As seen on Anthill – A guide to branding your business
How much should I spend on my brand, and when? A guide to branding your business
by Stella Gianotto, 7 August 2018
It is true that some businesses spend only a few thousand dollars on branding, whilst others spend tens of thousands or even hundreds of thousands of dollars. With such a large range, how do you know how much you should be spending?
Before we address how much, let’s start with what might be even more important: when should you invest in your branding? The answer is the earlier the better, for two reasons. Firstly, if you leave your branding to the very last minute, there is often no time and very little money (if any) to create a brand that will communicate why you started up your business, its values and personality. Conveying these three basics of your business through effective branding is extremely important because it builds up the foundation for awareness and recognition around your brand, which is expensive and difficult to change later down the track.
Secondly, if you are a business that needs a fit out such as restaurant or shop, it’s critical that a branding specialist is brought it at the design phase to give them the perfect opportunity to find spaces within your environment to place branding and find unique and potentially cost-effective ways to amplify your voice such as a mural, a bespoke sample station or even unique waiting area. Remember branding includes paint colours, menus, lighting and even bathroom signage and implementing these at the time of the fit-out will save you thousands than if you had waited until after the fit out was complete.