Recently I had the honour of representing the Sunshine Coast design industry at the Matthew Flinders School careers night.
The evening was well planned, with around 30 students rapidly firing questions at me about the design industry and their possible future in it.
While every question I received was articulate and well thought out, the one that stood out the most was a simple question…’What is the importance of a Logo?’.
Every day I have potential clients contact me requesting quotes on logo design services, and while around 70% of these turn into clients, the remaining 30% I will usually ask them why they didn’t choose my services, and in most instances the answer was down to the price point. The reality is that around 30% of business owners do not see the value in a logo.
But going back to the question asked by the student of ‘what the importance of a logo’, my response was that it is the most valuable part of any business.
More valuable than the fees of many years of Private Tuition, University or Business School required to start a business. More valuable than the machinery or premises in which you run your business from.
Your Logo and Branding is the symbol on which people identify you from your competitors.
I told the Student to look at his jacket with the school crest on it, and said that it is that logo which identifies him from other school students, and it identifies the school from other schools. While wearing that jacket he represents the school and the morals it stands for. If he commits a crime or any wrong doing in that jacket it gives the school a bad name. If he does good, it also reflects the school.
Your business brand is no different, in the fact that your logo represents everything your business stands for. Look at the leading businesses in the world…Apple, Virgin, HP, Amazon, Mercedes Benz, etc. Each of these businesses have their own ethos, and when people see that logo they instantly align with it. What makes people want to buy a Mercedes Benz when it is technically just a car like any other brand of car. The Mercedes brand represents prestige. When people see that logo on any vehicle they associate it as being a prestige vehicle, and it is what sets it apart from it’s competitors. That brand and icon is worth more than the company itself.
Next time you are planning a business and looking into your logo design options, consider what your brand is really worth. If you believe it is only worth spending under $100 at an online design contest, or worse, designing it yourself, then maybe you need to consider what your business is truly worth.
The reality is, most people will spend more on a week-long vacation in Bali than what a logo costs.
In the long term, which one will be worth more to your business and your retirement fund?
So next time you think about the importance of a logo for your business, think about what you are willing to ‘invest’ in your business identity, as it could be the difference to the success of your business.