How Much Should You Pay For A Great Business Logo?

A company’s logo is its asset and hence, investing in it is a decision that should be made with care and caution. No company would want its spending to go down the drain, therefore; it is important to determine the aspects that play a major role in getting a logo designed before a cost is allotted to the same. Knowing these facets, a company can ensure that it is putting in the right amount, in the right place, for a suitable corporate logo design.
Time Taken

The cost of a logo is often measured by the time a designer takes to construct one. It is seldom that designers come up with a design promptly after its description is conveyed. Professional designers, and even amateur ones these days have a complete process premeditated for getting a logo designed. This process usually starts with brainstorming, where the concept of the business is understood and ideas for a creative logo design are devised. Once in mind, the idea is given a digital form while being submitted to the client. Changes are incorporated after obtaining feedback from the client, after which the final files are submitted.

This whole process though takes up a lot of the designer’s time, however; helps ensure quality and excellence. Hence, greater the time required by the designer, the more detailed the process is likely to be and the higher the fees the designer is expected to charge.

Work Quality

The work quality of the designer also determines the price that should be paid by the company for its business logo design. Designers producing good quality work are likely to demand a higher price, however; paying them as per their request is never a loss-bearing deal as a higher initial investment in a good quality design is sure to get a company greater profits in the future.

Level of Expertise

Paying by the level of expertise of the designer does not suggest that amateur designers do not deserve a better pay. Expertise, as a matter of fact, is not only determined by the number of years in the industry but also by the knowledge of the designer with respect to the design tools. The better a designer has a grasp of the tools he uses, the higher price he deserves for the job.

Creativity also makes it to this domain while being a major factor in the determination of expertise. Hence, a designer who can come up with amazing logo design ideas is to be considered an expert in the domain, which makes him worthy of charging a high price.

Therefore; creativity combined with the knowledge of the industry and know-how of the design tools, are factors that make the designer more credible and the price of the job higher.

The Value As Perceived

While contemplating all these factors, a company should also focus on its own perception of the value of the design. Logos tend to be different for different companies and industries, therefore; the works of a single designer are likely not to be valuable for all. A company, hence, should also consider the value they believe they will be getting from the design, before making a decision regarding the designer’s payment.

There are a lot of factors that can help determine a company the value of the design. These factors include the following:

• How well does the logo depict the brand’s story
• How well is it aligned with the preferences of the target market
• Is the logo approachable/ welcoming
• Is the logo simple enough to understand

All these factors combined, help decide the price that should be paid to a designer or agency for the professional logo design they have created.

What should be the Average Cost of the Design?

There certainly is a range between which the logo designers charge for their designs. This range goes from $200 to $10,000 depending upon the credibility of the designer or agency.

There are designers that charge a lesser price than $200 from their clients, however; knowing the scrutinizing process now, a company can easily determine which designer to opt for and which one to reject for getting a great logo design for their business.