The Pros and Cons of Branding on a Budget
One of the most important things to focus on when you are starting a new business is branding.
What is branding?
Branding is the process of creating a strong, positive perception of a company, its products or services in the customer’s mind by combining such elements as logo, design, mission statement, and a consistent theme throughout all marketing communications (credit: Oberlo).
The right branding will attract your dream clients that are willing to pay the rates you want, help you gain authority in your industry, and give your business a new sense of legitimacy. However, should you invest in professional branding right away? It’s smart to consider it but wouldn’t make sense for every new business owner. Especially when your ideal client and brand values might completely change in 3 months.
It’s completely possible to brand your business on a budget. The DIY route! Let’s talk about the pros and cons of branding on a budget to see if it’s the right choice for you.
Pros
The most obvious pro, you’re going to save hundreds to thousands of dollars.This is the main reason why most business owners choose the DIY route when they are first starting out.
You get to learn new skills and tools to brand your own business. This is an opportunity to learn more about creating a brand from scratch and you can take what you learn and apply them to your services in the future. A great tool to use is Canva for DIY branding and content creation.
The flexibility to experiment with the vision of your brand to help you understand what you like and don’t like. You can make all the changes and mistakes that you want to make at no cost to you.
Creative freedom to create the brand strategy and vision that you want for your business. You know your business best and can create the brand elements that you want for your brand.
Cons
It’s time consuming. You’ll have to learn how to create the different brand elements and how to use different tools or software.
More room for error. Since you’re not an expert with professional branding experience or knowledge there is going to be a lot more room for trial and error. Your branding may end up not being as effective as you would like it to be.
It can be overwhelming. There is a lot that goes into branding and it could feel overwhelming if you don’t have prior design experience, marketing knowledge, software skills, etc.
You might not attract the right clients. A professional brand designer has the expertise and skill set to know how to create a brand that will resonate with your dream clients. By doing your branding yourself, there is room for mistakes and the possibility of attracting the wrong clients.
Here are some questions you should ask yourself before deciding if branding on a budget is the right route for you:
Is it worth my time to learn how to brand for my own business in comparison to the money I can pay for a professional brand designer? (Remember that time is money too!)
Do I have confidence in myself to learn how to create my own brand and produce quality brand elements?
Would I enjoy the journey and process of learning how to brand on a budget?
At the end of the day, you want a strong brand that clearly communicates your values to your dream clients. Your brand strategy and vision should set you apart from your competitors and help you be perceived as the expert in the industry.
