The price of a logo should be based on three main criteria:
1. Experience/talent of the logo designer:
This is THE most important factor directly related to the cost of a logo. The old saying “you get what you pay for” couldn’t be more true in the design world. The talent and experience of the logo designer ultimately is the key ingredient to a successful logo design for a business that will last the life of the company.
2. Size and budget of the company using the logo:
The size and budget of the company using the logo also plays a key role. For example, if the logo is designed for a small “mom & pop” shop in your local area with very little exposure than this logo is valued less than a national client where the logo will be exposed all over the country. The exposure of the artwork ultimately plays a role in its value.
3. Scope and reach of the company’s market (local vs. national vs. international:
This factor somewhat overlaps with the first 2 points but is explained more clearly here. As a designer you basically have 3 types of clients of how your artwork will be used:
a.) Small business – logo more likely to be used locally: think your smaller “mom and pop” shops where the logo will primarily be used for brand identity purposes (sign in front of the store, business cards, etc… ) This less exposure for the artwork designed should definitely be taken into consideration when pricing the logo project. The smaller the audience or level of exposure the less value ultimately is placed on the logo.
b.) Medium business – logo more likely to be used nationally: think your medium-sized businesses where the logo will be used for branding purposes on letterhead, envelopes, business cards, magazine ads, outdoor signage, social media, website, direct mail, print collateral, etc…
c.) Large business – logo will have the potential to be used internationally: think your medium-sized businesses where the logo will be used for branding purposes on letterhead, envelopes, business cards, magazine ads, outdoor signage, social media, website, direct mail, print collateral, with international exposure covering more than one continent. This level of marketing and advertising puts a designer’s artwork on the highest possible level of exposure thus making the design work even more valuable as the target demographic is exponentially increased to a whole new level.