Let’s tackle the BIG question… “How much should a logo cost?”
Logos and branding is around us everywhere. We see hundreds of different logos just walking down the high street. Each logo we see has a psychological effect on how we choose to spend our money. The impact that a logo has on a consumer is enormous.
Take Nike® for example, their logo and brand is the difference between someone spending £5 on a t shirt, or £40 on a t shirt, even though they are made from the same material. The logo has value.
In order to price a logo design, it is important to understand what value that logo will bring to you and your company. As a logo designer, I need to know about a client’s business before I can provide a quote. A thorough discussion with a client takes place to make sure I create a quote suitable for that business.
What should a logo do for a business and how does it bring value?
A great logo can achieve incredible things. Here are just 5:
Create the impression of prosperity and success, resulting in trust and loyalty from the consumer
Increase in customers and income. People are more likely to do business with you if you have invested in design. A bad brand leads to customers, questioning whether you can deliver on your principles.
Builds credibility within your industry
Adding value to the business instantly and indefinitely. If you get your logo right first time, it will work hard for you for the entirety of your business, strengthening your identity and brand.
Convey the business’ personality and principles
A great logo should incorporate these things:
Scalability (Is it still legible and memorable when decreased in size?)
Should be as powerful and memorable when the colour is removed (black and white)
Timeless and memorable, resulting in instant brand recognition
Attention to detail to the icon and the word mark
Can be used anywhere, from print to digital and maintain its quality
Carefully selected colour palette and typography to convey the nature of the business
Some of the most expensive Branding Project Costs:
1. BP – $211,000,000 (Re-brand in 2008)
2. Accenture $100,000,000 (2000)
3. Posten Norge (Norwegian Post) – (Re-brand 2008)
4. Australia & New Zealand banking Group – $15,000,000 (Re-brand 2012)