When it comes to setting up a business, ‘How much does it cost to design a logo’is one of the most asked questions. This is an important question to research because it will define the future of your business. Here is a list of questions to consider for logo design and the link between branding:
Do I need a logo?
If you are creating a brand, then yes. It’s essential to have a logo to build your brand identity and future. Having a professional logo can help you to stand out from competitors. The first thing that customers will associate with you will be your logo. So it’s important that you make an effort to create a distinctive brand.
What is the difference between branding and having a logo?
A logo is a design that represents your company. It tends to be a recognizable symbol with colours, shapes or writing. Logos give a visual representation and are a key part of branding.
Branding involves how your customers experience your company. This may be done by communicating to the target market. From a marketing point of view, branding aims to differentiate a product or service from its competitors. It’s about having a quality that your customers appreciate.
A logo on its own is the visual element. If it is designed well, then it can help push the brand. Branding holds the communication strategy.
Since both logos and branding differ, there is an effect on pricing. For instance, having a logo could be a one-off cost of around £500. Branding, on the other hand, may cost up to £10k or over. This is because there is a whole style guide that comes with it. It is a combination of communication, business position strategy, website design and development and many other elements. All of these are parts of the brand must be developed and invested into to give the brand the desired image.
How much do I need to spend at the stage of business I’m at?
A new business may not have much to spend on logo design. If your business is at a young age, then you don’t need to risk much money on making a good logo as you’ll have an opportunity in the future to change and improve it.
Some of the world’s most recognised brands have altered their logos many times over the years. Take Coca-Cola. The company has had many variations of it’s logo over the century. The first ever logo in 1886 was in a black font. Today, it is famous for its red script logo.
If your business has been established for a while and has a strong reputation and brand, then you might want to consider a logo. You don’t have to worry about making it perfect as it will definitely change with you as your business grows.
How much should I pay to design a logo?
There isn’t a set figure for this kind of service and it all depends on who you hire and what their rates are. If you approached a freelancer, they would charge differently in comparison to a design agency. Prices tend to vary because the rates are so different. For instance, a freelancer might charge by the hour while a design agency may give a set price.
If you’re a small business, a professionally designed logo can cost anywhere between £500 and £2000. If you are a bigger and more established business, you might pay between £3000 and £5000. And for even larger companies, costs can go beyond £10,000.
These are the most frequent pricing strategies in the industry right now:
· Hourly Rate
· Fixed Price
· Package Rates
Remember, the more you spend, the better quality and more professional the logo will turn out. Think about your budget and how much you are willing to allocate.
What’s the difference between a freelance designer and a design agency?
A freelance designer is more likely to be cheaper than a design agency. Freelancers will promise the service of designing a logo. But they might have limited experience and less advanced software. If you’re a business with not much time or money, a freelancer might be the best option.
If you are looking for a good quality logo, ask to see the freelancer’s portfolio. Get an idea of how much design experience they have because it will benefit you when it comes to the final result.
A design agency promises quality. The agency will have a large, creative team of professionals. Agencies tend to have better software and expertise at hand. This will help you create your vision of the perfect logo. Choosing this option can be pricey as you are paying for a professional service.
Can I make my own logo?
If you have set up a start-up, the cheapest option will be to make your own logo. Free logo generators such as Logojoy can offer you this service. If you do go down this route, you will have to stick to the free fonts and design icons and won’t get much variety. This is a great budget-friendly option for if you are starting out and don’t want to invest straight away. The quality might be low and generic, but you can look into investing in the future once you grow.
This approach is recommended for charities or those who are creating a personal project which will not generate a profit. For a company or business owner serious about building and growing their business then a logo is a very important asset to have in the early days of doing business and getting this right early on is key to establishing a marketable and trusted brand. This will help you focus on really developing your brand and getting customers. The effect of this is that people will talk about your business and recommend it to others.
Do freelancers need a logo?
If you work as a freelancer for yourself then this is fairly self-explanatory either if you run a business or working under a personal brand the logo will be the face of that brand an instant visual identifier to you your brand, product and service.
A good business image will help you gain clients and if you do great work for them they will help spread the word to family and friends plus other businesses they know with word of mouth to tell others about your work. Potential clients will want to look at your portfolio and talk to you about your experience. So it’s important that you work on your brand. This means working hard on projects and delivering quality results. This will not only boost your portfolio but will also get you positive reviews and referrals.
There isn’t a fixed answer to the question of how much a logo will cost. There are plenty of options available in the industry. It all depends on what level your business is at and how much you can invest. For a start-up, it might be wise to either create your own for free or focus on getting your brand recognized. In the future, you might consider investing into a logo because it will be crucial for you to stand out. So take time out to consider your options.