Should You Splurge On Logo Design For Your Start Up?
There is no doubt that your business absolutely needs a logo. It is your brand image; how people identify your business and your products. The big question is how much you should spend on logo design at the start-up stage of your business.
How much should you spend on a logo?
The cost of a logo varies just about as much as that of building a house does. You can pay as little as five bucks or as much as half a million dollars just for a logo from a top-of-the-line marketing agency. With such an enormous range of prices, it becomes quite tricky to determine where your logo pursuits fall when you are starting your business.
The answer quite simple and it is rooted in your current situation. Basically, how much money you have in your budget to pay for a logo and how developed your brand is. There are two main scenarios that can apply to your situation when starting off your business.
Cash strapped in the beginning
Starting a business is very costly, every penny counts. From paying for licenses and permits, acquiring a business premises and decorating to buying equipment and developing a brand, there are many costs to think of. At this point in your business, the logo may not seem like such a crucial element in the grand scheme of things. The thought of spending thousands of dollars on a logo is not realistic.
Fortunately, there are some cost-effective options that you can consider. There are many creative and budding designers looking to showcase their work and create a name for themselves. You can get an amazing logo suggestions designed for a fraction of the actual cost through design websites online. These sites allow a large number of designers to submit ideas for your business.
During the start up of business, you do not know your brand and brand voice well enough since you have not had time to develop it and a cheap logo would work for a short while. The logo design you choose may not always be your ultimate design.
Scaling up your business
If you have been in business for a bit of time, it is time to scale up. Your brand has been built solidly and is well defined, you are probably generating quite a bit of revenue too. You can re-invest this revenue into the business to further develop it and this would be your chance to step up your game on the logo design.
At this point, there is a huge difference between your previous and present needs and this is why you need to be keener with your logo design. The logo design should encapsulate the brand that you have built. You do not need to ditch your current logo completely; you can reinvent it to better represent your brand without confusing your customers too much.
You should look for a branding company that has the experience and expertise required to take your brand to the next level by recreating your logo to something that is highly creative and representative of your brand. You can pay upwards of up to ten thousand dollars for logo design.
The best logos have a few things in common. Here are some of the qualities you should expect in a great logo:
Simple aesthetic is easier for consumers to digest than logos with multiple moving pieces. The easier it is to process something the more the consumers will like it. Previously, the Apple logo was rainbow colored; today one of the leading brands has a simple solid black or simple grayscale logo.
- Brand Consistency
Your logo communicates a lot of things to the consumer about your brand so it should fit your company’s overall message. One of the reasons why Apple changed its logo from the free spirited upstart business to a sleek futuristic logo is to show that the business had progressed to one of the most valuable corporations in the world.
Your logo should be easy for customers to remember so you can have more repeat customers.
When designing a logo, do not simply trust your gut or the opinion of the guys in the boardroom. Market testing is a great way to determine how well the public responds to the brand representation. The feedback you get from consumers will help you determine whether the logo is communicating the right message for your company.
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