Survey of 267 professionals (branders) involved in branding: including in-house, independent and founders
Pricing Strategy
80% of branders price their projects based on the time and effort required for the project.
37% of branders use hourly rates to set their prices, while 69% use fixed prices
Only 35.2% of respondents set value-based prices for their work
The majority (50%) of branding projects cost between $500 and $5,000
Customer Acquisition
The main way to acquire customers is through referrals and word of mouth (86.1%). 21% of branders offer free consultations.
Networking and relationship building (71.5%) is the second most effective customer acquisition strategy after referrals
AI Integration
70.4% of branding professionals believe AI will make their jobs easier and are open to integrating AI tools such as ChatGPT, Adobe Software, and Midjourney into their branding processes.
Some branding experts expressed concern that tools like Canva (38.6%) and AI could challenge traditional design services, and that continuous innovation is needed to stand out.
The future of the brand
Branders believe that authenticity (74.5%) and personalization (58.8%) will drive the future of branding. Sustainability, emotional branding, and ethical branding are also important considerations.
Purpose-driven branding (57.3%) and emotional branding (49.4%) highlight the growing importance of creating meaningful and emotionally relatable brand experiences.
Tools
AI Tools: ChatGPT, Jasper, Luminar, MidJourney, Synthesia, Looka Logo Maker, Business Name Generator, Wix ADI, Shutterstock Generator, Originality AI
Nearly 90% of survey participants use Adobe Creative Suite
I also use design tools like Figma, Procreate, Sketch, and Corel quite a bit.
Although not generally a preferred platform for branding professionals, Canva (38.6%) came in second, perhaps because customers prefer easy-to-edit templates and assets. This seems to indicate a shift toward more accessible and user-friendly design platforms.
The most popular stock websites are Unsplash, Pexels, Freepik, Adobe Stock, Shutterstock
The most used business management tools are PayPal (47.6%), a payment tool, and Quickbooks (14.6%), an accounting tool.
Similar tools like Wise, Xero, Monday.com, Notion, and Dubsado also scored high on surveys
Learning and Development
90% of branders ask for feedback from their customers
Additionally, a significant number (67.8%) responded that they rely on self-reflection and analysis and feedback from friends or colleagues.
Many people also learn from senior colleagues and online communities.
Recommended learning resources: courses, blogs, email newsletters, books, mentors/influencers, podcasts, etc. (see original)
Key Tasks
33% said they struggle with increasing exposure, highlighting the importance of visibility and awareness in the industry
Finding new clients and securing new projects was cited as one of the biggest obstacles for branding professionals, with nearly 50% citing the same issue
Respondents also highlighted the need for more education and awareness among businesses about the broader value of branding beyond just visuals, saying there is a gap in understanding.
Pricing structure is another important concern. Branders have been struggling to determine the optimal price considering factors such as market competition and customer perception of value.
As competition in the industry intensifies and AI and other automation tools become more influential, it becomes another major concern. Many respondents noted how the recession had impacted growth due to budget cuts at their clients.
Many respondents also said they had difficulty measuring the success of their projects, emphasizing the need for a robust measurement strategy.
Key Takeaways
1.
Improve pricing strategy and diversify revenue
Diversify your pricing strategy beyond time and effort
While about 80% of branding professionals price their projects based on time and effort, they should also consider adjusting their rates based on the value they provide through value-based pricing (used by only 35.2% of respondents).
2.
We will proactively acquire customers and cultivate valuable networks.
Recommendations and word-of-mouth are the primary ways to acquire customers (86.1% of respondents), but they will invest in networking and relationship building (71.5%) to expand their customer base
Don't rely solely on recommendations
3.
Human-centered approach and AI integration
About 70.4% of respondents said they could streamline their work processes by adopting AI tools such as ChatGPT, Adobe's AI tool, and Midjourney.
However, customers value strategy, emotion, and personal interaction, so branding experiences must retain a human touch.
4.
Embracing the authenticity of future branding
To stay relevant in an evolving environment, it is recommended that your strategy focus on authenticity (74.5%), personalization (58.8%), and purpose-driven branding (57.3%).
5.
Navigate industry challenges and adapt with agility
Solve industry challenges such as new customer acquisition, branding value, pricing structure, increasing competition, and the impact of AI To effectively address these challenges, we must be adaptable and invest in ongoing training.
6.
Optimizing Project Evaluation Metrics
Integrating customer satisfaction scores (39.3%) and brand awareness metrics to measure project success
Consider improving project evaluation by leveraging less-used metrics such as email marketing (7.9%).
7.
Strategically expand your revenue streams
Seek additional revenue streams such as consulting (18.8%) and digital product sales (16.4%) to enhance financial stability and business growth.
Consider offering online courses to monetize your knowledge (only about 7% do this)
8.
Tool selection and adaptation optimization
While Adobe Creative Suite remains a popular tool (used by 90% of respondents), there is a need to explore new design tools and platforms that align with industry trends and customer preferences.
Look for user-friendly platforms like Canva (38.6%), which is gaining popularity for its accessibility.
9.
Strengthening legal knowledge and awareness
Invest time in increasing your understanding of the legal aspects of branding, including copyright and intellectual property rights. About 40% of branding professionals feel insecure about their legal knowledge
10.
Prioritize continuous learning and skill growth
Seek feedback from customers (90%) and prioritize continuous learning by leveraging a variety of resources including training courses, publications, and industry influencers.
I will actively improve my skills
11.
Project diversity and pricing adjustments
We will diversify the types of projects according to our expertise and customer needs.
For large projects, it is advisable to adjust the price accordingly.
People who price projects above $20,000 often undertake comprehensive, complex, or extensive projects (50%) that last four to six months or more.
12.
Strategic differentiation for market influence
Differentiate by improving customer experience (90%), specializing in niches, innovating processes, developing a unique design style, and aligning differentiation strategies to your strengths.
I'm really impressed by the interest in AI tools.
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