Branding is essential for any business that wants to stand out from the competition and succeed. It includes ideas for your company name, slogan, brand positioning, brand story, and messaging. Studies show that companies with established brands consistently outperform their peers on average, meaning they are more likely to succeed than companies without any kind of cohesive branding. To ensure success, it's important to work with a professional digital agency that understands the current market environment and can take into account factors such as fluctuations in the market, trends, competition and social values.
When it comes to pricing, it all depends on what the different freelancers and agencies mean by “brand” and what their ultimate business objective is with the brand project. Generally speaking, brand costs can require up to 30% of your initial budget, but this investment will pay off as recent studies show that brand consistency and importance increases revenues by nearly 35%. The rebranding process requires specific knowledge and experience from researchers, brand strategists, specialized brand identity designers, marketers, digital strategists, ad creatives, architects and communication professionals. Before you decide on a branding agency, make sure you understand the ins and outs of the work you're paying for.
It's also important to consider whether it makes sense to bring in someone from outside or if you can complete the work in-house. A naming agency will develop names that work with your brand positioning, conduct competitive analysis to investigate the tone, strength and message of these names, and pre-select them for trademark availability. The agency will also create guidelines that show font options and when to use them, the brand colors that will be used to maintain brand consistency, and logo variations. Most importantly, brand strategy makes visible the value of your brand and what differentiates it from the rest.
In conclusion, investing in a branding agency is essential for any business that wants to stand out from the competition and succeed. While it may require up to 30% of your initial budget, this investment will pay off as recent studies show that brand consistency and importance increases revenues by nearly 35%. Make sure you understand the ins and outs of the work you're paying for before deciding on a branding agency.