How to Budget for a Beautiful Rebrand
With any investment in your business, you want to see a huge return. Rebranding – the process of creating a new, fresh brand identity, website and blog – is no exception. That being said, rebranding can seem both expensive and risky (will your ideal clients like your new look?), making it all too easy to leave it on the back burner far longer than you should. In the meantime, your existing brand is growing stale and driving away bookings.
We have solid proof that our branding clients have experienced (1) an increase in inquiries; (2) more followers on social media; and (3) an easier time booking dreamy clients. One of our recent clients, Danae Grace, told us, “The response to my new brand has been incredible! I just booked three solid and amazing weddings for next year and no one flinched at the price point!”
Still, in spite of all the evidence that a great brand truly works, we understand that taking the leap to invest in your business is scary, especially when the investment can take a few months to generate a return. We’ve found that, with all the consultation calls we have with clients, some just aren’t ready for the financial commitment.
One thing I’ve always believed is that, in order to grow your business, you must be ready to invest in it and in yourself. The value of a rebrand comes not only in the increased bookings and revenue, but also in the confidence you experience when you’re being properly represented and showcased by your brand. Having a brand identity that you’re proud to stand behind allows you to own your value. When someone asks how much you charge, you’re confident in that price because your amazing work is presented front and center, and your brand and website project professionalism and success. Danae Grace told us after her rebranding, “My new website makes me more confident and excited for what I do.”
So, what happens when you really want the rebrand, but don’t think you have the money? When a client reaches out to us and says they just don’t have the funds yet, I don’t pressure them. I encourage them to take a look at their numbers. I’m not an accountant or a financial adviser, but this technique has worked for many of our clients, as well as for ourselves:
Set aside 10-15% of your income each month; or, at the end of your fiscal year, look at your gross revenue and take out 10-15% to either budget or invest back into your business, whether that is branding, web design, or coaching. You can expect to see a significantly greater return on that 10-15% investment when you’re spending it on things like branding and web design. (Just remember, those items don’t work themselves – you have to nurture your brand, work for it, work with it, and build your audience!)
Consider this: if you made $60,000 last year, would you be willing to invest $6000-9000 to make double or triple that amount back? All while looking more professional and successful, with a gorgeous brand worthy of envy?
We’re proud to say that each client to whom we’ve recommended this budgeting approach has wound up booking us 3 months, 6 months, or a year after our first call, even when they didn’t initially think they could afford us. And we think their logos, responsive websites, blogs and stationery speak for the results!
If you’re ready to discuss your rebranding, and experience the jump in business and enhanced confidence that follow, please reach out. We’d love to chat with you!
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