I wouldn't worry about being like everyone else, but if you don't have a ritual, colors, flower, song, those might be places to start. But I think if most of our NPC sororities were to do it again, it might all be simplified, so don't feel like you have to make it all a big hairy deal.
Regarding pins, that is a remarkable expense, and it's one part of our history that continues to amaze me. When a spare $100 was unheard of, these women were going to their local jeweler to have things designed. You might check into having a jewelry designer see what he can work up. Generally they don't charge for the design work; just the manufacture. And nobody said your pin needed to be jeweled, solid gold, etc. A simple pin (check out the Pi Phi arrow, the Kappa key, the Alpha Xi Delta quill) will probably be easier to work with than the lettered overlays, which I would imagine cost more in the early stages of production.
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"Traveling - It leaves you speechless, then turns you into a storyteller. ~ Ibn Battuta
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