Effective Cost Estimation: Logo Design Costs You Need to Know
Having a logo gives a brand identity. A simple artwork, design or even a stylized acronym could right away represent a brand or company. The brand logo is what makes a company unique and can easily set them apart from their contemporaries.
It is often overlooked but spending for a logo design is a needed investment for any brand looking forward to establishing their persona in the market.
It is advisable to hire a professional graphic designer or design firm for your logo creation needs. However, not everyone is convinced in spending money simply for a logo alone. They feel the money spent on the logo design is much better spent on other facets of the business.
These are the people who do not know the impact of a logo on their business. It could also be understandable the business capital is tight and logo expenses would mess up their cost estimation process.
For small up to mid-sized businesses, getting professional help for a logo design could be too much for their budget. They may consider using the DIY approach if they really intend to have a business logo.
They can just take advantage of professional help later once they have profited from their business and then have graphic designers tweak their design for the final logo.
The Cost of a Logo Design
Logo design costs can come in for free if you do it DIY style with the help of free software and programs out there and could also cost you thousands of dollars if you seek help from high-end graphic designers and firms.
Fortunately, there are different options available when it comes to logo design creation depending on your budget and business size.
Logo Design Options
1. Low-cost logo design: $300 and below
If you have the skills to create your own logo design, then you can go with the DIY method for free. If you don’t have the skills, you can go for free logo generators available online then only pay for the final design created out of the program for a price of $10 up to $70.
You can also choose to hire freelance graphic designers for a fee of $200-$300. You simply give them your idea or preferences then they will create the logo in a day or two depending on the complexities of the design. However, do not expect too much out of these options but you will surely have a simple logo yet generic with this low-cost option.
2. Midrange cost logo design: $300-$2000
Professional graphic designers normally charge around $500 up to $2000 depending on their expertise and experience. The better advantage of hiring a professional compared to a freelancer is they can work with you one-on-one to make sure your preferences are all covered for the final logo design.
Revisions are inevitable, but this is already inclusive in their professional fee and there would be no need to add payments. This way, you would not worry about your cost estimation for the logo design costs.
3. High-end cost logo design: $2000 and above
When paying for a high-end logo cost design, you aren’t simply asking them to create a logo design for you, but you are basically purchasing the logo customized according to your preferences. High-end graphic design and logo production services are offered by design agencies and could come at a hefty fee of at least $2000.
A design team is assigned to your project and not just an individual graphic designer to make sure your preferences get covered in multiple platforms and perspectives. You will have full legal copyright of the logo and it will already be optimized for website usage and other digital platforms.
Logo design costs should rightly be considered in the cost estimation process. Even though I believe that this should not be on top of the priority list, you still must allot money on your logo design if your goal is to make it big in the market and easily get recognized by your target audience.
It does not have to be part of the initial cost estimation process for the business but has to be considered later on once the venture has established.
Successful Lead Time Analysis: Time You Need to Create a Great Logo
The logo is the easiest identifier for any brand or company. It is a direct representation of what they are all about in terms of products or service. This is the reason why logo creation can become a critical process for any company and you need to invest the right amount of money and pitch in the perfect ideas for it.
The time duration of logo creation, from its conceptualization up to the final design, is also a consideration for the company. Here is a different take of lead time analysis on logo creation given there are a variety of options for them.
Creating a logo could take minutes up to weeks depending on the preferences and details needed for it. However, it would not take more than a month to complete any logo. Here are logo creation options depending on the time allotted to create them;
1. Doodle logos
Time to complete: a few minutes
A doodle logo is also known as napkin logo (since they are most of the time drawn on table napkins) only takes a few minutes to make. It could be a simple design with not so much details and complexities going on.
Some of the more popular logos out there are doodle logos which makes it harder for modern companies to establish a logo for themselves out of simple doodle logos since most ideas are already taken particularly acronyms and company initials.
2. “9 to 5” logos
Time to complete: a few hours
“9 to 5” logo designs are much like doodle logos except that it takes a longer time to make because of an existing concept were the logo design should be based on. Unlike doodle logos wherein the designer can simply draw random designs and let the company pick one, “9 to 5” logos follow a concept or scheme and the final design must be based on those preferences. With strict lead time analysis, 8 hours or an entire shift is the most time allotted for this type of logos.
3. Concept logos
Time to complete: a few days
Concept logos take days to finish because of the different revisions involved in the process. Variety of fonts and perspectives are also considered before the final design is done. Normally, the client is being presented with multiple versions of the concept logo before settling with the final one. The final revision is expected to be done in 4-5 days.
4. Professional logos
Time to complete: a few weeks
Major businesses and big companies approach logo creation professionally and it would normally take weeks before their final logo gets done. Instead of having a single graphic designer, they assign a team to work on the logo creation which involves several shifts with people on different assignments for the project.
