Are you considering to start a business and not sure on how much to invest on logo design? Have you got a few quotes and the price range is confusing? I want to help you understand how much is good enough.
While I hope you’ll understand that the best budget is the one that allows you to hire a brand identity designer, my main goal is to help you save money by making the right choice. The first thing you must understand is that logo design is an investment, not an expense.
Investment, not Expense
I’ve been working with entrepreneurs from all over the world and still amazes me how so many completely disregard the importance of a well-designed logo. On the other hand, I know why they do it, simply because they don’t understand that a good logo leads to a well-crafted identity, which in turns attract and retain costumers.
Multinationals spend millions of dollars every year on branding efforts. Think for a moment, why do they do it? There must be a reason for it, right? Yes, of course there’s a reason, and just in case you realized yet, it’s the bottom-line.
The most important concept you must understand is that when you “spend” money on the design of your logo and identity visuals, or any other branding effort for that matter, you are actually increasing the value of your own business.
Coca-Cola is the only non-tech brand to crack the top five, ranking No. 3 with a brand value of $54.9 billion. [source]
But that’s not even the most important reason why you should invest in a well researched and crafted logo. The reason why you must do it is simply because it will attract more customers to your business, in other words, it will make it more profitable.
In today’s world, a highly competitive marketplace, all of your branding efforts help to differentiate your business from the rest, and a well-designed brand not only do that, but also allows you to charge more for your company products and services.
How Much Is Good Enough?
Well, pricer are so vary that Keeping in mind that you’ll actually be investing in your own business and increasing the value of one of its own assets, perhaps the question should be:
What’s a fair price range of professional logo design?
An original, unique, custom-made, high quality and professionally designed logo will hardly come out for less than $600 for a small business and $6,000 for a medium size company. You must keep in mind that design is a service, not a commodity, so the most experienced designers will charge a lot more than that.
But what if you understand the need for professional logo design but simply does not have the budget for professional logo design. What should you do?
First of all, are you sure you don’t have the budget for that?
Considering that the right image will cause an amazing positive impact on your business. Are you sure you can’t rearrange your budget to invest more in branding and less in something else? After all, logo design is a one-time investment. Do it right one time, at the beginning of your venture, and you are setting yourself for success.
If you can’t rearrange your budget at all, the next best thing is to learn more about brand identity design. So even if you hire a designer on a string budget, the least, you will not be totally blind in regards to your own branding efforts.
If you are convinced that your business need the help of an experienced team to create a professional looking brand, by all means consider hiring BBA, that’s my own brand agency. I’ll be more than glad to help make your brand a success story.
Obviously, you could look for professional logo designers on Google, but honestly, I would strongly recommend not relying on that option. It’s too hard for someone without a design background to separate the good from the bad over there.
Seriously, it’s not worth your time looking for designers on Google.
Here’s what you can do instead, point your browser to Dribbble,—this is a website where professional designers share their portfolio—,and then get in touch with a designer which work looks like with the type of work you want for yourself.
If you are not convinced on that, please, by all means, don’t be shy. You can send me a tweet at @rayvellest with your question, or write your question in the comments area below, and I’ll answer it as soon as I lay my eyes on it.