Business Blog:
How valuable is your current logo?
Think of two Golden arches (or a giant golden ‘M’ if you’d prefer) in relation to fast food. Yes, you’ve guessed it already we’re referring to global fast food giants McDonalds (alright, that was probably a bit easy). Just describing with no visual representation shows the power of their brand logo. However, for a really cool example think or say the word ‘salivate’. What happens…Cool eh?!
The ultimate quest for large companies is to gain instant recognition.
Whether it’s the Nike ‘swoosh’, the Starbucks ‘Mermaids’ or the ‘bitten apple’ of (..yep you guessed that one too) their brand logo is nurtured and continually looked after.
We can argue that a logo is a companies biggest asset until we are blue in the face but instead we intend to provide a logical argument in regards to the financial value of a good brand logo. Stay with us.
Real Value
You don’t need us to hammer home the point that a good brand logo resonates as a measurement of the professionalism of a business. However what may be of more interest to you is that when your business is being valued (say, if you wanted to sell/retire etc) your brand identity is costed in to the valuation.
Real world examples of this are clear all around us, large companies are forever in the business news suing other companies for creeping into their branding intentionally or not. Cease and desist letters are issued in some cases but in both cases, it shows the value of branding to large companies. It’s big business.
Examples that maybe a bit closer to home could be: would you trust a company for their service if they didn’t have a professionally designed logo? How many times do you think your company has been overlooked due to the customers ‘first impression’?
The cost of loss of business encourages companies of all sizes to put a lot of attention to their brand identity which obviously encompasses their logo. Therefore we can confidently surmise that logos have a real financial value.
How Long Do You Want To Be In Business?
We won’t tell you that a logo design will be future proof (be weary of those that do), environmental factors such as technology developments will dictate this of course.
Your logo design should however evolve from a core.
Look at the evolution of some of these giants via BoredPanda. Yes there are some that have had massive developments early on but as time has developed what is clear is that the key elements have been repurposed in the new revisions.
Therefore the elements that make up your logo as recognisable, over time, offer a great return on an initial investment if you are building your business.
Will you be in business for 5 years, 10 years, 20 years or longer? Getting a logo design development could have a significant impact on the potential longevity.
Logo Design As A Signal
Earlier we briefly glossed over the loss of potential customers due to having a poor logo and brand, but it pays to think about this in reverse.
The design of a new logo will act to signify re-investment both internally and externally. Internally to the team – ‘we are developing, we are looking to the future, we have defined goals, part of our ethos is to grow’. And of course externally to the market and customers, ‘yes you may have overlooked us before but look again, we are developing, getting better, find out more about us’.
A new logo also signifies brand-regenesis. Let’s argue that a once established brand has had some really bad press (no examples here, not fair, you can think of your own I’m sure), naturally they are keen on changing their environment. A lot of brands have managed to make really impressive comebacks.
Giving the brand, and in turn the logo, a revitalisation demonstrates change but also an understanding of what the core value of the brand was to begin with.
Not to hammer on (goodness forbid), but we like to think we are smashing out some top logo designs for startups, small and not so small businesses. We’d love for you to take a look yourself, and from just £229 we aim to give you incredible return on your investment.
So if you are looking for something to represent your new venture, looking for a logo facelift whilst retaining the business tradition or looking to make a big resurgence, then our platform can help. Directly communicate with the freshest UK design talent and….
If you’ve enjoyed what you have read, we would love you to visit the bloghouse, which is chock full of more tips, thoughts and resources from SEO to Free Stock Images for websites and social media. You will also find us the usual networks: Facebook, Twitter, Instagram
OUR PARTNERS