A lot of factors are being put into consideration not just fonts and perspectives, but also colors, shapes, icons etc. The logo design will also be tested in multiple platforms to make sure it appears nice whether in print, digital and 3D. Tighter lead time analysis is also incorporated on the task to make sure the logo gets finalized when the company or business needs it.
Simplicity is Beauty but More Work Means Success
Since it is very difficult to own up a simple logo design these days, putting in all the hard work on logo creation is the key to having an attractive logo which sticks to the minds of your target consumers.
Lead time analysis suggests that there are different options available to logo creation and it is up to you to pick up the best option for your company depending on the budget and urgency of need. However, never sacrifice quality and never settle for a logo design because you’re on a deadline. After all, it is your logo and not anyone else’s.
6 Reasons Why Having a Logo is Important
Feasibility study shows startup businesses with logos are more notable compared to small businesses who don’t have any logos for their company. The same feasibility study also shows the formers are more profitable which means it is more likely their business will survive in the long run.
Having a logo is often overlooked by most companies because the business owners are too focused on the financial aspect of the venture.
Here are a few reasons why having a logo is important for your company.
1. Leaves a lasting impression
Good impressions do last and this saying holds true in the aspect of business. Regardless of the industry your business is in, you are not alone, and you will have competitors. The first noticeable thing of your brand is your logo and if you leave a good impression to your customers then they can easily recognize and remember the logo in the future. Your logo is key to have recurring customers and have a good pool of leads.
2. Images are catchier than text
It is already proven wherein people absorb images faster than text. This only means logos register in people’s minds compared to slogans or marketing texts. This goes to show people recognize brands easier through a design compared to slogans and other marketing texts.
3. Having logos shows professionalism
It should be a no-brainer customers see companies and brands with logos as professionals. It does not really have to be a great logo but if you have one, it means you are serious with business and you have no time for playing around and all transactions only mean a customer-business relationship.
4. Consistency in all platforms
We already live in a world wherein marketing comes in multiple platforms, be it television, print, social media, and traditional methods. Because of these multiple platforms, having a logo will make it easier for your brand to stand out and be recognizable even if your marketing schemes come in different platforms.
This means your marketing campaign on Facebook will have an effect in traditional or any other means simply because the logo you displayed will be recognized as the same brand offering such service.
5. Stand out of the rest
Simply put, your logo will help you set yourself apart from your counterparts. In an industry where competition it tough, it is important to have your own identity and your company logo will give you individuality which will set yourself apart from the others.
Your brand will be remembered and noticed but at the same time separated from your competitors even if you offer the same type of products or services.
6. Cement professional identity
Once you have a business logo, the logo belongs to the company and is part of your business ownership. Even if the venture will not become a success, in the long run, the same logo belongs to the company and will die down with the business.
This will also make it easier for the business to strike a second run in the future since you already have established a professional identity your past customers already recognize.
If your business still does not have a logo, then you should consider having one as soon as possible. Further feasibility studies have already proven its worth to a company and allotting some money on it is proven to be a good expense.
Having a logo should be considered as a business asset and not simply an additional expenditure for the company.
White Label Supplier Assessment: How to Choose the Best Supplier?
The relationship you will establish with your supplier is ideally designed for a long-term run. You would not want to jump from one supplier to another for each product batch that you will produce. This is the reason why choosing for a supplier in white label manufacturing is a very crucial process.
It will not only impact your production run, but it will also be crucial for your reputation as a manufacturing/supply chain company. Here are a few tips on white label supplier assessment and how to choose the best supplier for your company.
1. Ask for the average delivery time.
There are a lot of factors revolving around delivery time for materials but if you are working with a top-quality supplier, then these factors should not be part of your concern as they make sure your products get delivered on time.
Suppliers have an average delivery time regardless of order quantity, availability of materials and other factors. They should be able to keep up with their average delivery time and any other deliveries way later than the average should affect their reputation as a supplier.
2. Make sure they are transparent with all the fees.
It is your privilege as a client to know everything you are paying for when working with suppliers. They must be able to provide a breakdown of your payment to which these expenses were allotted for.
This process will also make sure that there are no hidden charges which could catch you off-guard during the final quote. Transparency; not only with fees but including communication lines is key to a professional client-supplier relationship.
3. Does service include white label product guidelines creation and graphic design?
There are white label suppliers whose services are only limited to provision of materials and nothing more. As a client, you need to make sure the supplier you have chosen covers all aspects of product supply such as graphic design and provision of label product guidelines.
Hiring a supplier who can cover these services would be much more convenient instead of looking for others to render them.
4. Interview them about quality assurance.
Do not be hesitant to get in through the thick of things by asking about quality assurance and other factors revolving around ensuring materials quality. It is a given that materials or ingredients have varying quality depending on their origin.
