How Much Does a Brand Audit Cost? [4 Pricing Factors Revealed]
Do you want to know the cost of a brand audit? Our comprehensive guide on brand audit fees tells you everything. In under 2 minutes.
July 31, 2023
Introduction
So, you came here to find the answer to a question all our clients ask:
How much do brand audits cost?
In this blog post, I’ll discuss what an audit of your company's brand includes. Plus, we'll look at the various elements that can influence fees. I’ll also provide a couple of examples and explain how they’re priced.
What Is a Brand Audit?
A brand audit helps organizations uncover strengths and weaknesses, improve target audience quality, become more competitive, and reduce marketing expenses.
4 Factors Used to Set Fees for Brand Audits
Brand audit fees are largely determined by the number of markets or sectors that require research during the audit.
Generally, there are four areas that influence the price of a project.
Audit Preparation
The amount of preparation required is the first factor that affects the brand audit fee.
Ideally, the first step is to make sure your business has all the information needed for the audit and can make it readily available. If you need the auditor to help you gather data and prepare, then the fee will be much higher. You can ask the auditor in advance if they have included any preparation in the fee and, if so, how much.
We recommend clients do as much as they can in advance before bringing us into the process. This will keep fees lower and shorten the timeline for completing the audit.
If you aren’t sure what information you’ll need, ask the auditor to provide a list.
Areas Covered
The cost of an audit can vary based on the number of areas covered. For example, a basic SWOT assessment is less than an extensive review of operations. When you ask for a brand assessment that includes a review of sales data, social media presence, and digital marketing strategies, potential costs go up.
The brand audit process can cover almost any area of business operations, such as:
- Brand strategy
- External branding (i.e., visual identity and brand essence)
- Internal branding (i.e., brand values and the brand's promise)
- Customer service
- Product development
- Marketing communications
We suggest discussing your goals with the auditor before deciding what areas to include.
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Research and Data Requirements
For results to be reliable, you must use accurate information and data. Clients should be sure that all data used by the auditor is up to date. This also reduces delays or unnecessary interruptions that can occur when inaccurate data has to be replaced.
Many times, it’s necessary to use various sources, such as focus groups, customer surveys, or metrics like Google Analytics. Conducting market research and is one of the most time-consuming parts of a thorough brand audit.
Companies can reduce fees if they already have access to data, such as advertising and marketing analytics, or other relevant information. But fees will go up if the auditor has to research the market or gather other relevant information. This part of the process can account for as much as 50 percent or more of the total expense.
Post-Audit Brand Strategy Consulting
Post-audit brand strategy consulting can be invaluable. A brand strategist can work with clients to review the final report and help implement recommendations. This means businesses can take advantage of their insight and knowledge throughout the process—increasing the return on investment.
Brand strategy consulting also helps business owners or executives who might have become overwhelmed with the complexity of the audit. With a consultant’s help, it will be easier for companies to interpret the final brand audit report, set goals, and carry out action items.
Auditors rarely include brand strategy consulting fees in the original scope. We recommend asking the firm whether they have included consulting fees and, if so, how much. In most cases, consulting fees are an optional and additional expense.
Fees for Audits Performed by Branding and Marketing Agencies
If you’re thinking of hiring a branding or marketing agency to perform an audit, there are a few things to consider.
Branding and marketing agencies often use audits to sell their services. An agency will usually offer complimentary or low-priced brand assessments. They do this hoping to land full-scale projects such as web design, brand identity design, or ad campaign management.
Although these audits offer some value, agencies will often deliver results that require additional work involving their specialized services. For instance, a free SEO audit might suggest the need to correct certain issues identified in the final report. Subsequently, the agency may include an offer for SEO services with the report.
To get an unbiased and accurate view, we recommend hiring a neutral third-party auditor.
Other Costs Associated with a Brand Audit
Sometimes, there are other costs associated with an audit.
For example, your company must devote time and resources to the project. So, some staff members may need to spend time on the audit instead of their usual workflow. Some employees may find the experience stressful, even if their roles are unaffected by it. These potential issues can temporarily disrupt business operations.
It can also take considerable effort for companies to roll out recommendations. Lack of clarity or direction can lead to confusion among departments, which can adversely affect everyone in the organization.
Overall, companies should be ready for the challenges that come with implementing new strategies afterward.
How Much Does a Brand Audit Cost?
At the lowest level, small businesses should expect fees to start at $1,900. An average small business brand audit runs in the $3,500-$5,000 range.
An audit starts at around $7,500 for larger businesses with intricate situations. Complex audits may range from $12,000 to $15,000 or more. Again, the project scope dictates the fee. Keep in mind that auditors can accommodate companies with unique circumstances.
How Long Does It Take to Complete a Brand Audit?
Smaller business audits may only take three to four weeks. A corporate level audit could require eight weeks or more.
Conducting regular brand audits (i.e., annually) will help your company remain current and stay competitive. Organizations that perform a brand audit regularly will have less work to do each time. This routine reduces fees over time and keeps the business on track for success.
Brand Audit Types and Examples
How much you must invest in a brand audit also depends on the type you get. The type of audit will be determined by your business goals and key questions you want to answer. To illustrate, I’ll use the two types of audits we perform at The Brand Auditors.
A Level One Brand Audit is a basic overview of a brand’s strengths, weaknesses, and competitive positioning in its target market. The final report provides general recommendations and insights into the brand’s marketing efforts and individual media channels. This audit works well for companies that only need a basic assessment. A new brand with a single product or a few products and no performance benchmarks in place is an example.
A Level Two Brand Audit is a detailed analysis and covers all aspects of a business’s growth strategy and marketing materials. But the final report includes an action plan that extend beyond the brand’s current growth strategy. It assesses whether any new strategies and tactics should replace existing ones, considering competitive trends, emerging technologies, and customer behavior.
A Level Two Audit is good for companies that want to optimize marketing campaigns and strengthen their current market position.
What Makes The Brand Auditors' Process Unique?
Are you tired of not seeing results from your current branding strategy? Are you investing thousands of dollars with little to no ROI to show for it?
It’s time for a change.
At The Brand Auditors, we offer a unique experience. We don’t just offer branding or marketing services—we become your brand advocates.
Our team consists of experienced professionals who have the knowledge and resources to give you meaningful insights on your brand and digital efforts. We start by analyzing your brand and data to determine what’s working and what’s not. Then, we help you implement changes that will make a positive difference on the bottom line.
But don’t just stop there. We also offer ongoing support to make sure you continue to see positive results. We’re available to answer your questions and help you stay up-to-date and maintain a competitive advantage.
The Brand Auditors isn’t just another agency. We’re your partner in success. If you would like to know more, click on the button below and schedule a free call with an auditor.
Are you ready to find out how a brand audit can transform your business?
Our brand audit process is a comprehensive analysis designed to help companies increase ROI and reduce marketing expenses.
- Increase ROI on lead generation and sales conversions.
- Reduce marketing expenses.
- Strengthen brand positioning to become more competitive.
We guarantee satisfaction or get your money back! Schedule a discovery call with a brand auditor to find out more.
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