How much does branding actually cost?
For all businesses looking to brand, the question about the cost and budget required for the job is usually first on the list. But how much does a branding job actually cost? Well, the answer is… how big is your budget, and what do you want to achieve?
If you speak to a brand strategy agency, they will of course charge more than if you deliver a branding job in-house with your existing resources. But there is always a huge degree of flexibility built in when you speak to a brand strategy agency about delivering this type of job.
For example, you might be a small business looking to launch a niche brand in a limited geographic area and with an obvious target group of customers. This will mean that your logo development is relatively quick and easy, your marketing materials are likely to be small and focused and you may not need to spend much on aligned channels such as online advertising and website development.
On the other hand, for a larger company looking to rebrand, the job is likely to be complex and time-consuming, with various products, markets, channels and customers to consider. There may be comprehensive market research required and a large team involved to deliver different aspects of the job.
What’s right for you?
A good starting point is to assess your branding objectives and then work out what your budget might be. This will give you a starting point for consideration.
You also need to examine what kind of in-house marketing team you have, whether you already have a clear brand in mind and what kind of specialist support you will need. This will help you to achieve a realistic price for your branding project, whether that’s in the region of a few thousand pounds for a focused start-up or a multi-million-pound job for a global blue-chip.