With a responsible supplier, they should be honest of a material’s origin for the knowledge of the client and not sugarcoat the situation with a lie so the client knows what to expect.
5. Will you help with product storage?
It would be a huge plus if suppliers are able to house some of the materials/products to help clients cut down on shipping costs and storage fees. Always ask your potential supplier if they offer such service.
This additional service would benefit your financial flow and cut down on expenses. In case you are looking for a long-term supplier, make sure you have this service checked.
6. Check for legalities and accolades.
Some clients overlook this tip when in fact it can prove to be very useful. You do not want to deal with delinquents with illegal activities which is why it is important to check their operation permits and other proof of legal operations.
Accolades, certifications and even awards are also huge plus to show their credibility and reputation in the industry. These citations will make it easier for you to trust their services and further cement your partnership.
There are a lot more tips you can consider when it comes to white label supplier assessment but these few mentioned above are the most prominent ones. Consider them in your supplier assessment process and you’re on a good way to go in hiring a top quality white label supplier.
White Label Sampling: Why is it Important?
We always appreciate it when companies give out samples and free trial periods for their newest products or services. This way, we can experience them without shelling out actual money for the product or service yet. This concept is relatively the same with sourcing and procurement. Through sample procurement, clients get to have a teaser experience of their final product even before it gets mass-produced.
Statistics show sampling is very effective as 75% of consumers said they most likely buy a product after trying out its sample. In the manufacturing industry, this high percentage stat should be considered with products we produce moving forward. You do not really have to produce samples which consumers can enjoy for free because the sample procurement process only involves you; the client.
The Client is Actually the First Customer
Before the final product even reaches the market, the only person who gets to have an actual feel of the product is the client himself through sourcing and procurement. It is the responsibility of the client to be sensitive and understanding of what consumers should expect out of the product and why they should buy it.
During the sourcing and procurement process, these concerns should already be addressed before the product could even reach the production line. Modifications and changes can be suggested to the manufacturer to make the final product the best it can possibly be.
It is inevitable sourcing and procurement process can cause setbacks and delay most especially if the problem is rooted upon the material or ingredient of the product. This will cause you to contact the supplier once again and ask for a different option which may take some time depending on several factors on the supplier’s end.
However, you should not consider these possible setbacks and delay as a hindrance for product success. In fact, these are quality control steps necessary to make sure your white label product is of top quality which consumers can enjoy.
The sourcing and procurement process is most likely a first-customer experience for you as a client. This experience should not only be about your preferences and expectations. The entire process involves your ability to be empathetic of target consumers.
It would be useless to come up with a white label product is completely customized to your liking in which others cannot enjoy. You must keep in mind you have a larger audience awaiting the product. Your judgment whether it is worth buying or not is a crucial factor for its performance once the product hits the market.
How to Approach Failed Proposals and Rejected Designs
You cannot expect things to go as smoothly as planned when you are in the supply chain/manufacturing business. There will be obstacles along the way since your business also relies on other people’s decisions which are out of your control. It is a toughly competitive industry and you cannot simply expect you are on the same page with all the people you get to deal with in the business.
Business proposals and product designs can also be rejected by suppliers and manufacturers due to varying reasons. The most common one is when the supplier is not able to keep up or provide the resources or materials needed for the product.
Another common reason is when both the client and supplier cannot agree on their terms and conditions leading to a fallout. Whatever the reason may be, it is important to exit with grace and not leave a bitter taste in the mouths of should-have-been potential suppliers. This factor should be covered in the due diligence process.
How to Accept Rejections Gracefully
Most due diligence processes overlook the courtesy part needed during failed transactions and deals. Due diligence usually focuses on background checking and profiling of potential suppliers and manufacturers then miss out the part post-failed proposals and rejections. Regardless of how the transaction between a potential supplier turns out to be, it is important to end the conversation on a positive note.
There are four points which you should always remember when dealing with rejections and failed partnerships. The first point must be gratitude. Always be thankful for their time and whatever efforts they put into your proposal or product design.
Even if you did not end up as partners, your gratitude will always leave a good mark and reflect your company’s character via good manners. The next one is to be direct to the point and not beat around the bush. Much like any other professionals, time is precious, and these suppliers and manufacturers do not want their time wasted.
Avoid flowery speech in your proposals and simply be direct in asking for their service or whatever it is you need from them.
The third point is to be reasonable. Always have a reason to back up your statements and functions. The honest reasoning is sometimes the key to overturn a failed partnership or proposal into a success. Last but not least, be nice. There is no need to elaborate on the last point. It applies not only in this industry but generally in life.
The Importance of Logo Evaluation for Success
It is normal to visualize and imagine the outcome of your product in your head before it even hits the production line for manufacturing. Prototyping is the first manifestation of all the sketches and imaginations done during product conceptualization.
