Business Corner: How to budget for a Logo
Your logo is the first glance. It’s that feeling you get when you see something for the first time and your brain begins to evaluate what you have witnessed. We have all watched the movies where they embed the themes “It’s on the inside that counts” or the “ugly duckling will become a swan”. It is not much different with many businesses. Inside the doors of the 30+ million small businesses in America are hardworking, customer-oriented employees who need to be given their glass slipper. That journey starts with getting the customer in the door. How does your business look on the outside? Swan or Ugly Duckling that needs to be given the chance? This article will walk you through logo pricing and what to expect from different sources.
Branding is the makeup of your business. You will find that every agency has the “keys” to branding. While the approaches may differ, we can all agree that identity is a key component. Your logo is one of the most important and recognizable elements of branding and so much is built on how the client perceives your business. Whenever we have someone approach our agency about a logo design there are 2 questions. First: How much? Secondly, How Long? Let’s take a quick look at the pricing options.
Sometimes, all a business can afford is a low-priced logo. Budget pricing (0-$700) is certainly an available option for single operator businesses. Those who need more than a word font but do not need the experience and branding development that some other might can find a designer in this range. We would recommend every business explore a professionally designed option however that is not realistic. A beginning freelancer, a student or a family member might be able to offer you work at these prices.
Pay attention to the warnings. There is reason behind the pricing. A professional design agency or an experienced freelancer, generally speaking, puts more time, research and industry knowledge into a logo project than those found in the budget pricing tier. Coincidently, one of the most famous brands in the world was designed in this price range by Carolyn Davidson. The Nike swoosh was designed for $35 in 1971. She was later compensated for the success of the branding. You can find successful logos at these prices but they are few and far between.
Mid-Range Priced Logo
This is where most employee driven businesses will operate. The mid-Range pricing ($700-$10,000) meets a variety of logo design needs. Every logo project is unique, and every logo pricing in this range will also be varied. There is such a large range in the price because each business has a different set of needs. What may look like a very simple logo might have day’s worth of work behind it. That simple logo might have involved 2-3 designers pitching ideas. The multiple orientations and color versions will make placement easier for some promotional materials. At the upper end of this range, the logo package should have a brand standards manual. The brand standards manual will educate the user on how to use the logo across different mediums.
A logo should give the viewer a clue what the business does or at minimum, what industry the business is in. In this tier, the logo should go through a full process including research, sketches, rough drafts, revisions and deliverables. There might be multiple color versions and orientations in the final package. Above all else, it is important that your business has that good first impression. A professionally designed logo is certainly a step in that direction.
High-End Priced Logo
This level is less populated. The brands or organizations that are paying out amount of money for a logo are often nation-wide, worldwide or a government agency. A logo with this price tag might span months, even years to develop the best possible spearhead element for branding.
While logo projects like this might seem attractive, it does take the right agency and the right team to pull off the task. If not prepared, other projects might take a second seat. More often than not, companies that have a budget this size for a logo project will have their own design and marketing department.
It is important to choose the right designer or right agency for your logo design needs. Interview your potential designer and make sure that the service they provide matches your expectations. Look into the competing businesses around you and decide if you want to look comparable. In other words, which of you looks like the business to visit? Do your research, examine your budget, and decide if a $500 investment into your business logo is as valuable as a $2000 professionally designed logo. There is a difference, and we believe we can show you why.
Edgeview Creative provides logo design in NC for small to mid-size businesses. Our logo pricing will generally fall in the mid-range pricing tier. Please feel free to reach out and contact us with any questions about logo design in NC.