How much are you willing to pay for a logo? – tbpmx featuring Veronica Johnson
Expensive doesn’t necessarily mean good.
When it comes to deciding the cost and charges for a logo, there are quite a few pricing options that you can consider. You can start from low to mid and go up to as high as you can afford. However, in the beginning, the process can be confusing for business owners. If you think about it, logo design is tricky and deciding upon a budget for it may be challenging. Sometimes, people will tell you that in order to have a well-designed and impressive logo, you do need to empty your pockets. Well, that is not always the case. Expensive doesn’t necessarily mean good.
You can get a brand identity design that is relevant to your business and sends the right message in a medium to low range pricing as well. Do you actually know how much some of the most iconic symbols cost their companies? The Nike Swoosh was designed and purchased by the co-founder of the company for only $35. The original bird of Twitter’s logo was only $15. Logo designs have also cost businesses a huge amount of money, like Pepsi and BBC both paying over a $1 million for their current ones. The cost of a logo design can vary depending on different factors but you can make it work within your budget.
Determining the Price
You might be charged for a brand identity design according to the designer or agency you approach
, the design complexity and the type of business you have. These are some of the first things that you have to consider.
Hiring a Designer or Agency
As mentioned in the beginning, you can choose options that are available in a range of low to high prices. If you look at freelance designers, your logo can cost you anywhere between a $100 to a $1000. Sometimes, even this might be too high for small businesses and startups. Those who want to start small can also design their logo graphics by themselves with the help of sophisticated software and tools that are easily available online. There are companies offering such designing services as well such as logo design contests in which you get the benefit of many designers working on your project. With basic graphic design skills and a little bit of research, you can have a logo in under a $200. Otherwise, there are professional, mid-range choices which you can go for.
Other than freelancers, you can find design agencies that will help you come up with an instantly appealing and memorable brand identity design. They charge more than a $1000 as their logo design process is extensive and focused on branding strategies as well as guidelines. You will get a high value for your money with well-known agencies with a recognizable portfolio.
The bigger and more established businesses do have the option of high end graphic design companies that may charge more than up $100,000 or more. It certainly is a lot of money but given the services offered, it might be understandable. These include customized templates, tailor-made branding options for print and digital media and an almost flawless logo design that can be tweaked anytime you want.
At times, businesses opt for word-mark logos to minimize costs due to less resources and budget. This so happens because more colors and elements in the logo mean the price goes higher for printing and branding. The more illustrative the design is, thehigher the charge.
However, keep in mind that this is not always the case. Some logo designs may appear simple and minimalistic but be very costly. If you take a look at Accenture’s most recent rebranding efforts, you will be surprised to know that their logo cost $100 million. Similarly, the uncomplicated icon of Apple also came at a price of $50,000 a long time back.
The amount of money that alogo may cost you could depend on your business or company profile as well. Think of it as value based pricing of design. If your company has the potential to make a lot of profits from the brand identity design in the long run, then a higher price might be charged. Take this for an example. A corporation that will benefit highly from branding on merchandise such as clothes or bags might have to negotiate the cost with the designing according to that. On the other hand, non-profits and most home based businesses might be charged a lower price as their returns might be less.
In the end, the priceof the logo really depends on how far you are willing to stretch your budget. There are also issues such as copyright of the logo, delivery and the changes made to it along the way to keep in mind. Other than the factors mentioned here, these things can also make a difference to the price.
About Veronica Johnson
Veronica likes reading, writing and exploring through her travel. With her freelance guest writing, she hopes to achieve both her passion and career in online content marketing. She writes on topics like business, advertising and digital marketing.