How you name your business matters a lot. It helps establish your brand identity. Your company’s name can prove to be a crucial component in attracting the right audience, creating a memorable appeal, and establishing an emotional connection with your audience. Picking an ideal brand name, however, can be a challenging task. This is the main reason why people rely on brand naming agencies such as Unboxfame to help them out. These agencies have experts working with them to help you out in your naming journey. In this blog, we’ll delve deep into the pricing aspect of such agencies, based on the size and complexity of the work involved.
Cost of Naming Services for Businesses of Different Scale
1. Cost of Naming Services for Small Businesses
For small businesses, naming services can be relatively affordable, with fees ranging from a few thousand dollars to around $10,000. Small businesses typically have less complex branding needs and may only require a basic name and logo. Naming companies that work with small businesses may offer packages that include other branding services, such as logo design and brand strategy.
Small businesses can expect to work with a smaller team of professionals, with fewer revisions and less research. The cost may include trademark research and legal services, but these are generally less extensive for smaller businesses. Therefore, the cost of naming services for small businesses is usually lower than for mid-sized and large corporations.
2. Cost of Naming Services for Mid-Sized Businesses
For mid-sized businesses, naming services can cost anywhere from $10,000 to $50,000. Mid-sized businesses often require more complex branding solutions and may need to create names that work across multiple products or services. Naming companies that work with mid-sized businesses may offer a broader range of services, including trademark research, legal services, and market research.
Mid-sized businesses may require a larger team of professionals, more extensive research, and multiple rounds of revisions. Naming companies may also provide more in-depth market research and focus group testing to ensure the name resonates with the target audience. Therefore, the cost of brand naming services for mid-sized businesses is usually higher than for small businesses.
3. Cost of Naming Services for Large Corporations
For large corporations, naming services can be the most expensive, with fees ranging from $50,000 to hundreds of thousands of dollars. Large corporations often have complex branding needs and require a name that can be used across multiple products, services, and markets. Naming companies that work with large corporations often have extensive experience working with global brands and may offer a range of services, including market research, focus groups, and consumer testing.
Also Visit: 7 Reasons Why Market Research Is Important to a Business
Large corporations may require a large team of professionals, extensive research, and multiple rounds of revisions. Naming companies may provide legal services to secure the name and protect it from infringement. Additionally, large corporations may require ongoing brand management services to ensure the name remains relevant and effective. Therefore, the cost of naming services for large corporations is usually the highest.
Factors That Affect the Cost of Naming Services
The naming cost may vary, based on different factors such as the number and type of deliverables required, rounds of revisions, ongoing costs, etc. If a company requires domain research, tagline, and logo, in addition to name, for example, the cost will be higher. Considering your requirements and budget, you must always explore several options before finalizing one.
Tim Marrine is a content writer with six years of experience. He has been working with Unboxfame for the past 3 years and has helped the company grow its online presence significantly.