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.
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.
WHAT DO YOU WANT TO DO NOW?