How much does branding cost?
Great question and one we get asked quite regularly. Are you looking to build a brand from scratch, or refresh an existing one? This article will help define exactly what you need before giving a price.
Branding should be considered an investment not a cost, very much in the same way you should view a website – it needs to generate ROI from the price paid. Have it work for you. Not seen as a bitter cost for something to sit there.
Branding doesn’t need to be expensive, it does need to be effective. Back in 1983 Nike invested every dollar they could raise ($10m total) in TV advertising and an endorsement – this returned millions for them, yet if they marketed themselves as what they were then, it wouldn’t have been a success. They rebranded considering their global superstar endorsement (Michael Jordan) what would he wear, what brand would he be proud of, what will his fans follow, how will it affect our sales. Along with the rebrand of NIKE, they also paid a designer for the brand marque (the swoosh), a considered brand element. Do you know how much they paid? I’ll keep you in suspense a little longer.
Ask yourself:
1. Who do I want my brand to compare to?
2. What do I want my business to represent?
3. What can I afford to invest?
4. Who do I choose to work with?
Think of your business as a car brand, and ask yourself the first question.
Do you want to be like Toyota? Produces good cars, run for miles, easy to get parts for, non-luxury. What about Ford? Slightly better build, better quality interiors, more features solid performance, reliable, diverse… Audi, high performance, ultra-efficient, more expensive but offers value or Ferrari, luxurious, fast, perfectly engineered, expensive, desired yet unobtainable (for the masses).
None of your answers are right or wrong – but it’s a good tool for measurement. My companies I always peg to that of Audi; desired, affordable, efficient, high-performing, considered and obtainable.
As I mentioned earlier, try not to consider a brand as a cost, but an investment – speak to an branding agency in Dubai that doesn’t just ‘design pretty’ but actually thinks about the future of the business. Will the brand design have dated in one years’ time? Will it still look strong and competitive in five years?
Who do you work with? At this point I’m obliged to mention AdBrand, yet this may not be the answer that suits you. Work with a branding agency not just for their portfolio, but for their personality. Do they get it? Do they understand what you want? Are they looking to share long-term success? Will they offer payment terms to help out? If you meet an agency who gives you confidence, then stick with them. The more you commit, the more they will. We’ve got a portfolio of clients we’ve worked with for the past eight years – which says a lot huh?!
The AdBrand creatives specialise in not just being able to build brands, but help you understand the psychology of design with the researched and developed rationale behind out routes.
If you are ready with questions, ideas and a focus, then contact AdBrand and we’ll show you the value behind your initial question, “how much does a brand cost”.
Oh, and they answer to the NIKE swoosh… they paid just $35. Imagine how much that is worth now!?
Thank you for reading and if you have time click through to see our work.
