Costs of Branding
Unforgettable logos. Pretty designs. Peppy copies. When it comes to branding it is
not only about a nice look, it is a complex of steps to make your business stand
out. It is branding that builds a unique business identity, connects with customers, and establishes a strong reputation in the marketplace. It is essential to understand that branding your business is very important. Branding creates the first impression and makes people decide whether they want to interact with you or not. That is why it is never a good idea to cut your budget on branding by using free logo constructors and other ways to ‘cut corners’.
When you invest in your brand identity, you invest in the future of your company.
Of course, it costs time, effort, and money, so no wonder everyone is bothered by
the question “what is the exact cost of good branding?’. This question can’t be
called a ‘one-size-fits-all’ because it always depends on the needs, priorities, and
goals of your business. Let’s say, one business will go for a $5,000 ‘drop-it-in-the-
bucket’ package which includes some basic things like logo creation and color
palette. And another will choose a ‘full’ pack with a budget of $30,000! It all
depends on an individual situation.
Also, there are many factors that influence prices. The complexity of the project,
the experience of the branding company or designer, the number of revisions, and how many specialists are involved are the main factors affecting the cost of
branding projects, and the pricing itself. Let’s dive deeper into each of them.
Brand’s mission, company’s tagline, values, goals – all these things are important
when it comes to creating your brand’s strategy. This must be done prior to
working on any visual element. The process involves defining the brand's target audience, values, messaging, name, brand story, and overall positioning. These tasks fall into the internal team or you can always hire a branding agency or a consultant. Prices vary on how difficult the project is and how experienced is the
team that works on it. A simple brand strategy can cost anywhere from $1,000 to
$5,000, while a more comprehensive approach with multiple rounds of revisions
can cost upwards of $20,000. We know, these numbers might seem crazy but you
can get a really good brand strategy without breaking the bank. Just choose the
A logo is basically the face of your company. It should be memorable,
recognizable, unique, and reflect your company’s personality. Never cut corners on the logo because there’s a rule: you get what you pay for. So, if you paid a few
bucks to a non-professional designer, don’t be surprised to receive not what you
were aiming for. Indeed, a logo design can cost from $100 to $1,000, while a more
scrupulous work can cost upwards of $5,000. Keep in mind that you have to
receive all formats files of your logo (from .png to Adobe Illustrator files) with
different backgrounds and a variety of mock-ups. Logo Design is pricey because it
is a very time-consuming process and the team (or designer) has to do their best to customize it to your liking.
Visual Identity System
Brand Strategy and Logo Design are definitely the most important, time and
money-consuming processes. However, once it is done, you should start working
on a visual identity system for your brand. What is that? Basically, it is your
signature color palette, typography, and other design elements. A comprehensive
visual identity system can help ensure consistency across all marketing materials
and reinforce the brand's messaging. Once again, the cost of this service depends on many factors but mostly on the number of design elements required and the experience of the designer or agency. A basic visual identity system can cost anywhere from $1,000 to $5,000, while a more comprehensive one can cost
upwards of $20,000.
Your team has to know how to use your brand's visual identity across all marketing channels right. It might be challenging to keep your eye on everything so brand guidelines come in handy as it explains logo usage, color usage, typography, imagery, and other design elements to the team. Editorial and style guides help to ensure consistency across all marketing materials and help protect the brand's visual identity. The cost of brand guidelines depends on the amount of work, the complexity of the project, and the experience of the designer or agency. Normally, a basic set of brand guidelines starts from $1,000 to $5,000, but if you want it to be more complex, it can cost upwards of $10,000.
No decent brand can exist without its own website and the design of your website
is an essential component of a brand's online presence. It should reflect the brand personality, be easy to use, and be visually appealing. When it comes to website designs, the prices can be really different. If you need a simple website design, it can cost you anywhere from $1,000 to $5,000, But if you are aiming for a complex design with many pages, you may pay up to $10,000.
Marketing materials include business cards, brochures, and other advertisement
materials that help businesses promote their brand and connect with customers.
However, this type of marketing is no longer in priority so it won’t cost you crazy
money. Of course, the price always depends on the type of material and the
quantity required. So, to develop them you might pay from $50 to $500 for a
simple business card design. If you need a more complex brochure design, it can
cost up to $5,000.
Ongoing Brand Management
The last step that should be taken in your way of branding is management. You
have to be sure that your brand remains consistent across all marketing channels.
Ongoing brand management includes social media management, public relations, and advertising. The price tag depends on the complexity of your requests and, of course, the experience of the team. Social media management can cost anywhere from $500 to $5,000 per month, while public relations and advertising can cost upwards of $20,000 per month.
Branding is fundamental, so cutting corners can be detrimental to your business.
Of course, it is always tempting to choose the cheapest option but keep in mind
that if you don’t want to invest in your company and you don’t see its value why
your customers should? Strong branding can help a business stand out in a
crowded marketplace, connect with customers, and establish a reputation for
quality and reliability. Paying for good branding is investing in the future of your
company which will bring success in the long term.