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You have a logo, a website and some business cards, so you have a brand, right? Well, sort of.
More than just a logo and a website, a brand is the entire set of expectations, memories, stories and relationships that, taken together, account for a consumer’s decision to choose one product or service over another. If the consumer doesn't pay a premium, select your product or spread the word about you, then your brand has little value for that consumer.
In this context, a brand's value then is the sum total of how much extra people will pay for your product, or how often they choose your product over others, plus the expectations, memories, stories and relationships your customer values over all the alternatives. And that is worth investing in.
You want a strong brand, and a brand that has value, so your customers will remember and choose you over the competition, so your customers are willing to pay a premium for the quality you provide, and so they choose to spread the word and grow your brand value on your behalf.