The Value of a Logo
It’s hard to put in dollars and cents the actual value of a logo. Logos, of course, are part of an overall brand. Companies that are bought and sold are purchased not just for their products and services, but for the customer base they bring to the sale as well as the brand recognition. The higher the brand recognition, the more a company is valued.
That’s because logos are part of brand recognition, and brand recognition is a shortcut for advertisers. The more recognizable the brand, the more it is marketed by word of mouth and by instant customer recognition. Companies can spend less on advertising when a brand becomes so easily recognizable that customers have no trouble identifying the products or services that accompany it.
Pepsi paid $1 million to update its logo. The Olympic committee paid $625,000. The good news is, you don’t have to pay hundreds of thousands of dollars for high quality logo design!
Sometimes knowing what not to do is just as helpful as knowing what to do. When it comes to tips for designing a great logo, there are also a few things to avoid.
Obviously, a direct copy of another company’s logo is a no-no. Not only is it unethical, but you can be subject to lawsuits or trademark infringement. Not something you want to face, we’re sure!
You can certainly bring logos you like to your meeting with your designer. That can help the designer understand what you like and what you don’t like. Let good design inspire you, but never try to copy someone’s logo directly.
You run a ballet studio, so your logo features a ballerina and the words “ballet studio.” You own a Mexican restaurant, so your logo features a taco. Neither is a terrible idea for a logo, but it’s also not great, either. It’s very literal, and that may not make it distinctive enough to be memorable.
Can you recognize the Apple computer logo when you see it? Sure, it’s an apple, but it’s not a plain, ordinary apple. There’s a bite out of the apple — and in some cases, it’s a rainbow-colored apple. Those two changes set the apple apart in the logo, making it both distinctive and memorable.
Consider this when you’re working with your designers on your logo. You want your logo to reflect your business, but there are other ways of reflecting your business than using a literal icon for what you do. To make it memorable, you’ve got to make it different, and to do so, take it from the literal to the conceptual.
Taglines are an additional saying or slogan that helps people remember your brand. Some logos include them, and some do not. It’s often easier to design a logo without a tagline than with it. Taglines can be lengthy and difficult to fit with a logo. They can also change over time, while logos tend to remain the same for longer periods of time.
If you feel like you can’t live without your tagline, have two versions of your logo made: one with the tagline and one without it. That way you have the flexibility to use the version that will work best with your current project, and if the tagline changes, you’ll still have a great logo to use.