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The potential costs associated with rebranding a company's visual identity can vary greatly depending on the scale and scope of the rebranding effort. These costs can include design and creative work, market research, internal and external communication, new signage, digital updates, and potentially even legal costs. For example, British Petroleum spent $200 million on their new logo, and Pepsi spent $1.2 billion on their three-year brand redesign efforts. However, these are extreme examples and most small to medium-sized businesses can expect to spend significantly less.
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What are the tactics that brands can utilize to effectively win over customers? Explore all facets of brand strategies with this presentation template...
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You can tell the importance of brand visuals by the sheer amount of money companies throw at these visual rebranding efforts: British Petroleum's new green sunflower logo – ironic, we know – $200 million. Pepsi's three-year brand redesign efforts: $1.2 billion. And here's a fun fact, the iconic Citibank logo as we know it today was in five minutes. The cost? $1.5 million in 1998, which is about $3 million today.
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