Pricing in design defies logic. And this is particularly evident in the cost of logos: you cannot be sure that a work worth tens of thousands of pounds will be more successful than a free drawing on a napkin. What is it, an adequate price for a logo? The ICS team understands the principles of logo pricing and gives practical advice for graphic designers on improving quality and value.
Why businesses need a unique logo
image: Freepik.com
Before we dive into the intricacies of determining the price for a quality logo, let's focus on why a business actually needs a logo. Here are the most obvious reasons:
to draw people's attention to the company;
to become easily recognisable to other organisations, whether the logo appears on a smartphone, in a digital advertisement or on a billboard;
To broadcast what the business does, or stands for,
Be unique. No one will be happy with legal action over copyright infringement around a logo.
That said, it's worth remembering that a logo only acquires any real meaning in association with a product, service, business or corporation. It derives its meaning and utility from the quality of what it symbolises. If the company is second-rate, the logo will ultimately be perceived as second-rate. It is reckless to assume that the logo will do its job before the audience has been properly prepared.
What the customer wants to get when they pay for a logo design
Here are the minimum requirements for your product:
A logo design in formats that you could modify or scale as needed in the future;
Vector format for PNG, EPS, SVG and PDF printing;
A set of vertical, horizontal and square formats, monochrome, multicolour;
Optimised logo version for website/social media;
Guarantees that the logo design will be the sole property of the client. This requires proof of copyright.
A good logo design is what?
Everyone has their own quality criteria, and these vary according to their environment and mood. Some of the universal ones are:
The logo should be scalable, meaning it can be enlarged and reduced in a wide range of sizes without losing readability or distinctive outline and without creating a false reading. Vector formats are used for this: .ai, .cdr, .EPS, .SVG and .PDF;
A sign should convey basic meaning and emotion with a minimum of detail. The fewer the details, the easier it is for the brain to remember the image.
The mark should reflect some kind of consumer (and) or business philosophy. In this way, marketing can be made consistent with the logo "mark".
The logo should look recognisable in all circumstances, in small size, in print, on screen and even in black and white.
Timeless. Every fashion trend popular today (swooshes, glows, or bevels) is irrelevant and becomes a cliché tomorrow. Over time, such a logo will become irrelevant and not unique, and your task is to create a unique logo that identifies your company in an original way, for years to come.
A successful logo for a brand is when the brand and its lettering appear simultaneously and inseparably in the consumer's mind. A logo is therefore an important part of marketing communication.
Logo price ranges
Let's divide the typical logo ranges into 4 levels: budget (£0-£400), medium (£500-£2,500), high end (£2,500-£5,000) and luxury (£10000+). Let's explain what happens at each of these levels and why it costs so much.
image: Freepik.com
Budget price list for logo design
Design options:
DIY / Logo makers: £0 - £50
Logo Template: £5 - £100
Logo competitions/crowdsourcing: £50 - £400
Online logo generators offer only generic, boring, formulaic designs. There is nothing premium or professional about a generic logo shape. If you use stock images or templates, the corporate identity of such a company will look like thousands of other companies. You will simply confuse potential customers. And, importantly, it is impossible to register a trademark on logos containing images or templates.
That said, graphic editors allow you to draw a unique logo and show all your creativity. The cost of designing a logo yourself (apart from the cost of the software) is your time, as you will have to design your identity from scratch, without any templates. This method is suitable for those who have at least a little experience in design. For those who only know about vector graphics, there is a convenient way to learn how to draw logos on a graphic design course .
Cost of a mid-range logo design
Here are the performance options:
Beginner freelancer: £100-£1000
Experienced freelancer: £1000-£2500
Small design studio: £2000-£10,000.
One or a team of three to five professionals will provide a good presentation outlining the ideas. Ideas worked out.
Prices for high-end logo design
Medium-sized agency: £5,000 to £50,000+
Branding agency: £50,000 to £100,000 (usually includes strategy and global brand identity)
A moderately reputable agency will do a quality design with analysis and justification. In this case, the client will already need to be involved in the process because 'just don't like it' is not a serious argument. Professional. Predictable. Can't be argued with.
image: Freepik.com
Luxury logo design prices
Renowned branding agency: £100,000 to £1,000,000 (usually includes strategy and global brand identity)
World-renowned designer: £100,000 to £1,000,000+
A very well-known agency will powerfully elaborate, strategise, test with focus groups, etc. This involves the client in an interesting development process. Presentations and briefings. It's ownership and the chance to be guided by renowned class specialists. For some, this is more important than the logo itself.
What the cost of a logo really depends on
The cost of a logo is shaped by:
The cost of a logo is based on the time it takes to create it and the number of revisions to be made to the design;
Number of corrections to be made to the design;
the package of submitted materials. This can be a single raster file without the possibility of making changes, or a complete package of elements of corporate identity (the logo on business cards, letterheads, and envelopes, in horizontal, vertical and optimised formats).
team skills,
depth of study of the communication environment and competitors,
quality of the justification of the concept at the presentation;
the elaboration of the integration of the logo in the marketing communication.
Where does a graphic designer develop to charge more for logo design?
image: Freepik.com Professional logos are created by designers who know the logo design concepts, psychology, and trends that work best for the brand. In addition, they have built up an impressive portfolio by working with several different clients. That's why the price tag for their work is so great. In developing the graphic arts course we have focused on working through the points that allow graphic designers to raise their level of professionalism. Here they are:
Hone your vector graphics drawing skills, as the logo design files should be free of technical imperfections. Curves should not overlap and should be as smooth as possible, and nodal points should be kept to a minimum. If the logo is symmetrical, the symmetry should be perfect. Remember that presenting the logo at a different scale, e.g. at scale and placement on a truck, will reveal all the errors and imperfections that might have been overlooked.
Immerse yourself in the world of typography. Learn to create your own fonts without having to look back at the list of fonts available in Word or Google. Practice combination techniques without being cluttered. Aim for simplicity and the maximum expressiveness of minimalism.
Understand the psychology of colour. Colour is a huge factor in brand identity and can both help and hurt a company. That's because colour has a profound and often subconscious influence on people's behaviour. The right colour can evoke a strong emotional response and connection to a brand.
Learn to create timeless logo designs. Do away with transient visuals that are easily forgotten. To do this, track trends and fashion solutions from industry-leading designers.
Take the time to do market research and competitive analysis. They will ensure that the logo you create will build the brand as the company expands.
Pump up your persuasive communication skills to justify the concept at the presentation. Customers don't just want an image of their business, but a firm belief that you've chosen the right message to communicate the company's philosophy.
Create a line of services with the flexibility to meet the customer's needs. Some people just need a logo idea, while others need a full-fledged integration of the identity into their marketing communications. The extent to which you understand the importance of each stage in logo design will help you deliver value and increase your average bill.
Be selective with who you work with. An in-depth pre-interview before you start will not only help you get to the heart of the client's business, but will also help you understand if the value of the company whose logo you are putting in your portfolio is right for you.
Work on your own specialist brand. The responsibility for how and in what context your future customers will hear about you lies entirely with you. Publish on social networks information about solved cases, participation in relevant conferences and competitions. Share your ideas for improving your logo on a regular basis and gather an army of fans around you.
image: Freepik.com
Conclusion
Having a catchy, easily recognisable logo is an absolute necessity for any business. Regardless of the size of the company, a business should have a logo that will represent it everywhere for years to come - so don't sell yourself short. To do this, work on enhancing your services: study the psychology of colour, typography, communication environment and competitor research, work on concept justification on presentation and options for logo integration in marketing communications.