Brand audit cost: The surprising truth about how much it costs to analyse and revive your brand

This guide covers the cost of running a brand identity audit. We'll go over how much big agencies charge, cheaper options and a strategic brand audit with us - a luxury branding agency. You'll learn our unique approach , including brand analysis, competitor research, strategy development, and creative moodboards for brand evolution. We do all of this without the overheads of big firms.

Unlike other high-end agencies charging £20,000-£30,000 for audits with little differentiation, or cheap £500 copy-paste jobs, we provide quality audits at a fraction of the cost.

In fact, many brands overlook audits, leaving them indistinguishable from competitors. We'll show how audits uncover opportunities to stand out, drive growth, and increase market share. With our strategic playbook, you can execute branding in-house or with another agency cost-effectively.

First, let's jump into the value of a brand audit.

We have worked with world-renowned brands like Cartier, Porsche, Westfield, and Formula1. Get in touch today to run a comprehensive brand audit to position your comapny for success. Schedule a brand discovery call here.

A brand audit delivers critical insights by evaluating a brand’s market positioning, communication effectiveness, and internal coherence. This strategic assessment helps businesses refine their brand identity, enhance customer engagement, and strengthen competitive advantage. Through detailed analysis, companies can identify and leverage opportunities to optimise your brand's performance and increase profitability.

The cost of a brand audit varies widely depending on the size of your business and the depth of the analysis required.

High-end

High-end brand audits can range from £20,000 to £30,000, often reflecting the overheads of large agencies. These comprehensive audits typically include extensive market research, competitive analysis, and detailed strategic recommendations. However, according to opinions from industry insiders, many of these high-cost services may not necessarily offer differentiation or additional value proportional to their price. Our agency, ikon, can offer similar high-quality brand strategy audits at a fraction of the cost by focusing on core services without the unnecessary overhead, ensuring that you pay only for what truly benefits your brand. We'll go over more on that later.

Low-end

At the lower end of the spectrum, brand audits can be found for as little as £500. However, these are often basic, "copy and paste" assessments that lack the depth and customisation needed to provide genuine insights. These audits are often not "worth the paper they're printed on," as they typically do not deliver the strategic guidance necessary to drive meaningful brand improvement--and most of the times make you look like competition. For businesses seeking valuable insights, investing in a more thorough and thoughtfully conducted audit is advisable to give you actionable results.

Most brand identities are not differentiated, leaving consumers with a choice of businesses that don't stand out, forcing them to decide based solely on price. Common issues include:

• Inability to attract high-value customers

• Having to compete on price, not value

• Losing business to the competition

Our luxury agency can provide you the valuable insights and comprehensive analysis you need to stand out and not look like your competition. With thorough market research, our comprehensive audit can provide you with a brand strategy to truly differentiate your brand.

We have luxury brand expert to help with the brand auditing, aid in tracking progress and measure the impact of implemented changes. They can help set benchmarks and key performance indicators (KPIs), providing businesses with a clear understanding of how the branding initiatives are impacting financial performance. Measuring these KPIs is critical for justifying the investment in the audit and consulting services. Here's what our process looks like:

• In-depth analysis of your current brand identity

• Analysis of your closest competitors to identify differentiators

• A detailed playback book outlining ways for you to stand out

• Moodboard ideas exploring potential brand directions

With us, the timeline for completion is 1 week and the investment price is £1,800. We'll dive deep into our process that makes for a successful brand audit.

Problem identification

Our brand audit begins by identifying key issues that stops a company’s brand identity from standing out in the market. This step involves understanding why businesses may be competing solely on price instead of value, and why they might be losing potential high-value customers to competitors.

Analysis of current brand identity

This stage involves rigorously examining your current branding from all angles. We assess visual identity or brand elements like logos and typography, alongside brand messaging and strategic alignment. The goal is to pinpoint exactly what’s working and what isn’t, setting the stage for impactful strategic decisions.

Competitive analysis

Here, we closely analyse your key competitors to see where you stand in comparison. We look at their branding efforts, market presence, industry trends, and customer engagement strategies to identify gaps and opportunities. This insight allows us to pinpoint unique selling points that your competitors haven't capitalised on yet.

Strategic playbook

The playbook is like an audit report which outlines concrete, actionable steps for your brand to stand out. It includes specific marketing actions, potential rebranding initiatives, and messaging tweaks tailored to resonate more deeply with your target audience. Consider this playbook your roadmap to a more distinctive and competitive brand. This playbook will guide you with actionable insights to improve your business's identity.

Moodboard creation

In this phase, we compile a series of moodboards that visually represent the potential future direction of your brand. These boards bring together images, color schemes, and typography that embody the proposed look and feel. It’s a visual strategy session that helps everyone visualise and agree on the brand’s next steps before they are implemented.

Each step is crafted to provide a clear, direct pathway to not only understanding your current brand position but also to seising opportunities to elevate your market standing.

Choosing our luxury agency for your brand audit offers a suite of advantages, especially when compared to the typical market options. Here's why partnering with us is beneficial to creating a strong brand:

Cost-effective solutions

While high-end audits from large agencies can cost between £20,000 and £30,000, largely due to their significant overheads, we provide the same level of expertise and comprehensive service at a fraction of the cost. Our remote structure gives and lean business model eliminates unnecessary expenses, allowing us to focus on delivering value directly to our clients without compromising on quality.

Avoid generic solutions

Many low-end audits from marketing agencies, priced around £500, often result in generic, "copy and paste" solutions that fail to differentiate your brand from competitors. These audits rarely provide the bespoke insights needed to make a real impact. Our agency's approach is tailored specifically to your brand’s needs, making sure that the strategies developed are unique to your business, we provide valuable insights and not just copy market competitors.

Investment in future growth

A unique aspect of working with us is that the cost of the initial audit can be credited towards future work. This not only makes the audit more cost-effective but also encourages a continued partnership to implement the recommended strategies effectively. This approach ensures that the audit is not just a one-time check but a foundational investment in your brand’s ongoing development.

Distinctive brand positioning

By avoiding cookie-cutter solutions and delving deeper into what makes your brand unique, we help you stand out in a crowded market. The brand audit doesn’t just analyse how you compare to your competition; it pinpoints how you can lead and redefine your industry.

Proven track record with global brands

Our agency has a solid history of working with well-known global brands that have achieved more distinctive brand identities through our audits. Our collaborations include successful projects with major players such as Westfield, RIOLA, Porsche, Cartier, Jet, ROWA, Rejuvi, and Mezura, showing our ability to scale and customise our approach to meet the needs of diverse industry leaders. These partnerships reflect our commitment to excellence and our capability to drive significant brand evolution across different markets.

Ready to transform your brand's identity and leverage your market position for growth? Our agency is here to guide you through the process. Our brand audit results in a detailed plan to start implementing changes that not only distinguish your brand but also enhance its ability to command higher prices and drive business growth.

Ready to audit your brand? Contact us today