At OKD we continually improve our capabilities and offering, and we are proud to announce our acquisition of MJM Media. MJM Media is recognized as a leader in the Canadian audio and video production industry, and have been an establishment in the Hamilton community for more than 30 years. Attention...
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A branding agency is a company that specializes in developing, maintaining, measuring and improving brands through the strategic use of creativity, design and marketing.
They build and launch brands from scratch to help generate brand awareness and visibility among their audiences.
Branding agencies may also assist brands in rebranding to refresh their overall image, help them stand out from the crowd and improve reputation.
Branding companies will help your organization by supporting your brand, understanding your goals and communicating them to the right audience.
They will create a strong visual identity and positioning that speaks to your brand purpose, values and promises to help attract your target group.
Branding agencies combine business savvy, behavioral psychology and communication strategy to help clients define their brand values and positioning, as well as maintain, monitor and evolve brands with the changing market conditions.
They include a team of brand strategists, designers, programmers, analysts, content writers and digital marketers to develop and evolve memorable brands.
Their core offerings include:
Essentially, a brand is your business’s personality that helps consumers identify you, your products or services, while branding is the process you take to create that identity.
Brands should have consistent aesthetic styles, copywriting tone, imagery and color palettes across all platforms. A brand is typically highlighted by one iconic visual moniker – aka the logo.
Businesses can undergo branding, which creates a brand for the first time, or rebranding, which revises or improves an existing brand to make it more effective.
A brand consultancy is a different approach to branding.
Instead of communicating a brand’s benefits, values and “personality” to potential consumers, brand consultancy experts recommend taking an extended amount of time studying the target audience’s mind.
After you have a strong grasp of your demographic’s mindset – such as the “why” behind their consumer decisions – you can strategically craft your brand and messaging to be planted in the minds of your potential consumers.
Basically, brand consultancy adds a layer of psychology in the research phase and creates more branded content solely for the user.
Those who adhere to the brand consultancy ideology believe that it highlights their brand’s positive features while weakening the competition. This can also be helpful in crafting large-scale brand strategy and brand marketing campaigns.
Be careful not to confuse brand consultancy with a brand consultant. A brand consultant is simply a branding expert that can advise your business on various branding initiatives.
The cost of branding agencies largely depends on how much work needs to be done within the project.
For instance, if you need a company name, a new logo and have many platforms that this design needs to be distributed on, a top branding company could cost you anywhere from $23,000 to $250,000 or more.
However, if you just need a new logo, your costs could drop to $3,500 to $150,000.
In general, companies can expect to spend this much for the following services:
Some creative branding agencies charge instead by the hour.
Most Eastern European-based companies charge around $35-$75 per hour, while branding agencies in the US cost about $125-$200 per hour.
Here are the top benefits of working with a brand strategy agency:
Strategic use of color can increase your brand recognition by as much as 80%. (Reboot Online)
Colors alone can have a significant impact on your audience because they play a role in the subconscious judgments your customers make about your brand within seconds.
However, colors are just one small piece of the branding puzzle. There is so much more to consider when it comes to increasing your brand recognition and improving its credibility.
Creative branding agencies know exactly which elements to associate with your brand to improve brand recall and perception – two important factors that will influence your customer’s purchasing decisions when choosing between you and your competitors.
It costs businesses five times more to attract a new client than to retain an existing one. (Invesp)
While a brand strategy agency is often focused on reaching new markets, its primary goals are nurturing existing clients, gaining their loyalty and developing long-term relationships.
These specialized companies understand your existing customer base well and they know what keeps them coming back. They serve as a connector between you and your customer and they help increase client retention significantly.
43% of shoppers spend more money on brands they are loyal to. (Fundera)
An important factor to consider here is brand equity. Shoppers very often make a purchasing decision based on their perception of a brand. And, the more they are familiar with a brand, the more they trust it.
So, branding does not only impact your brand’s reputation, but it also affects your sales.
A creative branding agency will help you improve brand profitability by being consistent and keeping your clients engaged with your business and your brand.
Here are a few tips to help you choose the right partner to help elevate your business:
The following questions will help you learn about a branding company’s expertise, previous experience and potential ROI:
Branding companies can help improve your brand and ensure that your brand persona is reflected properly on all platforms.
Their job is to help generate brand recognition, improve customer loyalty and boost sales.
These specialized agencies typically price their projects at hourly rates and may charge between $125-$200 per hour.
To choose the right creative branding agency for your business needs:
Best of luck!