What can branding do for your business? A look at some of the biggest businesses in the world such as Google, Apple, and Amazon is enough to answer your question. All these multinationals have a unique and recognizable brand which makes them so popular among the consumers. Their brand vision, the way they communicate and the products they sell has given a distinct feel to their brand.
Your brand is a way to identify your business. It is how your customers recognize you, and in turn, experience your business. A strong brand is more than just a logo design and some pretty colors. Your brand depends on how you conduct your business, how you interact, how you advertise, the vocabulary you use, the values you instill in your employees, and more. Branding plays a pivotal role in any business success and us as a digital transformation agency in Sydney understand that.
To give a boost to your branding you can use a combination of brand strategy and brand identity. Brand Strategy comprises of summary of actions for your business that help plan long-term goals for your brand. It is the backbone of your business strategy. A successful brand strategy carefully defines the purpose and emotion behind the action.
Brand Identity
Your brand identity is the visual element of your brand such as your logo, color palette, website design, marketing material and other. To build recognition among customers you need a strong brand identity. Your business’ brand identity should reflect your brand strategy and story. The visual elements should be able to convincingly tell the story of your brand.
Which branding services your business requires depends on your business type, goals, and vision. Once you have nailed down your marketing plan and brand identity, the agency should then finalize their work to form the brand guidelines. Brand guidelines are the "go-to-guide" for your company to clarify your brand or refresh other elements.
The cost of branding is not dependent on one single factor. It is an amalgamation of several factors. To correctly estimate the cost of branding you need to ask yourself a few questions.
What are the branding elements you want to work on?
Now that you know a good branding plan has two elements, you can choose whether to work on brand strategy, brand identity or both together. If you have long-term goals and are looking for a complete package, you should invest more in the branding exercise. It is wise to look at branding as an investment in your business which will give gradual returns.
How big is your business?
There might be a doubt in your mind that how the size of your business affects the cost of branding. But if you think about it, there will be no doubt. A multi-million conglomerate will have much bigger projects running and so they need branding on a big scale. In contrast, startups and new organizations are limited in terms of size which means they need branding for their size.
Where do you stand in a business’s lifespan?
If you are further in your business lifespan, your branding agency has a lot to take into account for creating a branding plan. You already know a lot of customers, you have huge data to work on and you have an idea what works for you in terms of brand strategy and brand identity.
By figuring out the answers to these questions, you can give your agency a better overview of your project's reach and in effect, they can give you a better estimation of the task. If you're looking to build a brand that can expand and maybe even sell in the future, you need to invest right upfront. Professional design and branding agencies will add value to your company, and you'll be well served for years to come if you choose to invest in the right branding at the outset. In the end, do not forget to take into account the additional costs of branding which might include signage, marketing materials, packaging, and stationery.
Estimating the cost of branding means taking into account several factors such as the size of the project, the size of your firm and the hours of branding that the agency will need to put in the project. Customers have and always will buy into the brands and the experience they offer. So investing in your brand is an investment that you make for your bright future. It is crucial you take your branding efforts seriously and look at the bigger picture. We know your brand is worth a lot to you and that is why we are a digital transformation agency in Sydney who helps you create a memorable brand experience for your customers. To summarize, branding can cost you somewhere between the low end of four figures and the mid-to-high five figures.
New technologies and services for your platform might be identified with the aid of digital strategy consulting services.
When it comes to consulting, a digital strategy can help you make the most of what's available–and profit from it.
The best digital marketing tool is getting better for year 2020, crafft your digital strategy with these tools.
