The creative process is a magnificent thing that takes both time and effort to successfully realize one’s vision. As a designer, figuring out the right price point for your creative work can prove to be a problem. In this article we discuss How Much Should You Charge for Logo Design.
This is mainly because design work cannot be measured in terms of the hours you’ve spent and cannot be assigned a set price for each project. With these hurdles, it can be difficult to figure out how much you should charge for logo design.
On one hand, you don’t want to charge too low and devalue your work. On the other hand, you need a fair rate for your client for the return they will be getting from your completed work.
In the end, there is no right or wrong answer, it is a matter of balance. You need to take into account the processes and effort that you put into your work and the value that the client will get from it to determine how much to charge for your logo design.
We’ve boiled down the main factors to consider before determining a price for your logo design. It’s all about starting and leveling up as you go.
Level of Expertise
Like in any other field, you’ll find different people with varying years of experience, which means their work vastly differs in its quality and return on investment for the purchasing party.
With this in mind, you need to figure out where you are in terms of experience, quality of work, and years in the job to better price logo design for you. Have a look at the design world and where other designers similar to you typically price their projects to help you keep your expectations in check.
Type of Client
Given that you’ll be working with different people with varying needs, you need to get better at evaluating your clients. Figure out what this design means to them and how they plan to profit from their branding.
For instance, if you were to work with a large well-known company, the pricing for them would be high. They expect to pay a premium and may even be turned away by too low a number. Take into consideration the fact that their rebrand will potentially result in million-dollar profits and will be implemented in millions of dollars of ad-spend.
On the other hand, working with nonprofits or a local business will require you to lower your prices. Consider the income of your client, the purpose of the logo, and how they’ll benefit from it to help you plan your pricing.
Determining the type of client, their budget, and what they intend to do with the design is paramount for selecting a price to quote.
Scope of Work
What does the client want from you as the designer? Clients will in most cases give specific details on the deliverables that are expected of a project.
If this is not the case, you need to ensure that you get clarity with them on what is expected. Having your project specifications beforehand will help you better plan your pricing.
For instance, if a client requires you to submit a few designs for them to choose from or will require revisions, you have to factor this in. Make sure that your pricing is inclusive of all the work that will go into your project, even the simple things like writing down your ideas and brainstorming design concepts.
The turnaround time on any project is either determined by you or the client. In cases where the client wants the work done in a shorter time frame, you’ll need to include that aspect in your pricing.
This is because a shorter turnaround time will interfere with your processes, making you work longer hours than usual, not to mention putting them before other clients. This should however not interfere with the quality of the work delivered.
Price Ranges in Logo Design
As you’ve seen, your pricing will be determined by a few factors depending on the specific project you’re working on. However, there are a few pricing tiers that will help you better position yourself.
Pricing ranges from $5 to exorbitant prices in the millions. In this article we’ll not cover the lower cost logos, seeing as the quality of work done is not desirable and often than not copied from more experienced logo designers.
Our advice is to stay away from these low priced services as they are cheap meaning they don’t value you as a client or your business.
Here are the different popular pricing points and what they entail.
£500+ Logo Designs
This pricing is a great place to start for small businesses. With this, however, you have to ensure that you give it your best shot if you want to build a better brand and name for yourself.
Building your brand and experience will help you charge better for your designs. It’s just a stop gap as you start your pricing journey.
£1000+ / £2000+ Strategic Logo Designs
Charging £1000 or more is a step in the right direction. It comes with the experience you’ve gained after working on several design projects. Perfecting your processes and improving on your quality will allow you to charge better each time depending on the client and scope of work.
£3000+ / $5000+ Strategic Logo Designs / Brand Identity Design
When you start working with more established businesses in the medium size range, the project scope will increase. Most of them will require more than just a logo design, you will start to work more on brand identity design.
This can include a range of brand design elements and visual components such as:
- Strategic Logo Design
- Band Naming
- Taglines and slogans
- Colour Palette
- Style Guide
- Business stationery design
- Social Media Design
- Digital Design
Some brand strategies may also be required in this bracket that can include:
- Brand Messaging
- Brand Personality
- Brand Mission
- Brand Attributes, Traits, Qualities
- Brand Purpose and Positioning
£10,000+ Strategic Logo Designs / Identity / Strategy
If you’re working as a team and have your sights set on big and established companies and corporations, this is a great pricing point.
This will include the above and might however involve other branding and marketing aspects. This is why working as a team of people with different expertise works best in this price range.
When it comes to pricing, there is no right or wrong answer when figuring out how much you should charge as a logo designer / Brand Identity Designer.
The figures above are for example purposes, they are not set in stone for what you should charge. All factors must be considered when pricing your logo design and other creative services.
Be honest with your expertise level, evaluate who your client is and the value your logo brings, the turnaround time, and lastly, your project specifications.
It’s not about price, it’s about value!
Given the creative process that comes with designing quality strategic logo design, ensure that you price yourself right. Your prices can differ with each project you take on. Be sure to stick to delivering quality and always taking your client’s specifications into account.
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