Unfortunately, there is no easy answer for this question. There are many businesses with very limited marketing budgets that have since become highly successful brands, while on the other hand, there are thousands of examples where companies spent millions or billions of dollars to establish an identity, only to fall short of the mark.
Successful brands first establish a powerful identity and then build momentum by doing all of the things a business needs to do to. Continue marketing success once a strong foundation has been established. Any business, with any brand strategy still has a responsibility to the identity and to their audience to continue to provide the same exceptional service, or amazing products, and to promote cultivation of that same emotional connection that was established when the brand identity was first confirmed.
Brand identity projects involving strategy typically range from $40,000 to $120,000, the total scope of the work that is required being the most significant factor affecting the invoice. The time required for proper [experienced] research and the creation of any deliverables required can significantly increase the price. The landscape of competition for your business or project also contributes to the expense of building and maintaining a brand. While a business in a very specialized, highly-focused niche can be done for as little as a few thousand dollars.
One thing can be stated for certain; building a successful brand is not an overnight solution or quick-return investment. It takes a degree of expertise, discipline, tenacity, and time. The bottom line is that the branding process must be viewed as an investment — it’s the perception of your company.
Compared to the cost of implementation, developing a marketable brand identity is a bargain.