When thinking about any successful and popular brands, the first element that often comes to mind is the brand’s logo design. Most of the recognizable and well-known brands worldwide spend millions on logo design, paying attention to the simplicity and assuring that the logo provides a highly effective venue of communication with customers. This is yet another reason why you should consider a high-quality logo a good investment to enable your brand’s ability to draw in your target audience. Too often, the process of designing a strong logo gets set aside in hopes of saving money. This decision can prove detrimental to a brand’s growth and success. By looking into the reasons behind a good logo, you can easily understand why your brand has a deep need to have one.
Brands Spend Millions on Logo Design
To further comprehend the importance of investing in a unique and artful logo design, take a look at some well-known brands that most individuals recognize simply because of their logo and the cost of those logos. The results might surprise you.
Here are some of the more expensive logo design examples:
The Pepsi logo of 2008, cost $1,000,000
The BBC logo, designed in 1997, cost $1,800,00
The BP’s redesigned logo of 2008 cost $211,000,000
These are some of the most expensive examples of brands that spend millions on logo design compiled from an article on Stocklogos.com. Chances are that you do not have millions to spend on designing your logo. So, here are some examples of other brands that you may recognize and the price tag of their logos.
Nike spent only $35 for its logo in 1971
Twitter paid only $15 for its original design
Google did not pay a single cent for its original logo in 1998
Neither did Coca Cola
So don’t start sweating the prices just yet. While it is important for you to invest in a well-put-together logo, you do not have to spend millions on logo design.
Logo Design Cost
Since you more than likely do not have a million dollars on hand to spend on designing your logo, take a look at the more typical prices of a logo. Maybe you want to design the logo yourself. You should not use typical software like Microsoft for the process as it communicates a lack of stability. So, you will want to use professional equipment. Good software for logo design costs around $700, not including equipment such as the computer, paper, ink, and printer.
If you prefer to use a professional designer, then consider the outline of the process. According to “Why Professional Logo Design Costs More than 5 Dollars,” the design process typically entails the following:
The design brief – a questionnaire with the client about desired details and brand specifics
Research on the specific industry itself
Reference to successful logo designs within the industry
Conceptualization of the actual design
Reflection – leaving the design alone after the initial conceptualization so that ideas can grow and mature
Decision on which designs they will present to the client
Designing a logo professionally can cost anywhere from $5-$200, but you should probably invest closer to the $200 range to ensure high quality of all elements necessary for a cohesive logo. Whether you invest in your own software, or select a professional designer, imagine yourself in a customer’s position and consider these questions: What would help you remember your logo? What logo elements would draw you to the brand? What should the logo communicate to the audience? Let the brainstorming begin.