Did you know that 75% of consumers recognise a particular brand by its logo?
The above stats explain why renowned companies such as British Petroleum and BBC spent over $211 million and $1.8 billion on their logos, respectively.
It’s hard to avoid the importance of logo design for a company. It grabs the consumers’ attention, makes a long-lasting impression and converts them into loyal paying customers. It is one such building block of your brand identity that you cannot miss out on.
Irrespective of the growth in the logo designing industry, many logo designers are paid peanuts compared to the long-term results of creating the logo.
So why aren’t logo designers paid enough in 2022 when logo designing is at its peak importance for brands?
Well, there could be several reasons here:
- Logo designers mostly care about making little money and not upskilling their expertise.
- Many national & international designers sell low-quality logos for as low as 250 INR each. Websites are offering logo mockups from logo designers at zero cost.
- Freelance platforms like Fiverr and other websites exploit logo designers.
In all three cases, logo designers are always exploited and undercharged.
Yet, you can find countless logo designers earning millions by creating simple yet memorable logos for brands.
Logo designing is extremely profitable only when you have the right skills and expertise and adhere to certain other factors, which we will uncover together in this blog.
So, do you want to start a logo designing career, or are you a brand owner looking to understand the elements that make logo designing so profitable?
Then, you are in the right space.
Hold tight. Today we will discuss the key factors contributing to some of the highest-paying logos and how you can find your next high-paying client this year.
Let’s begin.
Also Read : How to Design Logo: Why Logos Are So Expensive?
Table of Contents
Work on your designing skills instead of just working
Regularly updating your design knowledge and fine-tuning your skills are essential to becoming a successful logo designer. Here’s why:
- It speeds up the lengthy design process
- Developing additional skills will give you a more competitive edge
- The more you learn, the greater you enjoy the process
- Builds your creativity portfolio
- Improve your ability to brainstorm engaging logo designs
And more…
Instead of just ranting about money, focus primarily on improving your skills. When you upskill, you tend to attract more high-paying clients over time – The secret of every successful Logo Design Company.
Here are a few tips that may help in improving your logo designing skills:
- Read books written by other graphic designers or logo designers to gain insight into new theories and techniques to explore
- Sign up for any reputed logo designing class in your area
- Critique your earlier pieces of work and work on improving each element of your design every day
- Determine your signature style with self-reflection
- Note down designs that stand out to you and analyse how these designs are built and the message behind them.
- Surround yourself with other successful logo designers that teach and motivate you to work harder on your logo designing skills
What makes logo design work profitable?
Logos need to be simple, so why do logo designers charge so high for their work? Even though the key to a successful logo design is creating a simple yet impactful logo, numerous processes, thoughts, execution and other elements validate the exorbitant charges of logo designers. Let’s decode each one of them.
- Well-Defined Process
So many people wonder what’s so difficult about creating a successful logo? Logos are usually small, simple and easy to do, right?
Even though the final result may look simple, the efforts by the logo designer are lengthy when combining the thoughts, creativity and skills into the artwork.
When creating a logo, always follow a specific designated process that ensures the final logo design matches the clients’ needs. Here is a typical process most professional logo designers follow. With practice, you can also develop your own process flow over time.
1. Design brief
Start with conducting a questionnaire or interviewing your client to understand his needs and expectations from the logo. This will help you align your final design to their requirements.
2. Research
Conduct comprehensive research on their industry, history and competitors. This way, you can find many flaws in other logos, which you can improvise in your design.
3. Reference
Look out for logo designs that are already successful and the current styles and trends in the market that may relate to your design brief. However, ensure that the design stays relevant for the upcoming years.
4. Sketch and conceptualisation
Get creative and inspired. Start with sketching and conceptualising. Once you get the brief and conduct the research, it’s time to put your creative skills into use and design concepts based on it. Evolve your imagination as you sketch and be motivated to try out different designs every day unless you hit the right mark.
5. Reflection’
Take breaks throughout the designing process and reflect on your progress. This will help you assess your progress and renew your enthusiasm, gain more solicit feedback, and give you more perspective.
6. Revisions
Keep consistent communication with the client to revise and improve whenever required. However, offer your client a certain number of revision counts and stick to them to prevent overworking and undercharging.
7. Presentation
Present your best logo designs to your client, preferably in PDF format. Ensure that you present a high-quality presentation to maximise the chances of approval from your client.
8. Delivery & Support
Once you deliver the appropriate files to the client, wait for their feedback and offer assistance whenever required. Apart from your skills, their experience with your service is an important element contributing to a successful logo design career!
- Choose Clients Wisely
The next important step to contribute to generating profits from your logo designing skills has to be the type of clients you possess. Some clients are willing to pay you millions or more to create good-quality logos. But, at the same time, some may negotiate to minimal rates.
The goal is to find the right spot while diversifying and finding better clients as you upskill.
Here are some tips to help you find clients that pay you high!
- Create an online portfolio site to showcase your skills and expertise. Brand wonders can directly check out your work and assess whether they would like to hire you for the job or not.
- Build your website and present your work in an organised manner. When the client lands on your website, no other designers will be present to compete with your designs, resulting in higher chances of being hired. Ensure that you focus on SEO to improve your presence on the search engine result pages as your ideal client looks for the best logo designers.
- Leverage social media platforms to build engagement around your logo design skills. Connect with potential clients while showcasing your work.
- Encourage your previous clients to share their experiences working with you to utilise referrals and word-of-mouth techniques to score your following clients.
- Emphasise networking with real business owners or solopreneurs and turn them into paying clients.
- Value-Based Pricing
If you feel your logo designing business isn’t profitable or worth the effort, consider changing your pricing strategy to value-based pricing.
Here your logo designing service will be priced based on the value it will bring to the client. Then, based on that perceived value, you can quote the rates for the project.
This is because if you get paid 10000 INR for a logo that generated over 1 Crore in revenue for the brand, you will undoubtedly feel demotivated.
Hence, focus on a value-based pricing strategy instead of charging based on the hours spent on designing the logo. The higher the quality you produce for the client, the higher you get paid.
- Increase your pricing with experience
Just like upskilling, you should also increase your pricing over time as you gain more years of experience.
When you finally realise the worth of your work is more than what you are currently charging, it’s time to increase your pricing.
Remember. Every business should be on an upward trajectory. Even the smallest increments contribute to making giant leaps in your logo designing career.
Conclusion
The key to any successful logo design is consistent practice, creativity, motivation and upskilling. Once you realise the importance of finding the right clients and going above and beyond in delivering quality work to the clients, the easier it gets to generate millions of profits from designing logos.
As a brand owner, now that you understand why reputed logo designers charge so high, you may already be contemplating whether you should even hire a logo designer for your brand.
Hold up, as we are here for your rescue.
At LogoPeople, we have worked with numerous brands at competitive rates on designing high-quality logos that generate never-ending profits. Not only does this help brands improve their brand identity and revenue, but it also boosts their profits at nominal investment.
If you are looking for a good logo designer, connect with our logo designing experts today to get a detailed quote based on your requirements and budget.
Author: Megha Malik
As a passionate entrepreneur and creative brand consultant with experience of 14 years in digital, branding and packaging industry, it is my honest effort to put my experiences and knowledge of industry towards readers. A chartered accountant by degree but a marketing personality in blood has motivated her to take in designing industry as a career. With her fun-loving personality and sharp branding skills, she is a great motivational speaker on her YouTube channel, an active member in various business channels offline as well as online. Do connect me personally via my LinkedIn and I love to share my expertise with you.
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