How Much Does Rebranding Cost? Of Course, It All Depends.

So, you think it might be time to rebrand? There are numerous reasons why you should consider rebranding. Maybe you think your brand is outdated. Maybe a competitor is eating some of your market share. Maybe you’ve just gotten the corner office and know your brand isn’t driving growth. Whatever the motivation, a rebranding project should never be undertaken without knowing what exactly you want to accomplish.

But many organizations don’t fully understand what to expect when rebranding. Often, we hear clients associate “rebranding” with simply creating a new logo. That is usually one component in the process, and if you are a small organization with a localized target audience, maybe all you need is a new logo. But that’s not what we mean when we are talking about rebranding.

Choosing the Right Partner

If you are considering a rebrand, it’s a huge challenge to accomplish using only in-house staff. Timelines will get stretched; details will get overlooked; and your other priorities will suffer. But if you are considering an agency with which to partner on a rebranding effort, remember, there is no one-size-fits-all solution. There are large agencies and small agencies, and each is suited to meet different needs. For instance, if you’re a large multinational company in need of a comprehensive rebrand, you will benefit by working with a large branding agency with a global staff. But be prepared to pay for their services. A rebrand like this can easily surpass 7 figures.

Brand is the sum total of how someone perceives a particular person or organization. Branding is all about shaping that perception.

ASHLEY FRIEDLEIN

A branding agency of this size doesn’t really make sense for many companies considering a rebrand. Working with a smaller, boutique branding agency, like Authentige, has many advantages. These agencies are usually more flexible in their offerings, and let you develop a plan of action with the top-level staff. And, you’ll get more prioritized attention - usually at a lower cost. However, choosing an agency based on cost alone could leave you further from your overall objectives. The most important thing to remember is that rebranding isn’t just glorified design, or a change in the look of your logo and website. A brand is the foundation of your organization. Don’t skimp.

(Re)Branding Isn't a Cost, It's an Investment

Of course, when it comes to branding or rebranding, all clients want to know, “How much will it cost?” Some will even ask, “What is the ROI?” The answer to both questions, as you may have guessed is, “It depends.” It’s important to remember that if you look at a rebranding project as a cost, rather than an investment, any amount may seem too high, and any return too low. Actual costs and timelines can vary greatly depending on your specific situation. A small business with a regional customer base requires a much different rebranding solution than a Fortune 500 company with global operations.

Before starting a rebranding effort, it’s important to ask a few questions:

• How long has the brand been around?

• What problem are you trying to solve?

• What are your business objectives for a new brand?

• When do you need to achieve these goals?

• What is your budget for this project?

• What is your timeline for implementation?

• Is your customer base regional, domestic or international?

Once we’ve answered these questions, we can better formulate a custom plan. We’ve put together some expected rebranding costs and timelines for the “typical” types of Authentige Branding clients – small to mid-sized organizations with a regional to national footprint. Remember, the rebranding approach that’s right for your company is not necessarily determined by your size or annual revenue, but rather the specific needs of your brand. These models are meant only to serve as a guideline.

Model 1: Start-Up Brand

Budget Range: $8000 - $20,000 | Typical Timeline 1-3 months

New organization

For start-up organizations, budget is often a major concern, but to shortchange the process will usually prove costly in the long-run. Typical start-up organizations should consider the following components in their initial branding efforts:

• Brand Discovery

• Brand Strategy/Positioning

• Naming/Tagline

• New Visual Brand Identity

• Website

Model 2: Brand Recharge

Budget Range: $15,000 – $30,000+ | Typical Timeline: 2 – 4 months

Addition to product line; messaging doesn’t connect strongly with defined audience; visual identity no longer reflects organizational focus; etc.

The most basic branding level, the brand recharge, is best for businesses with relatively simple objectives. A brand refresh typically includes the following components:

• Brand Discovery

• Brand Audit w/ Secondary Research

• Brand Personas

• Updated Visual Brand Identity

• Reworked Website

• Copywriting

• Photography

• Updated Marketing Collateral

• Brand Rollout

The cost of the Visual Brand Identity is going to be similar for most every brand refresh. The variables most likely to determine the cost and duration of this type of rebrand are the depth of your brand audit, the complexity of your website, and the breadth of your marketing collateral. Photography and copywriting are key components to consider. Original photography/videography will give your brand authenticity that stock images can’t. Your budget and uniqueness of your brand will determine whether there are opportunities for cost savings.

Model 3: Brand Remodel

Budget Range: $25,000 – $60,000+ | Typical Timeline: 4 – 6 months

New market expansion; shift in strategic direction; unifying sub-brands; age milestone; etc.

The next level of rebranding is the brand remodel. Like a home, the brand remodel is ideal for companies who are dealing with the organizational challenges that typically accompany business growth and/or age, and may include the following elements:

• Brand Discovery

• Customer and Competitive Research

• Comprehensive Brand Audit

• Brand Personas

• Brand Strategy/Positioning

• New Tagline

• New Visual Brand Identity

• New Website

• Messaging/Copywriting

• Original Photography/Videography

• New Marketing Collateral

• Brand Rollout

The major difference between a brand refresh and a brand revamp is that a revamp should always include a comprehensive brand audit, detailed market research, and positioning strategy. This research will help drive your messaging to differentiate your organization and articulate your USP.

Model 4: Major Brand Rebuild

Budget Range: $100,000 – $500,000+ | Typical Timeline: 8 – 10 months+

The final rebranding level, the Major Brand Rebuild, is for companies with multi-faceted challenges. For an established organization with a global presence, rebranding can be complicated by its business model, product lines, or sub-brands. Since organizational models, needs, and objectives mat vary widely, it is difficult to outline all the variables that go into a project of this scope. A brand rebuild could/should include all the rebranding elements, but the execution of each may be vastly different, depending on the organization. This type of project is generally best-suited for large global branding agencies.

As you can see, when it comes to rebranding, no two company’s needs are identical. An effective rebranding initiative must be custom tailored to your brand’s unique challenges, objectives, and opportunities. If you have any other questions about rebranding, give us a call or connect with us on social media.

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