Written by Canon Wing

I teach entrepreneurs and organizations the proven action steps to stand out within their market, improve the perceived value of their business, and better connect with their audience through naming, branding, storytelling, and communication platforms.

May 25, 2021

How Much Should I Pay For a Logo?

One of the biggest determining factors to how you budget your creative design work is value and impact. Logos are readable in every language. Logos are wearable on everything, every piece of clothing. They are highly adaptable and get carted around in front of brand loyalists’ friends. Think of your logo as a little PR agent promoting your brand through the most effective way to market – Word of mouth.

Bill Gates said, “If I were down to my last dollar I’d spend it on PR.”

Whether you’re at the beginning and creating your name, or you’re onto the third landmark of getting your logo created, this investment will impact your brand on so many fronts: sales, marketing, recognition, attracting partnerships, licensing agreements, book creations, and campaign, live event presentations, an app, a product, product box…the list goes on. The key is you are investing in value to your brand. This can take the form of more customers, better brand recognition, more conversions on a website, more books sold, more invitation to podcasts or television appearances, a monthly column in a choice publication, a wealth-building mastermind in Malta, or more tickets sold for a webinar on The Psychology of Eating.

Your investment in design work is an investment to improve some part of your business. This is what we mean by pricing the impact and not the labor. Clients always need to have a budget allocated for resources to complete a specific project. They have the finances to make these projects happen.

So why are some entrepreneurs still hiring “talent” for $5? 

This price point should tell the discerning entrepreneur this person is either just starting out and you’re paying for them to learn on your time, or this person has been doing this a long time but have either gained mastery of it, and can price accordingly or worse, they can’t communicate the value of what they do because they have never seen their work gain massive value for a client, or they don’t know how to communicate it when it does.

Think about the seemingly simplistic Nike logo, now worth googoo bucks. Put it on a plain white t-shirt, and that shirt goes from $5 up to $20. That logo is essential to creating more value, more impact for the brand. That logo is a walking advertisement providing that all-mighty word-of-mouth advertisement. We’re 50x more likely to buy from word-of-mouth advertisement – Are you starting to see why you budget creative work for the impact, the value, and not the labor it takes to get something done? A truly impactful logo is worth billions, it’s a piece of the brand that creates recognition, trust, and impact.

 Design ultimately solves problems, more succinctly said, “Brand Messagers Overcome Obstacles to Buy.” 

The logo or name or tagline is there to resolve a vulnerability, a personal issue for the client they aren’t able to do without the help of your brand, or your competitors brand if your competitor’s branding landmarks have a better impact than yours on your ideal individuals. Budget accordingly, and remember to communicate the value of the impact you’re after during the creation of each of the 10 Brand Landmarks throughout the creation process.

Another huge value you get by investing in a professional to create your Branding Landmarks is you get to focus on creating products and services that create new revenue streams as well as new ways to connect and serve your community, and that’s what it’s all about. You get more time to do what you love.

For more on the 10 Branding Landmarks click the link below.

 And remember we are the collective energy of the people we surround ourselves with; surround yourselves with talented people, who’s personal ambitions are to deliver the best quality work to you, those people’s personal goals are perfectly aligned with yours. That should speak volumes to anyone who has ever had a naysayer in their life just beat their dream down into a pipe dream. Don’t let that be you. You have it in you to believe in yourself to say, “I’m worth this, my time is worth this. I am on a mission, and I’m going to do this right.” The one thing I want you to take away from our talk today is that yes it can be challenging to LET GO of the reins a little and not do everything yourself, conversely, it can be easy to think, “ahhh the logo doesn’t matter. I’ll just put something up…” that’s just another way of under-valuing yourself, your time, your focus, your goals. Here’s a mantra that has helped me and 1000s of my clients become an Inspiration to Millions, Do What You Love, and Love How You Do It.