Put simply, how much does branding cost?
Every so often when a company goes through a rebrand, they unveil their new logo to the public and the public responds: what the hell were they thinking?
And then the gigantic sum of money paid to the agency who thought up the rebrand is revealed and the public responds: what the HELL were they thinking?
Despite this, we think the cost of branding is usually a worthy investment. And the cost of branding should be parallel to the risk you’re taking. “‘You price the client and not the job,” says Chris Do in a video on pricing design services. A big company with a famous logo that’s put on all their products has a lot more to lose if their rebrand misses the mark. Replacing and then reverting back to their old logo would cost a huge amount of money, so making sure they get it right the first time is crucial.
Still, some still find it hard to understand how a name or a logo could cost so much. But what tends to be the most expensive part of branding is the thinking that goes into it. When you’re paying an agency for a brand, you’re getting their expertise and years of experience. The strategy they come up with for the brand should guide your company for years to come – the name and logo are just manifestations of that. The value of design is often overlooked too - a lot of thinking and work goes into designing the visual aspects of the brand.
All this being said, sometimes people just want to know how much a brand or rebrand would cost. That’s why most agencies are good at breaking down their costs and explaining the scope of each component. But agencies first need to fully understand the brief so they can get an idea of the services they’ll need to provide. Asking ‘how much for a brand?’ is like asking how long a piece of string is. You’re going to have to be more specific.