How much does a logo cost?
The short answer? It depends. Yes. We know that’s a frustrating answer but that’s the truth!
For example, on average, a UK start-up or small business spends between £150 and £750 on their company logo. This is compared with large corporations whose average spend can be between £6,000 and £10,000. For global brands and household names, this cost can end up in the millions of pounds.
So why this difference? Why is it so difficult to find a straight answer?
The cost, or value, of a logo really depends on the size of the business, the amount they are able to invest and, most importantly, the perceived benefit of a redesigned logo to the business.
For small start-ups, it’s possible to use a ‘build your own logo’ site which, for a very small cost, will provide you with a simple logo to start you off. These logos can be customised by colour, font style, icon etc. This can be a quick and cost-effective way of creating a logo. However, these sites often use stock icons / graphics so if you’re after something unique and relevant to your audience that will carry your brand further than business cards then we wouldn’t recommend it.
At the top end, some global organisations will spend a seemingly inordinate amount of money on a logo. The media has recently enjoyed dramatising this spending, but their headline grabbing stories are often misleading. For example, earlier this year, the Government were reprimanded for ‘spending £50,000 on a logo’ for Portcullis House. However, this missed the full picture. Their whole brand identity was refreshed to make them more accessible, more digital-ready and increase public interaction. It involved redesigned colour palettes, iconography, infographics, typeface, print materials and digital applications. The logo was one small part of the project. Even the logo redesign was more complicated than it first seemed with versions for print, digital, small format etc. This was no clip-art logo.
Others, such as Pepsi, have so much brand value invested in their logo that the logo is worth a huge amount in and of itself. However, even then the $1million price tag on their logo redesign included a wider brand piece so, again, wasn’t the cost of a logo alone.
This example highlights the problem that for many people, a rebrand equals a new logo. However, attracting new customers, increasing sales or reducing churn of your employees won’t be achieved by a new logo alone. We would urge you not to think of brand as a logo – it’s only one component of the whole brand experience. Yes, it can be an incredibly important element which acts as a mental shortcut to help consumers recognise you quickly, but it is very rarely viewed in isolation.
If you think you need a new logo, first ask yourself what you’re trying to achieve. Think forward to your business objectives and vision. What do you have to invest right now and what value are you looking to add through your brand?
We can’t tell you how much to spend on your brand or logo; it needs to be linked to what you feel you can invest and the value you want to get out of it. What we can do is provide an independent perspective on your current identity and talk through your challenges to see if a rebrand is the right way to address them.