writes personal outreach and schedules first calls.
  • A recruiter runs the real interviews and the offer.

What counts

  • The candidate accepts, starts, and is still employed on day 90.
Worked priceCharge a share of first-year salary: half at the start date, half at day 90. AI sourcing lets you fill roles faster and price below a traditional agency.
  • Protect yourself: if the client fires without cause or changes the role, the fee stands.
11
Bookkeeping · accounting · finance ops

Books closed on time

The client's books, reconciled and closed every month by a set date.

Pitch lineYour books closed by the 10th, every month. If we're late, you pay less.
How it works

Deliver it with AI

  • AI sorts bank transactions and matches receipts and invoices.
  • AI flags anything odd for a person to check.
  • A person closes the month and sends a short summary.

What counts

  • Every account reconciled and the month closed by the agreed date.
  • P&L and balance sheet delivered. Late means a discount, for example 20% off that month.
Worked priceThey pay a part-time bookkeeper $1,500 a month. $900 for books closed by the 10th, with a late discount, is an easy yes.
  • Protect yourself: the deadline starts when documents arrive; catch-up months are a separate fee; tax advice is out of scope unless you're qualified.
12
PR agency

Earned media placements

Articles, interviews and podcast spots in agreed outlets, paid per placement that runs.

Pitch lineNo retainer for "outreach." You pay when the story runs.
How it works

Deliver it with AI

  • AI finds journalists and podcasts covering the client's topic right now.
  • AI drafts tailored pitches; a person sends and follows up.
  • AI watches for expert-quote requests the client can answer fast.

What counts

  • The piece is published or aired, names the client, and is in an outlet on the agreed list (tiers by audience size).
  • Paid or sponsored placements don't count.
Worked pricePrice by outlet tier: a niche podcast at one rate, a trade publication higher, a top national outlet highest. Agree the tiers in writing before you pitch.
  • Protect yourself: the client approves the angle before you pitch; a journalist cutting the quote after publishing still counts.

Part 4

How to sell one this month

Start with clients who already trust you. A 30-day pilot gets a yes faster than a cold pitch.

  1. Pick the one offer closest to what you already deliver.
  2. Write what counts as a result in one short paragraph. That's the core of your contract.
  3. Offer it to 3 existing clients as a 30-day pilot, with a setup fee or a small base.
  4. Log every result in a sheet the client can see: date, item, result yes or no.
  5. After 30 days, show the numbers and move them to full pricing. Use the same numbers to pitch new clients.

Watch-outs

Cash flowYou're paid after results, so keep a setup fee or base until you know your numbers.
Count it or don't charge for itIf a result can't be counted in a spreadsheet, it turns into an argument.
Gaming cuts both waysYou'll be tempted to count weak results; they'll be tempted to reject good ones. Written rules protect you both.
Know your cost per resultAI, tools, data and your time. Work it out before you quote, or one bad month eats your margin.

Sources

Prices in the offers are worked examples, not market rates. Quotes and figures are as reported by each source on the date shown.