Have you thought about rebranding your company, but you’re not sure how much to invest? Or maybe you’re starting a new business and need to set a budget…
Well, when it comes to figuring out how much branding costs, it’s kind of like planning a vacation. It depends on the experience you’re trying to have!
Asking how much branding costs is like asking how much a vacation costs. It depends!
So let’s use that analogy to break it down…
1. The Couch-Surfer
The couch-surfer is on a tight budget and just trying to make it work. When you’re traveling, this might look like:
- Flying Spirit (and piling on all your clothes at once so you don’t have to pay those baggage fees)
- Sleeping on friend’s couches, cheap hostels or pitching a tent
- Packing PB&Js
- Focused on free activities like hiking, wandering the city, or lounging on the beach
There is NOTHING wrong with this approach because having a trip on a budget is way better than no trip at all. And the same goes for branding…
The “Couch-Surfer” Approach to Branding
| Price Range | Zero to a few thousand dollars |
| Who It’s For | Anyone just getting started who doesn’t have a marketing budget |
| What It Looks Like | DIY, getting favors or freebies, using Fiverr or 99 Designs, some inexpensive freelance designers (often outsourced or with less experience) |
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2. Ballin’ on a Budget
Ballin’ on a Budget is what I like to call a high-low approach. You have some upgraded experiences, but you’re still budget conscious. When you’re traveling, this might look like:
- Flying coach
- Staying in affordable hotels
- Dining out at restaurants but not fine-dining
- Sprinkling in some paid activities like museums, boat rides or day trips
This approach is a great fit for tons of travelers… and for many entrepreneurs when you apply it to branding.
The “Ballin’ on a Budget” Approach to Branding
| Price Range | ~$3k-20k, depending on the scope (strategy, design, web, etc.) |
| Who It’s For | Small businesses and solopreneurs |
| What It Looks Like | Hiring experienced freelancers or small creative teams |
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3. Accessible Luxury
With the Accessible Luxury approach, you’re really starting to live it up! You are investing in your experience and it shows! When traveling, this might look like:
- Flying business or first class
- Staying in higher end hotels or boutique hotels
- Dining at nice restaurants without concern
- Having some once-in-a-lifetime experiences like swimming with sharks or hot air balloon rides
This approach is what many people aspire to! It feels high-end, but within reach. And that’s the case when it comes to branding as well…
The “Accessible Luxury” Approach to Branding
| Price Range | $30k-200k, depending on the scope of work |
| Who It’s For | Businesses with 7+ figures in revenue (some larger small businesses and mid-sized companies) |
| What It Looks Like | Working with boutique agencies |
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4. The Jet-Setter
For the jet-setter, money is no object! I’m talking Jay-Z & Beyonce level vacays. This might look like:
- Flying first class… or even private!
- 5-star hotels, private islands, yachts
- World-class restaurants or private chefs
- Experiences that I can only dream of!
While this approach may seem out of reach for some people (*raises hand*), it’s the level that the world’s biggest brands are playing on!
The “Jetsetter” Approach to Branding
| Price Range | Hundreds of thousands to even millions of dollars |
| Who It’s For | Global brands with big budgets! |
| What It Looks Like | Working with large, world-renowned agencies |
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Picking the Right Approach
It’s not just about what you can afford right now. It’s also about what kind of experience your target audience expects.
For example, if you’re building a luxury brand and want to cater to people who value fine craftsmanship or the highest quality goods, they are probably going to expect more than what a “Couch-Surfer” approach can give you.
The extra time, expertise, attention-to-detail and yes, investment will show in the quality of the work and help you connect to your audience!
Where Do I Fit?
I’m in the Ballin’ on a Budget or high-low category. While I have agency-level expertise, I choose to work with small businesses, so I’ve built a system that makes great branding accessible!
A start-to-finish branding system including brand strategy, brand identity design, web and marketing materials might range from $10-20k, depending on exactly what you need.