Best Practice: Branding success depends on successful brand development and implementation. Both are equally important, allocate 50% for each.
Today’s Article: Budget Guidelines for Brand Implementation
“Built it and they will come” is not a good brand implementation strategy. A good brand needs good implementation. As a general budget rule, allocate 50% of a branding project budget for implementation.
If you have less than $5,000 for brand implementation, “self branding” with some outside assistance is your best return on investment (ROI). That budget can get you launch a brand and market it i.e. website, social media and collateral material like a business card and a rack card.
Remember that traditional/push marketing (print, broadcast, or direct mail) is more expensive and requires repeat marketing to be effective.
If you have a smaller budget, focus on connection/online content marketing (word of mouth, networking, website, social media, blogs, guides, ebooks, white papers, RSS feed, or video) with a business card and a rack card where appropriate.
If you have a budget greater than $5,000, branding agencies can help you with brand analysis and brand strategies to create and implement a new brand or re-brand. This budget can range from $5,000 to over $100,000 depending on whether your business is a local, regional, national or an international business.
If you have a budget less than $5,000, you have five options below:
Do-It-Yourself Approach is for entrepreneurs that have under $500 and the time to implement their brand themselves.
‘A la carte Approach is for entrepreneurs that have under $5000 and the time to implement their brand with help.
Ask an Expert Approach is for entrepreneurs that just need some objective advice to point them in the right direction or need some specific brand development and/or implementation advice. $150/hour
Brand Analysis Approach is for entrepreneurs that have an idea for a name, tagline, and/or logo and want objective feedback or that have an existing brand and want a review of the brand. $99-$950
Brand Help Desk
The Brand Help Desk is a free resource provided by Brand Door to provide entrepreneurs with an answer to a brand development or implementation question. Use the form to the upper right to ask your question.
Each year large company brands such as Apple, Goggle or Coca Cola are recognized. Brand Door will recognize the Best Small Business Brands of 2015. For more information in nominating a small to medium-sized company, go to Nominate Best Brand.