When do you think about the word “logo” what springs to mind? Possibly the red and white script of a certain soft drink brand? Or maybe the red, white and blue of its closest competitor? Just how much does it cost to create your own logo? And what makes a logo effective?
What Does a Logo Do?
Logos are much more than simple pieces of artwork. A good logo identifies a product, encapsulates what a business does and makes that brand instantly recognizable. A good logo is vital for good branding.
There is often much more behind logo design than meets the eye. Plenty of research goes on prior to the concept of the logo being created. At the high-end corporate level, whole brand strategies hinge off that logo and include research into the company, what it does and how it operates.
Will Logo Work?
When the logo itself is created it must pass multiple tests. Will it work as well on stationery as it will on the back of a bus? Will it look good on signage as well as the business cards? Does it still work when converted to black and white? Does it step on the toes of other registered trademarks?
How Much Did Those Famous Logos Cost?
So which are the most expensive logos in the world and which are the cheapest? You may be surprised.
Let’s start with a product already referred to earlier, the very popular soft drink brand. The logo design for this brand of soft drink is as iconic as it is old. It was the partner of the company’s founder who designed that familiar red and white script. He felt that the two Cs would look good in advertising. That was back in 1886, so it seems he was right. And the cost of that logo — nothing!
Other companies that have paid $0 for their logos include big players such as the American multinational technology company best known for its widely used PC operating system; and the company behind the world’s largest search engine. Both of their logos were designed in-house or by friends.
Other companies have invested millions, if not billions of dollars in their identity strategies. Take, for example, the second-largest bank in Australia. This well-known bank took two years and spent a whopping $15 million on re-branding and producing a new logo. This included a revamped marketing strategy as well, and when you consider the money that banks make it was probably money well spent and justifiable.
Don’t Panic!
If you’re setting up a business and are despairing about the cost it would take to create your own logo and establish a market brand, maybe grab yourself a Coke and have a think. If that logo in your hand is still going strong well over 100 years after its design, maybe all you really need is a great idea, and perhaps a computer geek as a friend!