Do you consider a logo as an investment in your company or an unnecessary expense?
Putting a dollar value on something that will represent your company for (hopefully) its lifetime will all depend on whether you approach the logo design and branding of your company as an expense, or an investment for the future. If you view your logo simply as an expense, you probably won’t view it as being worth very much. If, on the other hand, you view your logo as an investment in the overall picture of your company, a flag around which you, staff and customers can rally, then your logo is going to be worth a lot more. And worthy of the extra time, and expense, involved in doing it up right. That’s not to say you have to break the bank to get a great logo – you don’t – and it’s up to you to decide the value of your new corporate logo.
A company logo design is not an expense – but an investment in your company’s future – and approaching it in the same headset as buying printer toner can be detrimental to the outcome. Relatively speaking, and over the course of your company’s lifetime, there will be a few things that you’ll get as much mileage as your logo, and the money that you spend initially for its development. It’s up to you to decide how much that investment is worth. It does make sense to drop a few grand from your sales to spend for your logo and brand work-up.
It’s difficult to put an actual dollar figure on the value of a logo but it’s substantial. An effective logo is a way that you can tell potential customers your story, or more accurately, part of your story. Sometimes it’s the only method available – best to make it count. And while it’s true that you can always rustle up some cheap logo design work, it’s probably wise to think long and hard before doing so.