Branding can be even more important to the success of your business than the quality of your product. That means that whilst branding can be expensive, it is often an investment worth making. When you consider the amount of work involved in establishing a brand, the costs make sense.
Why branding is important
If you want customers to notice you and want to buy your products, to build strong associations with your name and logo, and to consider you a trustworthy company, a strong brand is essential.
What branding involves
Overall branding costs depend on many factors. Whether you are building a brand from scratch or tweaking an existing name, your target audience size (both in terms of the number of people, and whether they are confined to a local area, or you are expanding internationally), and whether you hire freelancers, an agency or keep everything in-house all make a difference.
Of course, it will probably still be cheaper than rebranding an entire country, but you could be looking at anything from £2,500 for initial brand establishment to £100,000 for longer-term brand strategy.
Logo (freelance graphic designer): £2,000-£5,000.
Fulltime graphic designer: £35,000-£60,000+ per year.
Fulltime creative director: £100,000+ per year.
Visual identity package (website, e-mail and marketing assets): £5,000-£50,000.
Visual style guide (logo, typography, colour palette, photography): £2,500-£10,000.
Website design and development: £5,000-£200,000
Fulltime web developer: £25,000-£75,000+ per year.
Advantages of a brand strategy agency
Using a brand strategy agency such as reallyhelpfulmarketing.co.uk can be a more cost-effective route to follow. This is because a brand strategy agency collects all the necessary services and professional expertise, from market research to web design, under one roof for one price, reducing your expenditure of both time and money.
A wide selection of factors can impact the cost of branding your business. You need to think carefully about whether you need to invent a completely new brand or if you can make adjustments to one already established, the size and location of your target audience, and whether hiring a specialist agency can help make the process more cost-effective.