The Pricing Factors of Logo Design

Logo design is a dream job for anyone who loves to play with graphics and flaunt his creative ideas. The most difficult part however, is to determine the price for designing a logo.

Anyone who has ever quoted a price for services     offered has either felt he is asking too much and the  client won’t approve, or asking too less compared to the  amount of work required.

The problem is, you can’t find a rate chart for logo design, and you have to follow your own understanding of the industry standards to quote a price. To solve this problem, I would like to share with you some points that will help you to determine the proper value of your ingenuity and service.

Experience– The more experience you gather, the more you can charge for your logo design. When you have enough skill and a strong grasp on a particular art, you can charge as much as you wish for your creative services. If you check the price of famous logo designs, you will realize how important experience is in earning plenty of money. A novice logo designer will not be able to charge as high as a veteran.

Importance of the project- You can charge depending on the days required to spend on a design. If it’s a small company whose target audience is not big, you don’t need to brainstorm too much and the project can be completed in a few days. If, however, you are designing for a large corporate house that wants to target a global audience, you must pay more attention and devote more time to finishing the design.

How much the client can spend- Before charging a price for logo design, you should know your client and his business condition. If you are working for a small company, you can’t ask a high price. They won’t be able to hire you if your charge is too high. But if you are designing a logo for a famous brand, then you can actually charge whatever price you want. These MNCs believe it’s an ego boosting thing to pay a hefty price for the logo, which carries their brand name all over the world. For example, British Petroleum uses a stylized sunflower logo for which they spent $4.6 million.

Competitive pricing- Logo designing is a fiercely competitive field and your price must be reasonable to get more clients. You must not lower your price too much, or the client will feel your work quality is cheap. Especially in third world countries, competitive pricing helps you to survive.

Serve the community- Charity is low cost publicity. It may sound rude, but most people associate with charitable organizations for this reason. As a designer, you can also do the same. If you come across a client who wants to design a logo for a charitable organization or hospital, quote him a very low price. You can even give him 50% discount.

These are only a few tips that can help you to quote a price for your logo design. The funny thing is, logo designers are always paid before the clients realize whether the design will bring success or not. An ironic example is 2012 London Olympics logo. The logo design was hated by everyone, but the logo design agency got $400,000 despite its utter failure.