When it comes to branding, there are a lot of myths and misconceptions that are floating around out there and as a result many coaches and entrepreneurs are missing out on one of the most important tools for growing their business.
- Branding is only for large companies (because it’s really expensive)
- You should wait until you’re established to brand yourself (because it’s really expensive)
- You will save money if you do your branding and build your website yourself (because it’s really expensive)
Did I mention – branding is perceived as really expensive?
This common belief keeps many business owners from paying attention to their brand and as a result they are missing huge opportunities to market more effectively, sell more of their programs, and keep more of their customers.
And the truth is that yes, branding can be expensive. It isn’t always though, and depending on where you are in your business, you may not need to invest an arm and a leg to get what you need. There is a broad spectrum that you could pay for your brand depending on how you go about it, and like anything – you usually get what you pay for.
That’s not meant to be a judgy “if you try to do things on the cheap then you aren’t taking your business seriously enough” type statement, it means that depending on where you are in your business, you may want to invest a little more (or a little less) depending on the return on investment you can expect. On the other hand, at certain stages of your business if you’re not investing in your brand you could be losing money.
So, the question is: How much SHOULD you be investing in your branding?
The answer is – it depends.
If Your Business Is New Or Hasn’t Quite Gotten Off The Ground Yet
If you’re just starting out, or don’t have many clients then chances are you are keeping your expenses lean until you begin to make money. For most new service providers, having a nice logo or even a nice website isn’t going to make or break your success so it doesn’t make sense to invest $10,000 in your online presence. Plus, as you get your feet wet, chances are you’ll want to change your website anyway and throwing money out the window is not really your cup of tea.
On the other hand, knowing how to communicate your value, where and how you should be marketing yourself, and what it is you’re actually selling, WILL determine whether or not your business is going to get off the ground. These are all pieces of your brand foundation and is where you should be focusing your attention.
And again, there is a broad spectrum of what you might pay to get help crafting your brand foundation and finding the right person to help you is key. At The Land of Brand® you would invest anywhere from $997- $2500 to create your brand foundation depending on where you are in your business and how deep it makes sense to go.
Of everything within your brand – this is NOT where you want to skimp. Knowing who you are in the marketplace and how to attract your ideal clients and communicate your value is going to have a direct impact on whether or not you can sell your services. Just sayin’.
If Your Business Is Getting Traction And Finding Success
If you’re getting clients, but your business is still “playing the field” serving different types of people and/or offering different types of services. I call this stage your “primordial brand” where you have a viable business and may be growing quickly – but what you want to be known for is still in flux. At this stage it is worth investing in some branding and a nice website because you will get a return on investment, but you don’t necessarily need to go “over the top”.
At The Land of Brand® you would expect to pay around $7500 for a professionally designed website with logo. That package also includes getting help writing your content (which makes your programs easier to sell) and crafting your brand foundation and strategy so you can begin solidifying your direction toward your signature brand. With this type of package we base the design largely on your personality and key message – but leave you enough wiggle room so that you can make updates without having to invest in an overhaul if your direction changes.
Why is it worth the investment at this stage? Well you already know you can sell your services, and you know who you need to be reaching, so having an online presence that speaks to those people directly and echoes (or amplifies) the value you provide will make your programs that much easier to market and sell. This means you’ll make your money back quickly, and it will keep paying for itself as your business grows.
If Your Business Is Well Established And You’ve Outgrown Your Brand
If you’re well established and now you really want to become known as the go to person in your market then it’s time for you to create your Signature Brand. At this point you may already have your brand foundation in place and just need to update the visuals OR, you may feel like your business is a little scattered and need help bringing everything together under one cohesive brand. Either way, when you create your signature brand, that’s when things “get real”.
Your signature brand will become what you’re known for and will follow you throughout the rest of your business life. That doesn’t mean that when you have a signature brand you can never do anything new or different – what it means is that if you choose to shift directions in the future, your signature brand can be leveraged as added credibility and help your new venture take off even more quickly. Awesome, right?
For these reasons, it’s worth investing in getting your branding done right and have something you can use across mediums and that will grow with you as your business grows.
A The Land of Brand® branding packages at this level start at $10,000 and include things like a completely custom website (of course) and also a Brand Style Guide that shows you how to use your logo to create a cohesive brand experience throughout every touchpoint your customers have with you – and that doesn’t mean just pasting a logo on your landing pages. The guide shows you how to use fonts, colors, and imagery so that when people see your marketing they immediately recognize it as coming from YOU. And those are just the visual aspects of the brand, we also help you craft a branded user experience through your content, sales systems, and by laying out your core brand foundation so you can keep your message consistent as you grow your business.
With this level of brand sophistication paired with your already successful business, you can begin to see how you can quickly make back your investment and open doors to a whole new level of your success.
As you can see, how much you should invest in your branding is largely dependent on where you are in your business. There are multiple levels of “branding”, and knowing when to invest and what pieces you need to help your business grow will help you make smart choices.
Is it time for YOU to invest in your brand? Or, are you not sure where you are in this spectrum, but know it’s time to get help? If now is your time then let’s get on the phone and see if we can put a package together that will fits where you are in your business and that you can leverage quickly into more sales and recognition in your market. Click here to set up a free consultation and we’ll set up a time to chat.