Is it worth paying for a logo design?
Obviously, we think so. What does it cost? Consider the worth of a logo like Apple’s. It is worth over 1 trillion dollars now. Steve Jobs paid $100,000. Pretty good ROI.
Apple’s brand is worth so much for several reasons, too many to discuss here. But remember, he and Wozniak started the business in a garage.
Can you get a free logo? Sure. Will you get what you pay for? Sure. Yes, we know that’s a little snarky but it’s true. Occasionally, there are exceptions like the Nike logo. It was created by a graphic art student in 1971 for $35. The student was Carolyn Davidson of Portland State University. Eventually Nike coughed up a little more for her. In1983, Nike gave her 500 shares of Nike stock and a diamond Swoosh ring. With stock splits over the years, the 500 shares eventually became worth around$32,000 each. This was in recognition of the brand equity of the logo she created.
Both of those examples are exceptions to the rule. For example, when I (Lee) created the Blockbuster Videos logo, I don’t know what my employer charged, but all I got was my salary. The account executive told me to buy stock, even if I had to borrow the money. I thought he was crazy, but now…oh well. Also, no stocks or diamond ring later, either.
The point is, most companies build brand equity with their logos, color palettes, typography, imagery, even the tone of voice in the spoken and written word. And the consistent use of all the above. Quality, customer service, integrity, fair pricing, and more—all the expected good business attributes, must be there first. Jerry Della Femina's famous line, “Nothing kills a bad product faster than good advertising.” holds true today.
So yes, if you have a good product or service, and you want to market it properly, pay for a logo. Even if it’s a paltry $499.
