Although there is debate about the topic, everyone can agree that branding services vary widely. An article by AllBusiness mentioned potential ranges from as little as $500 for a simple name and logo from a local company. However, $100,000 maybe closer to the rate for an international brand strategy from an international branding company. So where do you begin?
Look for a company that is experienced in branding small or start-up businesses, and that understands your timing and budget constraints. Reputable firms charge anywhere from $25,000 to $40,000 for a name and logo. You should be thrilled with the product and get terrific results from a firm in this range.
If you are just beginning and have no marketing budget, an option is to begin with the Entrepreneurial Method, discussed in our last post. Once you know your means, you can begin formulating goals that are realistic. At that point creating a budget to get some branding help will be something you can accomplish.
One of the most important things to understand is who you are, what you do (or your company does), who you serve, and what you’d like to be known for. If you already have a vision statement and mission statement you are on your way to building your brand.
Author:Robin Yerian. Robin studies Marketing and Business Administration at California State University, Northridge. She has received an honorable mention for her secondary research regarding the millennial generation in association with the national American Marketing Association case competition for eBay in which she provided consumer insights. Robin is the student assistant responsible for managing client relationships, communications, and social media for the Wells Fargo Center for Small Business & Entrepreneurship at CSUN.