This process is your perfect chance to evaluate your logo and make it impact your business positively. We already have discussed the basics of prototyping during our Introductory Series but this time we’ll focus on logo placement in the product during prototyping for our Brand Building and Marketing (White Label) Series.
How to Evaluate Your Logo for Prototyping
It is always advisable to put your logo on products you manufacture. These products will also serve as marketing vehicles and increase your visibility out there. This factor should be considered during logo conceptualization, so the size of your product must be rational to the logo design.
When it comes to small products, you should come up with a variation of your logo, so you can still insert your brand somewhere in the product even with its small size.
Aside from the product size and logo rationale, it is also important to consider logo placement on the product. The logo must be placed somewhere visible. Others try to be creative by putting the logo in an unorthodox area, but this is not advisable most especially if consumers cannot see the logo right away.
Before creating the product prototype, create multiple sketches of where and how to put the logo in your product. The possibilities are limitless, and it is sometimes inevitable you need to modify the original logo itself to fit your product. Also, always consider these modifications with respect to your future products and not just on the current product you are releasing.
Your company logo is a direct representation of your company. When people see your logo on a product, they will right away associate it with your business. This is the impact that logos can give you and it goes beyond aesthetics since it works great for your marketing campaign as well.
During the prototyping phase, think hard of good logo placement on the product. The product’s success will always be credited to where it is due, but if a company logo is nowhere to be found then the product owner would have none of the credit it deserves.
Important Components of an Excellent Contract
Contract negotiations have always been an integral part of doing business most especially these days wherein people do not necessarily have to see each other face-to-face to do business because of e-commerce. A signed contract or mutual agreement is a simple document which earns trust for both parties to work on their responsibilities as business partners due to their signed liability towards each other.
There are important components which one should note of when preparing or signing a contract. In the field of white label marketing, there may be special points to consider which may differ from standard contracts or agreements. Here are the important components you should remember with white label agreements.
White Label Agreement Components
1. Scope and duration of the partnership
This component specifies the scope or reach of the agreement both parties are responsible and liable for. Any point beyond the said scope are no longer covered by the agreement and falls under its own liability depending on the situation and circumstances. The duration of the partnership should also be specified for both parties to know when the agreement will take effect and when it will end and bound to be renewed/terminated.
2. License and legalities
Licenses need not be attached in the contract but should be presented to the parties involved for verification as proof of legality and eligibility of the partnership’s operations moving forward. This component is important for both parties to feel secure and trust each other.
3. Obligations and responsibilities
The contract must clearly state the obligations and responsibilities of the parties involved which may include but not limited to business functions, risk management, financial responsibilities, etc. and most especially in complying with legal terms and conditions.
4. Revenue sharing
It is important to specify revenue shares because partnerships do not always mean a 50/50 sharing due to varying responsibilities and capital investment on the business. Most partnerships fail because of disagreements on this aspect or this component got overlooked during the contract negotiation process leading to a fallout or worse, a legal battle between both parties.
5. Intellectual property rights
Most of the time, the client owns all intellectual property rights of the product while suppliers, manufacturers, sourcing companies and other parties involved in the manufacturing process are only credited for their services and contributions to the creation of the product.
This component may vary depending on the circumstances wherein any of the parties involved may play a significant role to product conceptualization or the concept was totally vague when presented.
There could be other clauses and components which may be included in white label agreements, but the ones mentioned above should be the most important ones.
How a Great Logo can Affect the Production Line
We have already established how important it is to have your own brand or company logo through the past articles in this Brand Building & Marketing (White Label) blog series for better chances of product success and be able to market and establish your brand.
More importantly, it should be a huge plus if you have your logo imprinted on the actual product you will manufacture, and not only have it printed on the product package or container.
Logo Addition: Pros and Cons to the Production Line
It is obvious the production line gets affected once a logo is added to the products being manufactured. A delay could be expected most especially during the early part of the logo implementation. This delay can easily be prevented wherein logo implementation will easily be embraced into the process without allotting special time exclusively for it.
As long as the manufacturers and suppliers are efficient and receptive to changes, this factor should not be a problem. The only challenge I see with logo implementation in the production is there are times wherein the logo could be altered from one product to another due to unforeseen circumstances within the production process.
This factor presents another challenge for the quality control committee and what used to be an efficient production process now gets more complex due to logo addition. When you come to think of it, this con gets offset by the multiple advantages given by logo addition. If you are a smart white label marketer, then you should see pass through this hindrance.
Having a logo certainly affects the production line but the overall effect of this action is only for the benefit of the campaign. You should not look at logo addition as a hindrance to the production line but instead as a must-have process in there which should not be overlooked. Expected changes in the production line are only minor but the impact of logo addition towards the campaign is a major development.