18 May Should you Spend a lot on your Logo
Every Business nowadays needs a distinctive logo. A unique image that differentiates their products or services from their competitors in the industry they operate in.
To understand the importance of a professional logo design, we first need to understand what a logo actually is and what it is used for.
A logo design is often the first connection your potential customers have with your brand. First impression can be crucial so getting it right is too. Professional logo design will bring instant recognition to your brand, company, charity or other venture. Logo designs aren’t just for companies. Sometimes, you may need to invest in your brand rather than a standalone logo design.
But how much do you spend on your logo ?
The answer to that is not necessarily as straightforward as 1 may think. It really all boils down to 1 very vital question .. What stage is your company at? Are you a Start-Up or have you been in business for a little while?
You are just starting up. You have cost literally coming out of everywhere and you really need to be careful with your costs. Spending an enormous amount of money on a logo can seem quite ludicrous to some. Fortunately there are a number of effective options for having a relatively large number of logos produced for a fractional cost. They can start from as little as $5 at fiverr.com to a few hundred with 99 Designs.
Think carefully of what you offer and what you want your brand to convey. Whether you work with a freelancer from Fiver or choose from a variety of designs on 99Designs, remember this is an early stage. You are still uncertain of your success and your funds need to be invested in more important areas of growth. Get someone to design your exact “want” and then request a few different colour and shape versions to play with. Always ask your friends and colleagues too. A different set of eyes always offer an alternatively view to yours.
So you’ve now been trading for a bit of time — maybe a couple of years or so — and you think you have your brand and voice solidly built and defined. You’re also generating some revenue and are – like nearly all startups – reinvesting that revenue back into the business. Examples of such investment maybe developing infrastructure, software systems, sales pipeline or products. However, you may feel that you have reached a point when you have outgrown your existing (if as above, low cost) logo and need a Logo that represents your expertise better.
Your needs have now changed in comparison to above. Nonetheless, this does not mean you have to completely scrap your old logo. Many companies build on their old logo or simply separate their brands. However, at this point you will definitely need to have a clear idea of what you require out of your logo. Colours, design and text are important.
At this stage, you will be seeking a Marketing or Branding company such as CFM Group, that has the expertise necessary to take the brand you’ve built and visually recreate it into something both highly creative and demonstrative of your qualities. Once you get to this point, you can expect to spend anything between £6k – £10k !
It is quite clear there are 2 directions to choose for your Logo (Low or High cost). It is hence imperative that you are aware of what you will be getting for your money. Whether you opt to launch a design contest, hire a freelancer or opt for an agency. Make sure that the following checklist is a part of your agreement:
- Full Legal Copyrights
- In many Sizes and Multiple Formats
Here is the average cost of a Logo in the UK as seen below
Here are just some of the logos we have created over the last few years
Do you need any help with your Logo for your Brand or Company ? At CFM Group, we are more than happy to work alongside your monetary constraints or arrange monthly payments of your logo so contact me here !