Ask yourself, how much should I pay for a logo and does it matter?
So you need a logo and you are asking yourself “why do logos cost so much!?”. Logos value are completely based on how your own perception of value. If you only value a logo, mark or brand icon to be worth no more than $200 well then that’s how much it’s worth to you. If a global brand spends $1,000,000 on a brand identity its because the see the value in being recognizable above their competitors. They have equated the cost and value of each sale over the cost of the logo.
With the availability of designers through online services you can pick up a logo for just around $100 but why is that logo so cheap versus a designer or firm who charges well over $50,000.00 to $100,000.00 for a logo or brand identity at this price point?
Let’s break it down because there is a reason you’re paying such a wide range.
Budget Logo $100-$200
The only reason you would want to go the budget route is that you probably because you’re simply on a budget. A reason to accompany this direction is that you’re a start up. You could also not appreciate the value of a skilled designer or what the value of a logo says about you as a business an entrepreneur.
Designers in this category are typically more novice designers who rely on flashy graphics or styles. Many of these logos are sitting in a file somewhere waiting to just be picked one day by a client like a vending machine.
These are great for startups with little launch capital. After 2 years and you’ve reached some success then it’s time to upgrade your image. Sure that Pinto got you back and forth but now it’s time to get something more representative of your growth.
You’re probably going to spend personal time directing the designer on what to do versus being guided on what you need. Most entrepreneurs at this level are emotionally invested into their logo.
Mid Range Logo Design $300 – $5000, sometimes even $10,000
The range for this is actually quite large because there are many factors to consider. You’re going to find a more experienced designer or small agency that will put in more work such as research, custom lettering, and color psychology. At this level, the designer understands logo balance and how to tell a story through your logo.
Many of the approaches to this style of design consider where your business is now with the goal to make sure your logo stands the test of time. Much like a car, your logo and website should get a facelift every 3-5 years.
At this level, your designer will guide you on what you need. Business owners remember they hired the expert to create something that is representative of the goals of the business and does not invest emotionally into their logo design.
*Do not invest into your logo emotionally. It can come from a place of emotion but your decisions must remain logical to the growth of the brand.
Top End $30,000 – $1,000,000+
If you are at this level, you’re breaking an annual revenue of no less than $1 to $2 million or you’re a global brand.
The latest rendition of DropBox spent an estimated $1,000,000 to refresh their brand. These organizations understand the value of a brand and it’s identity. Their brands must be clear, concise and recognizable across the entire globe.
To recap, if you’re a serious entrepreneur the best thing you can do for your brand is to explore the values of your identity by not selling yourself short.
The budget logo is cost effective but so is filling up the kiddy pool. If you’re not sure where to start, spend the $50 to $100 to hire a consultant to get you going in the right direction.
Your logo is an investment in your brand.