How much should a small business spend on rebranding?

Asking “How much does it cost to rebrand?” is like asking how long a piece of string is.

Providing a figure without knowing a business’s precise requirements can be difficult because many different variables are involved.

However, if you’re a small business considering a rebrand, you’ll need to know the cost of rebranding a company to help you decide if it’s within your budget.

If you’re trying to figure out “How much does it cost to rebrand a company?” this article identifies the factors that affect the average price of a rebrand to help answer.

WHAT FACTORS AFFECT THE COST OF REBRANDING?

The cost of rebranding a company completely depends on the size and scope of the project.

The rebranding process doesn’t come in one size to fit all. Some businesses require a minor refresh, some require a partial one, while others opt for a complete rebrand.

As well as the level of rebranding required, it’s also important to consider the size of the business and how many years it’s been around. It makes sense that more work is involved in rebranding large, established businesses than smaller, newer ones.

The rebranding process is vast and complex, and requires a strategic and tailored approach.

Just some of the different factors that a branding agency will consider when calculating the cost of rebranding your business include the following:

BUSINESS AGE

Businesses that have been around for years and have ingrained branding usually require extensive rebranding work to change public perception

SIZE OF BUSINESS

Larger businesses usually have more sprawling branding encompassing many customer touchpoints. This requires a higher volume of work to rebrand

NUMBER OF EMPLOYEES

The more employees a business has, the greater the level of internal communication and training efforts required to roll out and ensure consistent uptake of the new branding

SIZE OF CUSTOMER BASE

The larger the customer base, the more extensive the communication efforts required to introduce the new brand and maintain customer loyalty

GEOGRAPHIC REACH

Companies that operate internationally will face additional costs to rebrand in multiple countries

THE PROBLEM BEING SOLVED

The level of work required to rebrand varies depending on the type and extent of the problem that the rebrand is in response to

REBRANDING GOALS

The specific goals of your rebranding project will significantly influence the cost. For example, if your goal is to expand into a new market, this will likely cost more than if you simply want to modernise your brand’s visual identity

PROFESSIONAL SERVICES REQUIRED

The complexity of your rebranding and the number of professional services required to complete it will heavily influence the cost. Small businesses that only require some graphic design work will pay less than those needing extensive market research, strategy development, copywriting, web design, and other services. Each service required will add to the total cost of the rebrand

REBRANDING TIMELINE

If you have strict deadlines for your rebranding project, this could also increase the price because the agency will need to allocate significant resources to your project

BRANDING AGENCY

Partnering with a large, well-known branding agency can help mitigate the risk of your rebranding project, but it is also likely to increase the price. It’s important to consider where the agency is located, too; London-based operations tend to be more expensive than those elsewhere in the country.

HOW MUCH DOES A REBRAND COST  IN THE UK?

As we’ve seen, calculating the cost of a rebrand can be complicated.

It is often quoted that a rebrand usually costs, on average, the equivalent of between 10 and 20 per cent of a business’s marketing budget.

Of course, this is quite a generalised approach to calculating the cost of a rebrand, but it may give you a ballpark figure of what to expect if you need a full rebrand.

Another way to estimate the cost of rebranding involves making a detailed breakdown of the professional services your project entails. The process of rebranding is multi-faceted and often involves several key steps.

First, a brand strategist or consultant may be required to redefine your brand’s core elements, including its mission, vision, values, narrative, and messaging. The next stage involves creating a new brand identity that aligns with your new brand mission and values. This step might involve overhauling your visual branding elements, potentially requiring a new logo, colour scheme, and typography.

Once you have your new brand identity, you’ll need to update all your company’s assets to reflect its new look and feel. This step may require many different professional services, including website designers, copywriters, graphic designers, social media managers, exterior and interior signage experts, and packaging designers.

By gathering a list of estimates for all the professional services you expect your rebrand to require, you can get a rough idea of the overall cost.

However, it’s important to look at a rebrand as a long-term investment that could improve the company’s overall effectiveness and success. Whilst the upfront costs of rebranding can be substantial, they have the potential to yield significant returns on investment.

PARTNER WITH IBRAND SIGNS FOR OFFICE SIGNAGE FOR YOUR REBRAND 

Here at iBrand Signs, based in Warrington, we can help your business to communicate its new brand identity effectively using impactful office signage.

To learn more about our services, call our team today on 01925 823 032 or email sales@ibrandsigns.co.uk.