What Branding Actually Costs
Branding has become a major buzzword as of lately, and there's a lot of misconceptions tied to what the word actually means. One thing is for certain, it's definitely not your logo. Branding goes much deeper than that, and when used correctly it gives your business the best edge in finding success.
As for all things, you can always find a cheaper option. If you want a brand and only have a $500 budget then hop right on Fiverr and get started. But for anyone more serious, the baseline cost is typically anywhere from $2500 to $250,000.
Strategy Vs. Design
Anyone can come up with a bunch of visuals and call it their brand. Heck even AI now can give you a barebones identity so what are you actually paying for with branding? If you're designing without a strategy behind it, then it's just an ornamental piece. The strategy behind the design is what gives it value.
Think of the impact when you identify the target audience and market for your product or service, you know the competition and how you want to position yourself against them—and then design a brand identity to speak to them. First impressions are massive and design when used thoughtfully, can make a big impact on gaining customers.
Take a look at the picture below and think about who you're company is trying to connect with.
Why Some Brands Charge More Than Others
Higher pricing usually reflects deeper research, stronger positioning, and a more complete system that actually moves the business forward. For some branding you might only receive a barebones package i.e. a logo, fonts, colors. Whereas other packages that might be more costly, will help you uncover your core market, how you'll be positioned, and then design to that logic. On top of give you all of the assets you need to get ahead sooner. A good brand doesn't have to take 6 months to develop either. Brand sprints have become much more popular where an agency can hand over a complete strategy and identity in four weeks.
The Difference Between A Logo and A Brand
When branding is done correctly, all of the touchpoints from your website to business cards to marketing materials will all be cohesive. Some brand packages will include much more than just the bare minimum. We've done brands that were very minimal and others that required much more time to research and better understand how the brand would be positioned. Everyone is different in their needs. The industry and competitiveness will dictate that need most of the time.
A brand identity without a strategy beneath is a waste of time and money. Because if it's lacking intention then chances are you will have to circle back and revise it later down the line, which will ultimately cost more.
What You're Really Paying For
When you're spending anything over 10k for a brand you are not just paying for a logo, a font, or a color scheme. You are paying for the thought and intention put behind those assets. You are paying for direction. Why does the logo look this way, what is the psychology behind using these colors, which fonts are best suited for your target audience. Think about how wedding invitations and their fonts usually are more cursive based or decorative, because they convey elegance and class - usually a driving force behind the wedding itself. Nobody is using comic sans on their invitations.
The research done will help you better understand your business and the market you're serving. This will help you cut cost and save time on your marketing and ad spend, because you're not going after everyone - you have a specific demographic of people that you want to engage.
Where Most Founders Get It Wrong
Most founders want to just jump directly into the visuals. What they sometimes miss is understanding their audience or the positioning statement. When you are paying a large sum of money for your branding, you are paying for clarity, direction, and a brand that people actually understand and trust. Not just for a quick visual identity.
How To Know If You're Ready To Invest
If your business has traction but feels inconsistent or unclear, it’s probably time to invest in branding. Most founders and entrepreneurs come up with an idea and hit the ground running. Which is important, because if you don't start immediately that initial spark might fade. But at some point in time the lack of cohesion and control aesthetically starts to show. And that directly translates to risk for customers. When we see a company has a strong brand we put our trust in it, because they clearly take themselves seriously. Otherwise they wouldn't have bothered with creating a brand in the first place.
What A Strong Brand Actually Does
Strong branding makes you the obvious choice. It positions you to immediately connect with your target customers and grow a relationship with them. A good brand can feel like a best friend at times. It's like humanizing a company. The brand becomes an extension of the customers identity, furthering their own belief systems and helping them become the person they want to be.
Ready to get your brand on track fast?