Take the guesswork out of developing a plan for your physical touchpoints during a rebrand.
Because there could be so many moving pieces and hundreds of physical branded items throughout a company, it can be hard to estimate how much the physical rebranding will cost.
To help you understand the costs associated with a physical rebrand, we’ve outlined the five steps we take to develop a brand conversion budget for our clients:
- Develop a list of assets. To even begin estimating how much it will cost to rebrand your physical assets, we recommend you create a database of every branded asset your company owns. Include details such as asset type (vehicle, sign, sign type, etc.), color, size, message, etc. This way you’ll know exactly what needs to change.
- Review project scope. After you document all the physical assets that will need to be rebranded, find out if any of them are retired, expired, or plan to be decommissioned. There’s no need to spend extra dollars rebranding assets that are out of commission. Also, make sure you include both the removal and installation costs in your budget creation.
- Prioritize visibility. This goes for both your assets and your locations. Do you have facilities that have heavy foot traffic? Are there facilities in rural areas? Determine which locations are most important when it comes to brand visibility. By doing this, you can start prioritizing which assets need to receive the most impactful brand treatments and which assets aren’t needed due to poor placement.
- Plan for soft costs. While signage, vehicle wraps, and new marketing materials may be the greatest expense to make note of during a physical rebrand, don’t forget to plan for the unknowns. Will you need additional manufacturing? Will bad weather push back the conversion timeline? Have your facilities been rebranded before and the façade needs to be repaired? Cushion your budget in case any surprises pop up.
- Standardize. One of the biggest cost savings you can provide for yourself is to standardize rather than customize the manufacturing of a sign. The size, materials, illumination, and construction of a sign can all influence the price. By standardizing the specifications, you can lower the cost and optimize the ordering process for brand compliant signage for any future conversion needs.
If you find that you need help crafting your physical brand conversion budget, reach out to us at firstname.lastname@example.org.
Author: Caylin Asehan