And how much should it cost?
The other day a potential client asked for a proposal for a logo design. I send him an email with my price for a single logo mark. €800,-, or €1200,- if you want it easily applied to different media. I explained the deliverables and process and send the email off to him. The client was clearly a bit shocked and hasn't replied yet whether or not it's a go. Which is why I am writing this article.
I made a classic mistake.
I took things for granted, I forgot to clarify the costs and explain why €800,- is worth their money. So as a reminder for myself and to clarify it for potential clients I would like to dedicate this moment to learn a little about pricing, which is usually not about the price, but about understanding how to make an impact with your brand.
Pricing is part of a strategy, both your strategy and my strategy and should be treated with respect to our business.
A simple logo should never be just a simple logo. Investing in a logo is a conscious business decision. This decision is based on the impact you see you can make at that moment. Deciding that you want to have a logo (redesign) means you see an opportunity to communicate with more focus and clarity with your audience, that you can (re)ignite your emotional connection.
So how do you know if investment is worth it?
It's mostly about customer engagement. You can get a logo for very cheap and sometimes even for free. You might even get a very cheap logo that actually looks pretty cool. You probably will have your say, as a client, to how cool you want it to look. But a logo is not a form of coolness and you, the client, are no logo design expert (why else would you hire a designer to do the job?). A logo is a device that gives your audience the opportunity to connect with your brand on an emotional level. It should be designed with your company values and your mission in mind. If designed properly it will be a visual representation of your brand and it helps carry your message, your mission, your story. The logo (although not the only device to do so but a primary one) gives your audience the opportunity to show they care about your story, that they support your mission and share similar values as your brand. A logo is never just a logo, it's a statement. You have to provide the right tools for your audience to carry on your story through every touchpoint. You have to make it easy for them to share your story and that they are proud to carry your mark. This is where you will see the value of your logo and understand the value of your investment. A logo is not just an image you get for free, or €200,-, €400,-, or €800,-. Your logo is the most essential brand element that helps your audience talk about you and carry out your message for you.
What should be your priority right now?
I'm not saying that paying €800,- for a logo is always the best option. Like I said at the start, it's a conscious business decision where you have to decide where you can create the biggest impact at that particular moment. Often, especially with early-stage startups, the first thing to invest in is a website or a place for your tribe to find you. It can also be a social media channel where your investment would be best served in ads or other ways to gather information about your audience and to show them you are there for them. It also depends on the market you are entering. The more saturated the market the more important your story and identity become in order to stand out from the crowd. As a more disruptive company, you probably should invest in your product or service more than in your branding. This is because your biggest impact is with your product or service and you want to reach and capture your audience before other companies start to copy you. Your disruptive product or service is what sets you apart, what makes you unique. Use that as your advantage. Once people are using your product or service they will less likely change to your competitor. When competitors start entering your market or when you have your product or service running smoothly and it's attracting clients it is time to focus on your essence. Who are you, who are you for? What are your values? A clear product or service placement, combined with a strong branding will make sure you outlive the competition or might even set you completely apart within the market.
If you are currently in a saturated market, or if you are a disruptive company and have a clear product and service, but you don't have a clear mission statement yet, haven't really got a clear picture of your company values, you are always welcome for a chat to see how you can make an even bigger impact.